World Bank Group Climate Change Action Plan 2021–2025 : Supporting Green, Resilient, and Inclusive Development

The Climate Change Action Plan 2021–2025 aims to advance the climate change aspects of CCAP-2021-25.pdfthe WBG’s Green, Resilient, and Inclusive Development (GRID) approach, which pursues poverty eradication and shared prosperity with a sustainability lens. In the Action Plan, we will support countries and private sector clients to maximize the impact of climate finance, aiming for measurable improvements in adaptation and resilience and measurable reductions in GHG emissions. The Action Plan also considers the vital importance of natural capital, biodiversity, and ecosystems services and will increase support for nature-based solutions, given their importance for both mitigation and adaptation. As part of our effort to drive climate action, the WBG has a long-standing record of participating in key partnerships and high-level forums aimed at enhancing global efforts to address climate change. The new Action Plan represents a shift from efforts to “green” projects, to greening entire economies, and from focusing on inputs, to focusing on impacts. It focuses on (i) integrating climate and development; (ii) identifying and prioritizing action on the largest mitigation and adaptation opportunities; and (iii) using those to drive our climate finance and leverage private capital in ways that deliver the most results. That means helping the largest emitters flatten the emissions curve and accelerate the downward trend and ramping up financing on adaptation to help countries and private sector clients prepare for and adapt to climate change while pursuing broader development objectives through the GRID approach.
 
Citation
“World Bank Group. 2021. World Bank Group Climate Change Action Plan 2021–2025 : Supporting Green, Resilient, and Inclusive Development. World Bank, Washington, DC. © World Bank. https://openknowledge.worldbank.org/handle/10986/35799 License: CC BY 3.0 IGO.”
 
 

World Bank Group Is Leading the Effort on Methane Emissions Reduction with Impactful Projects and Initiatives

Given the short-term potency of methane, cost-effective interventions to reduce landfill-1methane emissions should be an immediate priority for the sectors with the largest emissions. The agriculture, energy, sanitation and waste sectors are collectively responsible for 90-95% of global anthropogenic sources of methane:

  • Agriculture accounts for ~41% of methane emissions from human activity, including from rice cultivation and agriculture waste burning, manure management, and gas from cows and sheep;
  • Energy accounts for ~35%, including from oil and gas extraction, pumping, transport and coal mining;
  • Sanitation and waste account for ~20%, including from landfills and wastewater treatment.

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The World Bank and UNGA 77

The 77th session of the UN General Assembly (UNGA 77) convened on September 13, 2022 UNGAand ran through September 26, 2022. As the world faces broad crises driven by the global slowdown, the war in Ukraine, shortages of energy, fertilizer and food, rising interest rates and debt levels, and climate change, the World Bank Group was proud to join leaders from around the globe to discuss these pressing development issues and work with our global partners to find solutions to these challenges. 

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Is a Global Recession Imminent?

Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising Global-Recession-cover-285-220-2inflation and tightening financing conditions, has ignited a debate about the possibility of a global recession—a contraction in global per capita GDP. Drawing on insights gained from previous global recessions, this study presents a systematic analysis of the recent evolution of economic activity and policies, and a model-based assessment of possible near-term macroeconomic outcomes.

 

The Global Economy: on Track for Strong but Uneven Growth as COVID-19 Still Weighs

A year and a half since the onset of the COVID-19 pandemic, the global economy is poised to stage its most robust post-recession recovery in 80 years in 2021. But the rebound is expected to be uneven across countries, as major economies look set to register strong growth even as many developing economies lag.

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Webinar: Global Economy: Reversing the Scars of COVID-19

 

World Bank Live Presents : The COVID-19 pandemic has caused major disruptions in the global economy that could have  lasting adverse effects. If history is any guide, the global economy is heading for a decade of growth disappointments. Uncertainty about the post-pandemic economic landscape and policies has discouraged investment; disruptions to education have slowed human capital accumulation; concerns about the viability of global value chains and the course of the pandemic have weighed on trade and tourism.

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Storm Clouds Are Brewing for the Global Economy

The outlook for the global economy in 2019 has darkened. GEP-2019a-Front-Cover.jpg

International trade and investment have softened. Trade tensions remain elevated. Several large emerging markets underwent substantial financial pressures last year.

Against this challenging backdrop, growth in emerging market and developing economies is expected to remain flat in 2019. The pickup in economies that rely heavily on commodity exports is likely to be much slower than hoped for. Growth in many other economies is anticipated to decelerate.

In addition, risks are growing that growth could be even weaker than anticipated, the World Bank’s January 2019 Global Economic Prospects reports.


 

Global Economy to Edge Up to 3.1 percent in 2018 but Future Potential Growth a Concern

GEP2018a_Table1-1Current Slack in Global Economy Expected to Fade

WASHINGTON, January 9, 2018— The World Bank forecasts global economic growth to edge up to 3.1 percent in 2018 after a much stronger-than-expected 2017, as the recovery in investment, manufacturing, and trade continues, and as commodity-exporting developing economies benefit from firming commodity prices.

However, this is largely seen as a short-term upswing. Over the longer term, slowing potential growth—a measure of how fast an economy can expand when labor and capital are fully employed—puts at risk gains in improving living standards and reducing poverty around the world, the World Bank warns in its January 2018 Global Economic Prospects.

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World Bank-IMF Annual Meetings 2016 Development Committee Communiqué

Press Release; October 8th, 2016

1. The Development Committee met today, October 8, in Washington, D.C.

2. Global economic growth remains sluggish in 2016, with only a modest pick-up expected in 2017. Demand has remained soft despite highly stimulative monetary policies, foreign direct investment to developing countries has decreased, commodity exporters are adjusting to declines in exports, and wider geopolitical and economic uncertainties are weighing on confidence. We call on the World Bank Group (WBG) and the International Monetary Fund (IMF) to work jointly with countries to enhance synergy among monetary, fiscal and structural reform policies, stimulate growth, create jobs, and strengthen the gains from multilateralism for all.

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