World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization

Outlook 2050 examines how the World Bank can help countries plan for and achieve long-term decarbonization: through country programs, technical assistance, lending, and knowledge products. It identifies key trends in technology, markets, financing instruments, and consumer priorities, and examines t...

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Main Authors:	Mukhi, Neha, Rana, Suneira, Mills-Knapp, Sara, Gessesse, Eskedar
Format:	Strategy Note
Published:	World Bank, Washington, DC 2020
Subjects:	CLIMATE CHANGE CLIMATE ACTION CARBON POLICY DECARBONIZATION WORLD BANK GROUP STRATEGY PUBLIC EXPENDITURE CLIMATE RISK GREENHOUSE GAS EMISSIONS CLIMATE RESILIENCE CLIMATE CHANGE IMPACT
Online Access:	http://hdl.handle.net/10986/33958

id	okr-10986-33958
recordtype	oai_dc
spelling	okr-10986-339582021-05-25T10:54:36Z World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization Mukhi, Neha Rana, Suneira Mills-Knapp, Sara Gessesse, Eskedar CLIMATE CHANGE CLIMATE ACTION CARBON POLICY DECARBONIZATION WORLD BANK GROUP STRATEGY PUBLIC EXPENDITURE CLIMATE RISK GREENHOUSE GAS EMISSIONS CLIMATE RESILIENCE CLIMATE CHANGE IMPACT Outlook 2050 examines how the World Bank can help countries plan for and achieve long-term decarbonization: through country programs, technical assistance, lending, and knowledge products. It identifies key trends in technology, markets, financing instruments, and consumer priorities, and examines their implications for climate action, economic growth strategies and development. Supporting countries in a transition to long-term decarbonization requires the World Bank to not only look 3–5 years ahead, roughly equivalent to typical election cycles, but look decades ahead, and then work with our clients to determine the near- and mid-term implications. It will also mean supporting the implementation of economy-wide strategies as well as cross-sectoral initiatives, not only focusing on single-sector initiatives, such as individual energy or transportation projects. Coinciding with a need for a major, global economic recovery – triggered by the COVID-19 (coronavirus) pandemic – this ‘whole of economy' approach to deliver better growth and a better climate could provide the sustainable and resilient foundation for countries as they build – or rebuild – their economies. The Outlook 2050 approach prioritizes four economy-wide strategic directions: 1. Embed long-term climate priorities in country macroeconomic frameworks, to ensure that those frameworks, which guide fiscal policy and major national investments, properly account for climate risks and the benefits of ambitious climate action. 2. Embed long-term climate planning in national budgets and expenditure frameworks, to provide adequate budgetary support for climate action, optimize the overall allocation of public resources, and unlock private financial flows. 3. Embed long-term climate objectives in financial sector regulations and incentives, to ensure that the sector is resilient both to climate change impacts and to low-carbon transition risks, and to mobilize finance for climate action. 4. Embed long-term climate objectives in systems planning, to integrate climate with economic, social inclusion, and other objectives; assess cross-sectoral links and regional impacts; and identify trade-offs and synergies. 2020-06-22T16:36:40Z 2020-06-22T16:36:40Z 2020-06-24 Strategy Note http://hdl.handle.net/10986/33958 CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Publications & Research
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
topic	CLIMATE CHANGE CLIMATE ACTION CARBON POLICY DECARBONIZATION WORLD BANK GROUP STRATEGY PUBLIC EXPENDITURE CLIMATE RISK GREENHOUSE GAS EMISSIONS CLIMATE RESILIENCE CLIMATE CHANGE IMPACT
spellingShingle	CLIMATE CHANGE CLIMATE ACTION CARBON POLICY DECARBONIZATION WORLD BANK GROUP STRATEGY PUBLIC EXPENDITURE CLIMATE RISK GREENHOUSE GAS EMISSIONS CLIMATE RESILIENCE CLIMATE CHANGE IMPACT Mukhi, Neha Rana, Suneira Mills-Knapp, Sara Gessesse, Eskedar World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
description	Outlook 2050 examines how the World Bank can help countries plan for and achieve long-term decarbonization: through country programs, technical assistance, lending, and knowledge products. It identifies key trends in technology, markets, financing instruments, and consumer priorities, and examines their implications for climate action, economic growth strategies and development. Supporting countries in a transition to long-term decarbonization requires the World Bank to not only look 3–5 years ahead, roughly equivalent to typical election cycles, but look decades ahead, and then work with our clients to determine the near- and mid-term implications. It will also mean supporting the implementation of economy-wide strategies as well as cross-sectoral initiatives, not only focusing on single-sector initiatives, such as individual energy or transportation projects. Coinciding with a need for a major, global economic recovery – triggered by the COVID-19 (coronavirus) pandemic – this ‘whole of economy' approach to deliver better growth and a better climate could provide the sustainable and resilient foundation for countries as they build – or rebuild – their economies. The Outlook 2050 approach prioritizes four economy-wide strategic directions: 1. Embed long-term climate priorities in country macroeconomic frameworks, to ensure that those frameworks, which guide fiscal policy and major national investments, properly account for climate risks and the benefits of ambitious climate action. 2. Embed long-term climate planning in national budgets and expenditure frameworks, to provide adequate budgetary support for climate action, optimize the overall allocation of public resources, and unlock private financial flows. 3. Embed long-term climate objectives in financial sector regulations and incentives, to ensure that the sector is resilient both to climate change impacts and to low-carbon transition risks, and to mobilize finance for climate action. 4. Embed long-term climate objectives in systems planning, to integrate climate with economic, social inclusion, and other objectives; assess cross-sectoral links and regional impacts; and identify trade-offs and synergies.
format	Strategy Note
author	Mukhi, Neha Rana, Suneira Mills-Knapp, Sara Gessesse, Eskedar
author_facet	Mukhi, Neha Rana, Suneira Mills-Knapp, Sara Gessesse, Eskedar
author_sort	Mukhi, Neha
title	World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
title_short	World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
title_full	World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
title_fullStr	World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
title_full_unstemmed	World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization
title_sort	world bank outlook 2050 strategic directions note : supporting countries to meet long-term goals of decarbonization
publisher	World Bank, Washington, DC
publishDate	2020
url	http://hdl.handle.net/10986/33958
_version_	1764479898665091072

World Bank Outlook 2050 Strategic Directions Note : Supporting Countries to Meet Long-Term Goals of Decarbonization

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