Connect with us

Newsdesk

The World Needs to Move Faster on Climate Change to Avoid Disaster

Newsroom

Published

on

Time is running out for action to stem climate change and, while the world is still debating whether the change is real, weather migrants and refugees are becoming a reality, experts told a session on environmental risks at the World Economic Forum.

In a few months’ time, Cape Town in South Africa will become the first major city in the world to completely run out of water, if nothing changes before then, as a result of drought. Other parts of the world are facing weather-related crises on a similar scale.

There is insufficient urgency in meeting the goals on climate change set in the Paris Agreement and more radical measures are required to address the issues, speakers said.

The issues of environment and sustainability need to be pushed to the top of the corporate agenda as the problem is too large for governments alone to tackle. “We need a new contract between capital, corporations and government,” said Philipp M. Hildebrand, Vice-Chairman, BlackRock Inc.

He said he was starting to see a “sea change” in the way corporations are looking at climate issues. This relates, in part, to the transfer of wealth to a generation that cares about sustainability and climate issues, and also to the growing commitment by companies to environmental, social and governance principles, especially as research is starting to show that these practices, when integrated into business, may actually offer better returns to investors.

Al Gore, Vice-President of the United States (1993-2001); Chairman and Co-Founder, Generation Investment Management, USA, said humanity still has the opportunity to take control of its destiny but it will only happen if more people accept the imminent danger and cost of climate change. This is beginning to happen. “There is a building wave. We are in the early stages of a sustainability revolution. It has the magnitude of the Industrial Revolution but the speed of the digital revolution,” he said. However, he cautioned, time is of the essence.

Peter O’Neill, Prime Minister of Papua New Guinea, said the climate issue had become more mainstream in conversations over the past few years but this did not help countries such as his, which recently experienced a long drought that precipitated serious food shortages. He warned that climate change not only threatened communities but also nations. At least a third of countries in the African, Caribbean and Pacific Group of States, to which Papua New Guinea belongs, are in danger of disappearing as a result of climate change.

“The world seems to think they have time. But there are real communities already suffering,” he said.

Hindou Oumarou Ibrahim, Coordinator, Association for Indigenous Women and Peoples of Chad (AFPAT), Chad, said the rainy season was now much shorter, causing hardship for local farmers. Lake Chad is an example of an extreme weather development, with 90% of the lake having evaporated over the past 40 years. This has resulted in food shortages and an increase in conflict among lakeside communities over resources.

She said local solutions to the problem are necessary as countries cannot wait for solutions to be crafted at a global level. “It is difficult to change the consumer behaviour of people trying to survive. Energy is a luxury for a country like mine.” She added her voice to the call for faster and more radical change to turn the situation around.

A spotlight was shone on the consumer as a driver of change. If individuals insist on climate and environmentally friendly alternatives, it will pressure manufacturers and other companies to change the way they operate and what they provide. Governments can also use incentives and legislation to change behaviour.

Renewable energy is widely seen as a significant part of the solution in the fight against climate change, particularly as costs have dropped dramatically. However, the reality is that more than 30% of energy is provided by fossil fuels and this will not change dramatically in the near future unless cheap and easy solutions are found to store alternative energy.

Continue Reading
Comments

Newsdesk

Knowledge Exchange Program between World Bank and Parliamentarians of Nepal

MD Staff

Published

on

photo: World Bank

Members of the Federal Parliament in Nepal and officials from the World Bank held consultations and development policy dialogue at a knowledge exchange program held today. Over 40 members of the Parliamentary Finance Committee and the Parliamentary Secretariat took part in the program.

“These engagements with the representatives of the people of Nepal are a key part of our role and responsibility as trusted partners in Nepal. They allow us to exchange ideas, and to better understand the vision of the Nepali people in reducing extreme poverty and boosting shared prosperity. It also allows us to share experiences on development narratives from the rest of the world.” said Qimiao Fan, World Bank Country Director for Bangladesh, Bhutan and Nepal, “The country’s path of nation-building and sustainable development relies on sound policies and institutions, and the Parliament is key in ensuring that these are both in place.”

During the program supported by the World Bank and facilitated by the Parliament Secretariat, the Country Manager Faris H. Hadad-Zervos introduced the World Bank Group operations in Nepal, its instruments, country partnership framework and areas of development support. This was followed by a synopsis of the Bank’s analysis of latest macroeconomic and development updates, presented by World Bank Senior Country Economist Kene Ezemenari. Xiaoping Wang and Rabin Shrestha, Senior Energy Specialists from the World Bank then presented on the current scenario of the power sector in Nepal.

“The program was a great opportunity to understand the World Bank Group operations and explore avenues of cooperation and support in the days to come,” said Krishna Prasad Dahal, Chairperson of the Parliamentary Finance Committee, “Extensive sharing of data, information and practical knowledge will help pinpoint the direction of future policies and refine our responsibilities as lawmakers.”

The World Bank is engaging the Nepali Parliament in various ways. Through the Integrated Public Financial Management (PFM) Project supported by the Multi-Donor Trust Fund (financed by Australia, Switzerland, DFID, EU, Norway and USAID), The World Bank is currently supporting the Parliament of Nepal through strengthening of the PFM capacity of technical staff in the Secretariat. Knowledge exchange opportunities will be provided to MPs within this program. Provincial Parliaments will also be progressively targeted since they can benefit from the expertise of the Federal Parliament to build their own.

