World Bank and Climate Change
To help get prices right, get finance flowing, and make progress where it matters most, the Bank focuses on five key areas:
• Building low-carbon, climate-resilient cities— particularly through assistance with low-carbon planning, energy-efficiency assessments, and finance—targets the fast-growing metropolitan areas, which are connected to 70 percent of global emissions
• Moving forward on climate-smart agriculture improves yields to feed a growing global population, reduces emissions, and adds carbon storage
• Accelerating energy efficiency and investment in renewable energy helps shifts the world away from high-carbon fossil fuels
• Developing carbon pricing helps set the right prices on emissions
Another important move that can make a difference quickly is reducing short-lived climate pollutants (SLCP)—such as soot from fires and diesel vehicles and methane from landfills and extractive industries. Countries can reap the added reward of reducing the impact on snow and glaciers and of lowering the costs to human health and crops.
Through the Global Facility for Disaster Reduction and Recovery, the Bank is helping developing countries reduce their vulnerability to natural hazards and adapt to climate change by mainstreaming disaster risk reduction and climate change adaptation in country development strategies.
Knowledge portals—including the Climate Change Knowledge Portal, the Climate Finance Options Platform, and the Platform for Climate Smart Planning—provide countries with cutting-edge information, analysis, and tools on climate change.
To tackle short-lived climate pollutants, the Bank launched a review of its own portfolio to identify ways to do more through its projects to reduce the emission of these pollutants and found that 7.7 percent of World Bank commitments, or approximately $18 billion, went into "SLCP-relevant" activities between 2007 and 2012.
Following the Bank's own Strategic Framework for Development and Climate Change in 2008 and the World Development Report on climate change in 2010, the Bank is developing a new Climate Action Plan that will enhance the resilience of countries, support inclusive green growth, and integrate climate risk assessments in investment decisions across the Bank Group's portfolio.