Long-term Climate Strategies Critical to Ensuring Sustainable Recovery for Countries, Says New World Bank Report

An economy-wide approach can encourage countries and financial institutions to look beyond 3-5-year planning cycles and focus on the decades ahead,” said Juergen Voegele, the World Bank’s Vice President for Sustainable Development.The World Bank is supporting countries to think through what a sustainable recovery might look like, identifying ways we can support them to build back stronger and better.

The report lays out a series of recommendations to advance long term decarbonization in 8 areas that require cross-sectoral solutions, namely:

  • Food systems, recognizing that food production and supply systems need to scale up dramatically in the coming decades, but that they are also a major source of emissions and highly vulnerable to climate change;
  • Land-based ecosystems and carbon sinks, including forests, which are crucial to sustaining human life, but are growing sources of emissions due to land-use change and land degradation;
  • Energy systems, with a focus on decarbonizing and decentralizing the power sector, ensuring a plentiful supply of low-carbon electricity to meet growing demand, enhancing resource efficiency of energy production and use and aligning energy sector investments with climate goals;
  • Mobility, by reducing unnecessary travel through better land use planning and other strategies; shifting the modes by which people travel, including away from private vehicle use; and reducing emissions from all transport modes through technological innovation;
  • Low-carbon, resilient urban areas that increase livability, recognizing that by 2050, more than two-thirds of the global population will live in cities, which are major sources of emissions and highly vulnerable to climate impacts;
  • Water systems, which are already under growing pressure from climate change, play a central role in many sectors, and are a growing source of emissions;
  • The ocean economy, recognizing that the oceans directly support millions of livelihoods, provide vital ecosystems services, and absorb a large share of global emissions; and finally,
  • Digital transformation, including the potential for new technologies to help reduce emissions across all sectors and boost resilience, as well as to reduce the sectors own growing emissions.

Across each of these areas, the report offers an overview of World Bank engagement to date and identifies potential new frontiers for its technical assistance and lending.

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