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Fostering the Transition to the New Climate Economy - Live Webcast

Date: Monday, January 6, 2014
Time: 12:30 p.m. - 2:00 p.m. ET (17:30 – 19:00 GMT or convert time)
Location: World Bank Headquarters and Online

View the replay of the event below.

As most countries have started making serious investments in renewable energy, and many are implementing carbon prices and regulations, critics complain that such policies may undermine growth. This lecture discussed how public policy can help to promote investment and economic growth, create jobs, stabilize public finances, ensure reliable energy and reduce poverty while reducing emissions and building a more climate-resilient economy.

About the DEC Lecture Series:
The Development Economics Vice Presidency (DEC) launched its lecture series in April 2005 to bring distinguished academics to the Bank to present and discuss new knowledge on development. The purpose of the Lecture Series is to introduce ideas on cutting edge research, challenge and contribute to the Bank's intellectual climate, and reexamine current development theories and practices.

Follow this event on Twitter with hashtag #wblecture

View a replay of the live blog below.



I.G. Patel Professor of Economics, London School of Economics
Senior Vice President and Chief Economist, World Bank Group
Read what others are asking
Dr. Ashish Manohar Urkude
Probability of climate reversing seems to be nil, thus change will be the only constant in future businesses. Hence, my question is, how would World Bank develop its policies for sustainable businesses, with various countries? Also, how will world bank reach to SME's and micro enterprizes and help them sustain? Computers and Internet are still inaccessible to them, as either they don't have employees who can operate Computers or they can't afford it, I've seen it in recent visits to SME's and small agro businesses in distant villages in India, hence, this question.
Rein Vrins
Dear Sirs, Do you think the concept of economic growth will also transition together with the new climate economy to incorporate broader public goals and challenges?
Nirmalan Dhas
Sri Lanka
The credibility of whatever efforts may be expended towards the transformation of the global civilization of the human species into a sustainable one depends both on available resources as well as required time because the human species requires a considerable quantum of resources per unit of time in order to continue to support its currently global civilization and prevent its collapse. 1.Hence: Total available resources - Resources required for the transformation process / Resource consumption per unit of time = Time we have left in order to commence this transformative process. In addition to this the fact that we continue to see how the damage caused by the increasing number of hazard impacts demands time and resources for reconstruction and rehabilitation and that these tasks are taking more and more time and give the appearance of not ever going to be completed requires that we develop another metric which is as follows: 2. Possible Development = Available resources – resources required for reconstruction and rehabilitation. 3. Civilizational Survival period = Available resources – Resources required for reconstruction and rehabilitation/resource consumption per unit time. I would like to know what it is that continues to prevent the making of these three vital calculations and if methodology and human resources is the problem then why are funds not being made available to organizations who can do so? I would also like to know why instead of resourcing those who are able to respond to such questions there is instead a continuing policy of 'harvesting' their perceptual content without payment for the time and effort and expenditure that goes into structuring their inputs which in effect amounts to robbery? The transformation of the global civilization of the species Homo sapiens, into a credible one requires the collaboration of human individuals with the most advanced perceptual capacities as well as the formulation of processes that increase perceptual capacities. Can the species comprehend these requirements and will it be willing to respond?
Andrew Spezowka
The transition to a new climate economy demands a rethink on petroleum reserves, a large portion of which would become stranded assets stuck in the ground. What does an orderly write-down of stranded oil assets look like, particularly as energy companies trade largely as a ratio to proven reserves? With share prices set for a precipitous fall, especially in stock markets with intensive market capitalization in hydrocarbons, how do we deflate the balloon before it bursts?
Anna Kele
Has the industry prepared for the climate change disasters (floods, heavy rains, tzunamies etc.) ? (I mean with new materials and vehicles for fast reparation of the damages.)
Greg Jones
United States
Please discuss carbon footprint of air travel. Thanks!