The World Bank Group today announced a major new set of climate targets for 2021-2025, doubling its current 5-year investments to around $200 billion in support for countries to take ambitious climate action. The new plan significantly boosts support for adaptation and resilience, recognizing mounting climate change impacts on lives and livelihoods, especially in the world’s poorest countries. The plan also represents significantly ramped up ambition from the World Bank Group, sending an important signal to the wider global community to do the same.
“Climate change is an existential threat to the world’s poorest and most vulnerable. These new targets demonstrate how seriously we are taking this issue, investing and mobilizing $200 billion over five years to combat climate change,” World Bank Group President, Jim Yong Kim said. “We are pushing ourselves to do more and to go faster on climate and we call on the global community to do the same. This is about putting countries and communities in charge of building a safer, more climate-resilient future.”
The $200 billion across the Group is made up of approximately $100 billion in direct finance from the World Bank (IBRD/IDA), and approximately $100 billion of combined direct finance from the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) and private capital mobilized by the World Bank Group.
A key priority is boosting support for climate adaptation, recognizing that millions of people across the world are already facing the severe consequences of more extreme weather events. By ramping up direct adaptation finance to reach around $50 billion over FY21-25, the World Bank will, for the first time, give this equal emphasis alongside investments that reduce emissions.
“People are losing their lives and livelihoods because of the disastrous effects of climate change. We must fight the causes, but also adapt to the consequences that are often most dramatic for the world’s poorest people,” said World Bank Chief Executive Officer, Kristalina Georgieva. “This is why we at the World Bank commit to step up climate finance to $100 billion, half of which will go to build better adapted homes, schools and infrastructure, and invest in climate smart agriculture, sustainable water management and responsive social safety nets.”
The new financing will ensure that adaptation is undertaken in a systematic fashion, and the World Bank will develop a new rating system to track and incentivize global progress. Actions will include supporting higher-quality forecasts, early warning systems and climate information services to better prepare 250 million people in 30 developing countries for climate risks. In addition, the expected investments will build more climate-responsive social protection systems in 40 countries, and finance climate smart agriculture investments in 20 countries.
“There are literally trillions of dollars of opportunities for the private sector to invest in projects that will help save the planet,” said IFC CEO Philippe Le Houérou. “Our job is to go out and proactively find those opportunities, use our de-risking tools, and crowd in private sector investment. We will do much more in helping finance renewable energy, green buildings, climate-smart agribusiness, urban transportation, water, and urban waste management.”
The new targets build on the World Bank Group’s 2016 Climate Change Action Plan. In 2018, the World Bank Group provided a record-breaking $20.5 billion in finance for climate action: doubling delivery from the year before the Paris Agreement and meeting its 2020 target two years ahead of schedule.
The World Bank Group will continue to integrate climate considerations into its work, including screening projects for climate risks and building in appropriate risk mitigation measures, disclosing both gross and net greenhouse gas emissions, and applying a shadow carbon price for all material investments.
To increase system-wide impact for countries, the World Bank Group will support the integration of climate considerations in policy planning, investment design, implementation and evaluation. It will also support at least 20 countries implement and update Nationally Determined Contributions and increase engagement with Ministries of Finance in the design and implementation of transformative low-carbon policies.
In key sectors, efforts will include:
- In Energy: Support the generation, integration, and enabling infrastructure for 36 GW of renewable energy and support 1.5 million GWh equivalent of energy savings through efficiency improvement;
- In Cities: Help 100 cities achieve low-carbon and resilient urban planning and transit-oriented development;
- In Food and Land-Use: Increase integrated landscape management in up to 50 countries, covering up to120 million hectares of forests.
China Receives GEF Grant for Green Freight Transport Development
The World Bank’s Board of Executive Directors today approved a US$8.2 million grant from the Global Environment Facility (GEF) to support China’s efforts to improve efficiency and reduce carbon emissions from the freight sector, a major consumer of energy, with the highest growth rate of carbon dioxide (CO2) emissions among all sectors in China.
