Climate and Development: A World Bank Report for Action
Headquarters of the World Bank in Washington.
AFP - DANIEL SLIM
Text by: RFI Follow
2 mins
Climate and development, a report for action.
On the eve of COP27, the World Bank publishes a global report on a series of studies carried out in more than 20 countries, including Argentina, Bangladesh, Turkey, but also Burkina Faso, Cameroon, Chad, Egypt or Ghana.
It shows that, on average, an annual investment of 1.4% of GDP could reduce emissions in developing countries by 70% by 2050.
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This report is intended to be a contribution on how developing countries can achieve their development objectives, but also energy transition.
“
We find, in all countries, that we can make massive reductions in emissions without sacrificing economic growth, development and poverty reduction.
So, in our reports, we have reductions of up to 70% in 2050. This reduction of 70% in 2050 is done without any impact on economic growth, or even with gains that are linked either to the fact that countries would need to import less fossil fuel, oil and gas, either gains related to air pollution, or gains related to efficiency when we have systems that are in terms of energy efficiency or in terms of congestion in cities, for example, and which are more efficient
,” explains Stéphane Hallegatte, Senior Advisor on Climate Change at the World Bank.
A series of conditions are put forward such as the proper implementation of policies, the involvement of the private sector and the protection of the most vulnerable populations.
To achieve this objective, the World Bank estimates that the investment of each State must be on average 1.4% of GDP.
“
This 1.4% hides the fact that we are more in the order of 1
% to 2% in high middle-income countries and rather above 5% in very low-income countries.
And so, for these very low-income countries, this does not represent absolute, gigantic sums because these countries are very poor, so even 5% of their GDP is not huge?
However, for these countries, if there is no aid to finance these investments, it will be very, very difficult to finance this transition
,” adds Stéphane Hallegatte.
Also, the World Bank calls on the richest countries to support these states with concessional aid, including donations.
The question posed by the report on Cameroon is how more poverty reduction can be achieved there in the decades to come.
It is a country which has enormous natural wealth, but which is very vulnerable to climate change and therefore the report proposes many measures to make better use of the country's natural resources.
Stéphane Hallegatte: Cameroon, a telling example
Charlotte Cosset
NEWS |
An investment of 1.4% of GDP per year would reduce #GHG emissions by 70% by 2050 and strengthen the resilience of countries.#ClimateActionWBG #ClimateAndDevelopmenthttps://t.co/F5NAysCkAL
— World Bank (@WorldBank) November 3, 2022
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