Continue Reading

Newsdesk

Africa Industrialization Day 2018 celebrated in Côte d’Ivoiren

Newsroom

Published

on

On the occasion of Africa Industrialization Day’s (AID) worldwide celebrations, the United Nations Industrial Development Organization (UNIDO) and Côte d’Ivoire’s Ministry of Trade, Industry and SME Promotion organized an event to discuss the importance of industrialization for the development of Africa with a particular focus on Côte d’Ivoire.

“Industrialization represents the best means to create more employment and to improve the living conditions of the population,” said Souleymane Diarrassouba, Côte d’Ivoire’s Minister of Trade, Industry and SME Promotion, during his welcome speech. “The government of Côte d’Ivoire, in collaboration with the financial and technical partners, is engaged in promoting the industrialization of the country.”

After reading a Joint Statement of the African Union Commission, the United Nation Economic Commission for Africa and UNIDO on the occasion of the AID event held in Vienna, Tidiane Boye, UNIDO’s Representative in Côte d’Ivoire, quoted UNIDO’s Director General, LI Yong: “AID 2018 represents an important occasion to raise awareness of the importance of a concerted programmatic approach to the promotion of rapid and inclusive industrialization in Africa.” Boye also paid tribute to H.E. Alassane Ouattara, President of the Republic of Côte d’Ivoire, for his engagement as Champion of the Third Industrial Development Decade for Africa.

The event was an opportunity to present the main findings of UNIDO’s Industrial Development Report 2018 – which focuses on the importance of demand as a driver of industrial development – and perspectives on the development of the pharmaceutical global value chain in Africa.

Nicola Cantore, UNIDO Research and Industrial Policy Officer, pointed out that under the right set of conditions, the consumption of manufactures can set in motion a virtuous circle of industrial development – comprising income creation, demand diversification and massification of consumption – but that this virtuous circle often requires specific policy measures to attain socially inclusive or environmentally sustainable industrialization.

”For Côte d’Ivoire, a gap still needs to be filled in terms of increasing the share of manufacturing exports in total exports and the technological contents of exports, which are still too dependent on primary goods,” Cantore said.

The social dimension of industrialization was well-captured by the presentation of Assane Coulibaly, UNIDO’s Lead ECOWAS Coordinator for Pharmaceuticals GMP Roadmap Initiative, who explained how the development of local capabilities in the pharmaceutical industry is a key step to ensure affordability and availability of medicines essential to the development of an effective health system.

The event was attended by representatives of the government and the private sector.

Continue Reading

Newsdesk

World Bank Group Announces $50 billion over Five Years for Climate Adaptation and Resilience

Newsroom

Published

on

The World Bank Group today launched its Action Plan on Climate Change Adaptation and Resilience. Under the plan, the World Bank Group will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. This financing level—an average of $10 billion a year—is more than double what was achieved during FY15-18. The World Bank Group will also pilot new approaches to increasing private finance for adaptation and resilience.

“Our new plan will put climate resilience on an equal footing with our investment in a low carbon future for the first time. We do this because, simply put, the climate is changing so we must mitigate and adapt at the same time,” said World Bank Chief Executive Officer Kristalina Georgieva.We will ramp up our funding to help people build a more resilient future, especially the poorest and most vulnerable who are most affected.”

The increase in adaptation financing will support activities that include:

  • Delivering higher quality forecasts, early warning systems and climate information services to better prepare 250 million people in at least 30 countries for climate risks;
  • Supporting 100 river basins with climate-informed management plans and/or improved river basin management governance;
  • Building more climate-responsive social protection systems; and
  • Supporting efforts in at least 20 countries to respond early to, and recover faster from, climate and disaster shocks through additional financial protection instruments.

In addition to boosting finance, the Plan will also support countries to mainstream approaches to systematically manage climate risks at every phase of policy planning, investment design, and implementation.

“This Action Plan is a welcome step from the World Bank,” said Ban Ki-moon, former Secretary-General of the United Nations and co-chair of the Global Commission on Adaptation. “The world’s poorest and most climate vulnerable countries stand to benefit from its increased finance and support for longer term policy change.”

The Action Plan builds on the link between adaptation and development by promoting effective and early actions that also provide positive development outcomes. For example, investing in mangrove replanting may protect a local community against sea level rise and storm surges, while also creating new opportunities for eco-tourism and fisheries. Early and proactive adaptation and resilience-building actions are more cost-effective than addressing impacts after they occur.

The Action Plan also includes the development of a new rating system to create incentives for, and improve the tracking of, global progress on adaptation and resilience. The new system will be piloted by the World Bank in FY19-20 and rolled out to projects in relevant sectors by FY21.

The Action Plan on Climate Change Adaptation and Resilience forms part of the World Bank Group’s 2025 Targets to Step Up Climate Action which were launched in December 2018, during the UN’s COP24 in Poland.

Continue Reading

Latest

Trending

Copyright © 2018 Modern Diplomacy