14 May 2015
World Bank Outlines Steps to Global Zero Net Emissions Before 2100
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The World Bank has launched a report that outlines three steps for reaching zero net emissions globally before 2100.

In order to keep global temperature rise below 2ºC degrees Celsius, the report calls on governments to: avoid locking in damaging growth patterns; create incentives for investing in low-carbon growth; and establish support mechanisms for the poor and transformation opportunities for businesses.

World Bank11 May 2015: The World Bank has launched a report that outlines three steps for reaching zero net emissions globally before 2100. In order to keep global temperature rise below 2ºC degrees Celsius, the report calls on governments to: avoid locking in damaging growth patterns; create incentives for investing in low-carbon growth; and establish support mechanisms for the poor and transformation opportunities for businesses.

Focusing on policy options available for governments and businesses at the present, the World Bank report ‘Decarbonizing Development’ aims to help policy makers in developed and developing countries establish priorities for reducing greenhouse gas (GHG) emissions while pursuing broader development goals.

The World Bank study explains that the transition to zero net emissions is affordable “if governments start today,” and cautions that delaying action will lead to rising costs. It outlines the following measures required for decarbonizing development: “cleaning up” electricity sources; increasing the use of zero-carbon electricity; improving energy efficiency; and preserving natural carbon sinks, including through climate-smart agriculture and by keeping land and forests healthy.

The report argues that three steps are needed to reach zero net emissions before 2100, namely: planning for a low-carbon future; implementing policies that enable changes in investment patterns; and “smoothing” the transition by protecting the most affected. On planning, the report calls for each country to define a long-term target consistent with decarbonization, and develop short-term, national context-specific sectoral plans that contribute towards that target.

On policies, the report calls for both “getting prices right” through carbon pricing, fossil fuel subsidy reform and payments for ecosystem services (PES), and “going beyond prices” by implementing performance standards, lowering tariffs for green goods, and using fiscal instruments, among others. On managing the transition, the study suggests that additional resources collected through carbon pricing and saved via removal of environmentally harmful subsidies can be used to “improve equity, protect those affected, and, when needed, to appease opponents,” such as powerful lobbies.

The study adds that “although countries at different levels of income and with different endowments will adopt different strategies, all have a role to play.” Each country, according to the report, will need to interpret the three steps in the context of national needs, institutions and aspirations: low-income countries, for example, should focus on options consistent with poverty alleviation. [World Bank Press Release] [Publication: Decarbonizing Development] [World Bank Infographic]