Carbon Prices now Apply to Over a Fifth of Global Greenhouse Gases

Carbon pricing generated $53 billion in revenue in 2020-21, but despite progress, carbon pricing efforts are not on track to meet Paris Agreement goals, new World Bank report finds

WASHINGTON, May 25, 2021 A total of 64 carbon pricing instruments are now in operation around the world, covering over 20% of global greenhouse gas emissions and generating $53 billion in revenue. According to the World Bank’s annual “State and Trends of Carbon Pricing” report released today, these advances represent a 17% increase in revenue from last year, However the full potential of carbon pricing remains largely untapped.

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Thinking Inside the ‘Box’: Pakistan Turns to Education TV During COVID-19

Story Highlights

  • In response to the COVID-19 pandemic, Pakistan quickly deployed the federal program TeleSchool for Pakistani students, and the provincial program Taleem Ghar for students in Punjab.
  • Viewership of these two initiatives was high during the first six months due to leveraged resources and stakeholders and a phased roll out approach, although awareness and use decreased right after.
  • Key challenges include improving student engagement, enhancing lesson content, increasing viewership, and leveraging TV lessons beyond the pandemic as part of blended learning.

How Digital Integration has Transformed Kenya’s Transport Sector

STORY HIGHLIGHTS

  • Digital technology has revolutionized Kenya’s transportation sector, making it easier and more secure to access essential transport services
  • The Transport Integrated Management System electronic data platform has reduced processing times for some services from months to days
  • The growth of Kenya’s ICT sector has become a significant driver of economic development and job creation in all areas

The Distributional Impacts of Trade: Empirical Innovations, Analytical Tools, and Policy Responses

Global trade will play a critical role in driving economic recovery from the COVID-19 pandemic,

ensuring the flow of food, medical supplies, and vaccines, and contributing to poverty reduction. But policies must be in place to ensure that gains from trade are spread across regions, industries, and workers in developing countries.

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World Bank Support for Country Access to COVID-19 Vaccines

As of May 13, 2021, the World Bank Board approved operations to support vaccine

Kuala Lumpur, Malaysia. 03rd Mar, 2021. A healthcare worker holds a vial of the Pfizer-BioNTech Covid-19 vaccine during the first phase of the country nationwide vaccination drive at the Hospital UiTM in Sungai Buloh, outskirts of Kuala Lumpur. Credit: SO

rollout in 22 countries amounting to $2.4 billion.  See the latest project financing, project documents and procurement information in the list below. More information will be shared here as it becomes available. We expect to reach 50 countries amounting to $4 billion by mid-year.

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Empowering local people to engineer their own futures: a new infrastructure planning approach

Climate change is challenging our status quo as the frequency of extreme weather events 1140x500-ninos-corriendokeeps increasing. Water scarcity could cost some regions up to 6% of GDP and floods could force hundreds of millions of people from their homes by 2050. At the same time, we’re facing a $15 trillion infrastructure finance gap.

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3 Day Event: Innovate4Climate (I4C)

Join Innovate4Climate 2021 from May 25 to 27.

The 3 day event, hosted by the World Bank Group, comprises high-level plenaries focusing on the most topical issues driving climate action in countries, as well as 60+ workshops focusing on solutions that are helping achieve a resilient and low-carbon future.

Attendance is free but you have to register.   

Registration Link

A green reboot for cities: Strategies for post-COVID growth

In the case of pandemics, billions of dollars in prevention are worth trillions of dollars for the cure. But how do we translate that simple insight into effective action that saves lives? 

Countries, influential stakeholders and institutions have largely failed to take preventative action, despite clear evidence of need following the SARS and avian influenza outbreaks. The consequences are clear, and the world is now paying the price for failing to take advantage of past opportunities to make prevention a priority.

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The Long Shadow of Informality: Challenges and Policies

A large percentage of workers and firms operate in the informal economy, outside the line of sight of governments in emerging markets and developing economies. This may hold back the recovery in these economies from the deep recessions caused by the COVID-19 pandemic—unless governments adopt a broad set of policies to address the challenges of widespread informality. This study is the first comprehensive analysis of the extent of informality and its implications for a durable economic recovery and for long-term development. It finds that pervasive informality is associated with significantly weaker economic outcomes—including lower government resources to combat recessions, lower per capita incomes, greater poverty, less financial development, and weaker investment and productivity.  Continue reading