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A climate smart future (2) |
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14:19, September 21, 2009 |
Developed countries have produced most of the emissions of the past, and have high per capita emissions. These countries should lead the way by signficantly reducing their carbon footprints and stimulating research into green alternatives. Yet most of the world's future emissions will be generated in the developing world. These countries will need adequate funds and technology transfer so they can pursue lower carbon paths – without jeopardizing their development prospects.
We must act differently, because we cannot plan for the future based on the climate of the past. Tomorrow's climate needs will require us to build infrastructure that can withstand new conditions and support greater numbers of people; use limited land and water resources to supply sufficient food and biomass for fuel while preserving ecosystems; and reconfigure the world's energy systems. This will require adaptation measures that are based on new information about changing patterns of temperature, precipitation, and species. Changes of this magnitude will require substantial additional finance for adaptation and mitigation, and for strategically intensified research to scale up promising approaches and explore bold new ideas.
At this point, the diverse countries of the world have not sufficiently curbed emissions or financed developing countries. We need a new momentum. The current global economic turmoil must not hold us back – rather, it presents an opportunity to think anew. "Green" stimulus funds in many countries may jumpstart the innovation needed to address climate change problems. It is crucial that we reach a climate agreement in December in Copenhagen that integrates development needs with climate actions.
As a multilateral institution whose mission is inclusive and sustainable development, the World Bank Group has a responsibility to try to explain some of the interconnected challenges posed by climate change – challenges in development economics, science, energy, ecology, technology, finance, and effective international regimes and governance – and to build cooperation among vastly different states, the private sector, and civil society to achieve common goods.
The World Bank Group has developed several financing initiatives to help countries cope with climate change, including our carbon funds and facilities, which continue to grow as financing for energy efficiency and new renewable energy increases substantially.
We are trying to develop practical experience about how developing countries can benefit from and support a climate change regime – ranging from workable mechanisms for forestation and avoided deforestation through carbon trading systems, to lower carbon growth models and initiatives that combine adaptation and mitigation. In these ways, we can support the UNFCCC process and the countries devising new international incentives and disincentives.
Much more is needed. We need action on climate issues before it is too late. If we act now, act together, and act differently, there are real opportunities to shape our climate future for a safe, inclusive, and sustainable globalization.
The author is the president of the World Bank
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