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Bulgaria forum presentation
- 1. Climate change asa development challengeJariVayrynen, Sr. Environmental Specialist, World BankMeeting the challenge is not a choice between growth and climate change…a climate smart world is within reach if we act now, act together and act differently…… and build on new finance, technology and capacity at scale.
- 2. WB Strategic Frameworkfor Climate Chance and DevelopmentObjectives:Enable WBG to effectively support sustainable development and poverty reduction, as climate risks and climate-related economic opportunities arise
- 3. Facilitate global actionand interactions among all countriesKey principles:Working in partnerships guided by UNFCCC process
- 4. Country-led, country-driven, “noregrets” actions
- 5. Approach tailored tospecific needs of diverse clientsKnowledge &CapacityBottom Up MomentumMDB & UNPartnershipsResource MobilizationClimate Investment FundsRegional / Country Strategies
- 6. Financing Climate ChangeMitigationScale of financing needs for mitigation estimated by UNFCCC at $200 billion annuallyConcessional resources are very limited for low carbon investments in developing countries and transition economiesMobilizing private sector finance is crucialMarket mechanisms can play a central role
- 7. Finance scaled-up demonstration,deployment, and transfer of low carbon technologiesCountry Investment Plans:Support country development strategies
- 8. Leverage financial productsof International Financial Institutions
- 9. Stimulate private sectorengagementClean Technology Fund (CTF)± $5 billionTargeted programs with dedicated funding to pilot new approaches with potential for scaling upPilot Program for Climate Resilience: Mainstream climate resilience into core development planning
- 10. Forest Investment Program:Reduce emissions from deforestation and forest degradation
- 11. Scaling Up RenewableEnergy in Low Income CountriesStrategic Climate Fund (SCF)±$1 billion
- 12. Investmentplans endorsed witha total funding envelope of US$1.85 billionAverage leverage US$ 1 to 10 Pledges (+/-) US$5 billionEnergy Efficiency - Replacing inefficient lighting and appliances; expectedemissions reductions of 4 million tons of CO2 per yearUrban Transport - 20 bus rapid transit corridors with low-carbon bus technologiesRenewable Energy Proposed CTF » $500 million leverages » $6.2 billionMexicoTurkeyRenewable Energy - Implementing "intelligent" grid management and control systems to support large-scale integration of wind power Renewable Energy and Energy Efficiency - Promoting private sector development through credit lines to local development banks Proposed CTF » $250 million leverages » 2.1 billion Wind Power - From <1,000 MW to 2,500 MW of electricity from wind Urban Transport - Six bus rapid transit corridors and five light rail route Proposed CTF » $300 million leverages » $1.9 billionEgypt
Editor's Notes
- #2 A serious and immediate threat to development prospects, affecting disproportionately the poor.Increasingly severe warnings of the scientific communityDanger starts close to 2C warming above pre-industrial (likely the best we can achieve)Impacts already being felt, falling disproportionately on the poor (developing countries could bear 75-80% of the costs of CC damages while contributing for 35% of GHGs already in the atmosphere – 2% only for low-income countries)Economic growth alone is unlikely to be fast or equitable enough to counter threats from climate change. Action or inaction is not a matter of choice between growth and climate change.A climate smart world is possible if we:Act now, under the leadership of high-income countries to stay as close as possible: to address both the urgency of the problem as well as the tremendous inertia in the climate system, in infrastructure and human systems. Any delay will reduce development options for mitigation and adaptation and raise costs of action. Besides mitigation efforts to avoid the un-manageable, immediate and substantial adaptation efforts in countries that are most vulnerable (and already suffering from first signs of CC) are required.Act together, for equity and efficiency reasons: postponing mitigation in developing countries could double mitigation costs, and that could well happen unless substantial financing is mobilized. Act differently, to call upon the tremendous ingenuity the human race is capable of, in order to tackle a complex problem that affects all dimension of development.Still, a formidable challenge:Finance [scope of this presentation]Technology [radically transform energy systems, make climate-resilient investment] Capacity [to maximize impact of climate finance: build enabling environment, grab technology, financial innovation]