Freight transport accounted for over half of total transport CO2 emissions in 2013. As one of the most freight intensive economies in the world, for China to maintain healthy economic growth while fulfilling its commitment to global carbon reduction and environmental sustainability, developing a competitive, efficient and green freight transport system is a national strategic priority.
“This GEF project will contribute to China’s efforts in meeting or exceeding its Nationally Determined Contribution (NDC) under the Paris Agreement well before 2020. It aims to improve the efficiency of multimodal freight transport, so that long-distance freight will be shifted from roads to greener transport modes such as railways and waterways. It will also promote green urban logistics to reduce emissions,” said Tan Hua, World Bank Senior Transport Specialist and task team leader of the project.
The GEF Efficient and Green Freight Transport Project will seek to improve institutional capacity by focusing on two priority areas at the national level: promotion of multimodal freight transportation system, and optimization of urban freight distribution. The project will also pilot key policy, strategy and analytical tools at the local levels in two provinces (Guangdong and Hubei) and three municipalities (Yantai, Weifang and Xiamen). The project will engage key industry players in the formulation of sector policies at both national and local levels.
“This project will introduce and pilot innovations in the development of China’s first macro-logistics freight model, applying big data analytics to inform policy formulation, and piloting of public-private partnerships to facilitate better rural-urban freight distribution and accelerate rural economic development,” added Yang Yi, World Bank’s Operations Analyst and co-task team leader of the project.
Knowledge and experience gained from the project will be disseminated within China and in World Bank’s client countries through TransForm, a knowledge platform jointly developed by the Chinese Ministry of Transport and the World Bank to learn and spread China’s experience and good practices in transport development and transformation.
The GEF was established on the eve of the 1992 Rio Earth Summit to help tackle our planet’s most pressing environmental problems. Since then, the GEF has provided over $17.9 billion in grants and mobilized an additional $93.2 billion in co-financing for more than 4500 projects in 170 countries.
UN Environment joins campaign to green Kenya
Building on the momentum of climate action from the just concluded Conference of Parties (COP24), UN Environment today joined the government of Kenya for the launch of ‘Greening Kenya Campaign’, which focuses on growing trees in schools, universities, education centers, farmlands and dryland.
The initiative is part of Kenya’s aim to plant 1.8 billion trees and achieve more than 10% forest cover in the country by 2022.
“Planting a tree is continuing a battle against the global challenge of climate change. We commend the initiative and vision behind it. With this campaign, Kenya lives up to the aspirations of its citizens to uphold a bond of unity between the forests and the people,” said Jorge Laguna-Celis UN Environment Director of Governance Affairs. “These actions, partnerships and joint coordination efforts of various ministries and national organs will definitely lead to reversing the adverse effects on our environment which we see manifested in drought, desertification and flooding among other consequences.”
The Kenyan government has stated that more than 200,000 acres of forest cover has been destroyed in recent years, and called for the enforcement of a moratorium on logging in public and community forests.
“This launch could not have come at a more opportune time. The effects of climate change are real and we have experienced it with the droughts witnessed in Kenya” said Keriako Tobiko, Kenya’s Cabinet Secretary for Environment. “We are doing this for ourselves, our country, our children and our children’s children.”
Some of the world’s foremost environmental assessments, including UN Environment’s Emissions Gap Report and Adaptation Gap Report have shown an increasing gap between countries’ ambitions and actions against the reality of climate change, as the world prepares for a future with increasing climate risks.
The Adaptation Gap Report cited that less than half of countries assessed provide integrated frameworks to address climate change adaptation in a holistic way, revealing that most address adaptation through development plans or sectoral policies alone, while a handful have been specifically designed to create financial instruments or to focus on disaster risk management.
Kenya’s cabinet secretary for Interior Dr. Fred Matiang’i and cabinet secretary for Public Service, Youth and Gender Affairs Prof. Margaret Kobia pledged to provide 50 million of the annual 500 million target tree seedlings and use their national mandates to mobilize their institutions into supporting the restoration efforts.
