Today, the world has a historic opportunity and a need to change course – to overcome the growing dangers of hunger, social division, conflict, violence and climate change. The World Bank Group will work with all stakeholders to address these challenges head-on and help our clients reap the benefits of green, resilient, and inclusive development. We need multilateral development banks (MDBs) to support the creation of bankable projects. Finally, we need partners to help us provide public and blended concessional financing to reduce the risk of private investment and reduce the cost of innovation. IfC, for example, will apply a climate lens in all regions and industries in which it operates. It will strive to maximise its impact by helping to accelerate the adoption of green finance and the development of capital markets, and will work with private companies – including SMEs – to integrate the risks and opportunities of climate change into their supply chains. The Banking Group is also looking for ways to encourage an overall reduction in emissions by expanding and deepening carbon markets. Since the creation of the world`s first carbon fund, supported more than a decade ago, the banking group has raised $4.36 billion through 18 carbon funds and initiatives and supported 145 active projects in more than 75 client countries. As the world ponders ways to increase climate finance, it is crucial to develop high-impact projects and consider the parameters of trade between providers and users of climate capital. Partnerships and coordination efforts, including through national platforms, and the development of innovative ways to pool the resources of private foundations and companies wishing to meet their net zero commitments will be essential to deliver available funding to impactful results. For broadcast requests: David W. Young, (202) 473-4691, dyoung7@worldbank.org In Washington: Ferzina Banaji, (202) 372-5885, fbanaji@worldbankgroup.org “We welcome the historic agreement that has just been reached in Paris,” said World Bank Group President Jim Yong Kim.
“The world has come together to forge an agreement that finally reflects the aspiration and seriousness of preserving our planet for future generations. The World Bank Group stands ready to provide immediate assistance and will do everything possible to make this vision a reality. With the adoption of a global climate agreement on December 12, the World Bank Group is moving quickly to help countries meet the commitments made in Paris. However, it`s not just about stopping funding. The economics of these investments are already sending a strong message about stranded assets. Instead, it`s about ensuring that entire communities aren`t stuck as part of the transition to a low-carbon environment. The CCAP speaks of a “carefully managed and fair approach, including safety nets and support for finding new jobs or developing new skills for the green economy.” All over the world, we need to involve workers in the fossil fuel industry – people with families, homes, plans for the future – whom we need to put at the centre of planning so that they also benefit from the new climate economy of the future. This interactive dashboard provides an up-to-date overview of carbon pricing initiatives around the world and allows users to navigate the visuals and data of the annual report on the status and trends of carbon pricing. Supporting adaptation measures in GuatemalaGuatemala is among the 10 countries in the world most affected by extreme weather events that are already reducing crop yields and causing food insecurity in some regions. Because of these threats, Guatemala`s NDC focuses on climate vulnerability. The NDC-SF supported the government in implementing the country`s NDC roadmap, which was developed through a participatory and multi-sectoral process. The roadmap has strengthened the capacity to plan, implement and monitor adaptation measures under the NDC.
The work provided a solid basis for dialogue and coordination of the implementation of NDC adaptation measures. In addition, synergies with mitigation objectives have been taken into account when prioritizing adaptation measures, which strengthens the overall implementation of NDCs. .