Approximately 12 million seedlings — both indigenous and exotic — are being grown at Kenya’s Ruiru Prison farm (where the launch was held) using the resources available to the institution. Similar nurseries have been set up in 27 other centres in all the regions and ecological zones across Kenya where 38 million more seedlings will be developed and distributed from.
Green Economy in Nigeria gets a boost from India-UN Fund
Jointly advancing environmental sustainability and poverty reduction is a challenge the government of Nigeria holds at heart. In pursuit of these interlinked objectives, the Ministry of the Environment and the Man and the Biosphere National Committee of Nigeria proposed a project titled “Biodiversity Businesses in Omo and Shere Hills: A Means to Poverty Reduction, Biodiversity Conservation and Sustainable Development.” This initiative, a unique example of triangular partnership between the Government of Nigeria, the Government of India and UNESCO – was recently approved in principle by the India-UN Development Partnership Fund Board to receive $1 million.
“This is the first project the India-UN Fund is launching in Nigeria, and one of the first with UNESCO. We are excited to see how it can support people to lift themselves out of poverty in an environmentally sustainable way, and hope it can serve as an example for other countries looking to do the same. It is yet another example of the great commitment India has to further sustainable development through the solidarity-based model of South-South Cooperation” says Jorge Chediek, the Secretary-General’s Envoy on South-South Cooperation and Director of the UN Office for South-South Cooperation, UNOSSC.
The project will increase biodiversity-friendly livelihoods in these two regions of Nigeria. It will offer training to local communities, with a focus on women and youth, on simple nature-based business techniques such as apiculture (bees), snail rearing, eatable mushroom and other rare species harvesting. It will contribute supplies and simple equipment, incubate businesses by providing support on business plan development to accessing markets, and help locals develop business skills including bookkeeping and product marketing.
Omo Biosphere Reserve was designated a Biosphere Reserve by UNESCO in 1977. It comprises over 130,000 hectares and is home to over 5,000 people. Their major economic activities include timber exploitation, fuel wood harvesting, cultivation of arable crops, hunting and fishing. The Shere Hills forest comprises over 35,000 hectares of undulating hills on the Jos Plateau, Nigeria. It has numerous high peaks, with the highest peak reaching a height of about 1,829 metres above sea level. Currently, both sites are under threat for losses in their biodiversity. Participatory governance of the ecosystem; improved sustainable livelihoods for local people; and enhanced social, economic and cultural conditions are key to preserving biodiversity and ensuring environmental sustainability. This project and the support by India are, therefore, highly relevant and timely.
The project will be implemented by UNESCO in close collaboration with the Ministry of Environment of Nigeria, the Forestry Research Institute of Nigeria, and the Nigeria MAB National Committee.
“Convinced that inter-sectoriality and holistic approaches to development are critical to advance on the SDGs, India is supporting the UN System across its various Agencies, Funds and Programmes. We are pleased to work with UNESCO, and we hope this project a harbinger of more to come.” – affirm H.E. Syed Akbaruddin, Permanent Representative of India to the United Nations in New York.
“UNESCO’s expertise in promoting biodiversity-friendly jobs is highly relevant for populations living in rural and protected areas. We are very thankful to the Government of India for its support, which will enable us to expand our support incubating small businesses in bee-keeping, snail rearing, mushroom farming, carbon sequestration in biomass, watershed protection, bioprospecting and/or ecotourism in Nigeria.” commented Mr. Yao Ydo, Regional Director of UNESCO Multisectoral Regional Office Abuja.
The United Nations Office for South-South Cooperation (UNOSSC) is the Fund Manager and Secretariat of the Board of Directors of the India-UN Development Partnership Fund. It supports the work of the Fund through the overall project cycle. Launched in June 2017, it’s project portfolio encompasses 31 projects across Africa, Asia Pacific, Latin America and the Caribbean.
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