[UPBEAT MUSIC]

[LIVE: WASHINGTON, DC]
Day 3 of the 2021 Spring Meetings.

And we're back live in the World Bank Group headquarters

here in Washington, D.C.

[SRIMATHI SRIDHAR; WORLD BANK GROUP]
I'm, Srimathi Sridhar, and we're just moments away from our headline event,

Key Green Transitions for People and Planet.

But before that, let's take a quick look

[MOMENTS AWAY: SPRING MEETINGS 2021]
at what you can expect from today's program and how you can get involved.

[UPBEAT MUSIC]

The World Bank Group IMF meetings are virtual once more.

And while our buildings are relatively empty when compared to past years,

you connecting wherever you are,

have more opportunity than ever to take part.

For weeks, we've been convening and recording

in-depth conversations with some of the world's leading experts

on the most urgent development issues of our time.

Now for these Spring Meetings we're proud to bring you four events

that will play out over four days and cover four important themes.

Economic recovery, debts, climate, and vaccines.

And while the main events are recorded,

our subject matter experts are standing by live online right now

to answer your questions and share your comments.

Hi, I'm Nesh Mescher.

As each event plays my colleagues and I will be answering your questions

in English, French, Spanish, and Arabic in the live chat at live.worldbank.org.

And while you're here, please vote in our poll.

There will be a new question every day.

And after each event, we'll be back here live

from our headquarters in Washington, D.C.

And on this socially distanced set,

we'll be putting some of the most popular questions that have come in online

to senior World Bank Group leaders and experts.

So what are you waiting for?

Find all the details and share your perspective, live.worldbank.org.

[LIVE: WASHINGTON, DC]
And to have your say in today's event use #GreenRecoveryWBG.

[MOMENTS AWAY: KEY GREEN TRANSITIONS]
Now I'll be back here in about an hour and a half

[HOW SYSTEMS ARE CHANGING FOR PEOPLE AND PLANET]
for a live discussion with the World Bank's Mari Pangestu,

and the International Finance Corporation's Stephanie von Friedeburg.

This conversation will feature some of your top questions

and I'll also be sharing the results of today's poll and much more.

So I hope you'll stick around and join me.

But now let's jump into today's program,

Key Green Transitions: How Systems are Changing for People and Planet,

hosted by Salina Abraham.

[UPBEAT MUSIC]

[SPRING MEETINGS 2021 VIRTUAL WORLD BANK GROUP INTERNATIONAL MONETARY FUND]

[GREEN TECHNOLOGY]

[FOOD SECURITY]

[SMART CITIES]

[GREEN TRANSPORTATION]

[KEY GREEN TRANSITIONS: HOW SYSTEMS ARE CHANGING FOR PEOPLE AND PLANET]

Welcome everybody and thank you for joining us.

[SALINA ABRAHAM]
Today we are exploring how we can turn our ambition to tackle climate change

into real results.

Climate change didn't slow down in 2020.

In terms of records, it tied with the warmest year ever.

It broke the record for the most wildfires

and the most hurricanes in the Atlantic.

It was also linked to the desert locust outbreak

that hit Africa, the Middle East, and parts of South Asia

with severe implications for food security and for livelihoods.

We know that solutions to address climate change are needed everywhere,

but most urgently in developing countries where the investment gap is greatest

and where people are worst affected by the climate crisis.

My name is Salina Abraham, and over the next hour

we'll be joined by a host of top-level guests,

including the US Special Presidential Envoy on Climate, John Kerry,

Prince William, the Duke of Cambridge,

as well as ministers, CEOs, young leaders, and civil society representatives.

They will share their thoughts

on what a green, inclusive, and resilient future could look like

and how we get from here to there.

[UPBEAT MUSIC]

[COMING UP]

[MEETING THE CLIMATE CHALLENGE]

[JOHN KERRY; US SPECIAL PRESIIDENTIAL ENVOY FOR CLIMATE]

[SRI MULYANI INDRAWATI; MINISTER OF FINANCE, INDONESIA]

[SHEMARA WIKRAMANAYAKE; MANAGING DIRECTOR AND CEO, MACQUARIE GROUP]

[DAVID MALPASS; PRESIDENT, WORLD BANK GROUP]

[PROTECTING THE NATURAL ENVIRONMENT]

[PRINCE WILLIAM, DUKE OF CAMBRIDGE]

[TRANSFORMING ENERGY SYSTEMS]

[MALIK AMIN ASLAM; MINISTER FOR CLIMATE CHANGE, PAKISTAN]

[DAMILOLA OGUNBIYI; CEO, SUSTAINABLE ENERGY FOR ALL]

[LUCY HEINTZ; PARTNER AND ENERGY FUND MANAGER, ACTIS]

[TRANSFORMING CITIES AND TRANSPORATION]

[DR. YASMINE FOUAD; MINISTER OF ENVIRONMENT, EGYPT]

[BRIAN ARBOGAST; DIRECTOR, WATER SANITATION/HYGIENE, BILL & MELINDA GATES FOUNDATION]

[CLAUDIA DOBLES CAMARGO; FIRST LADY, REPUBLIC OF COSTA RICA]

[AGNES KALIBATA; UN SPECIAL ENVOY, 2021 FOOD SYSTEMS SUMMIT]

[SULTON RAKHIMZODA; CHAIRMAN, EXECUTIVE COMMITTEE, INTERNATIONAL FUND FOR SAVING THE ARAL SEA]

[GUNHILD STORDALEN; FOUNDER, EAT]

[THE FUTURE OF FOOD SYSTEMS]

[LOOKING AHEAD TO COP26]

[ALOK SHARMA; PRESIDENT, UK COP26]

[SPECIAL PERFORMANCE AHMED BADR; POET, AUTHOR, & SOCIAL ENTREPRENEUER]

What an incredible lineup.

Before we launch into our first discussion,

a reminder that there are lots of ways for you to get involved in this event.

We're streaming in English, French, Spanish, and Arabic

on World Bank Live and across our social media channels.

[LIVE.WORLDBANK.ORG]
World Bank Live is also where you'll find our experts,

poised to answer your questions in the live chat.

And you can also upvote your favorite questions.

We'll be putting some of them to two of the bank's top experts

straight after this event.

And don't forget, you can always share your comments at any time

[#GREENRECOVERYWBG]
using the hashtag "GreenRecoveryWBG."

Now to kick us off, the president of the World Bank Group, David Malpass,

is joined by an all-star panel

to discuss some of the big issues facing countries

as they meet the climate challenge.

Welcome everybody to our discussion.

It's a pleasure to be here today with Secretary John Kerry,

[WASHINGTON, DC, USA; JAKARTA, INDONESIA; SYDNEY, AUSTRALIA]
Her Excellency, Sri Mulyani Indrawati, and Shemara Wikramanayake

to talk about one of the most defining issues of our time.

Climate change.

Climate change is a key priority

[DAVID MALPASS; PRESIDENT, WORLD BANK GROUP]
and it's critical for the World Bank Group to deliver on our goals

to reduce poverty and boost shared prosperity.

Last year, my first year as World Bank Group president,

we delivered the biggest climate investment in our history at $21.4 billion.

We're on track for this year to be bigger still.

In consultation with our board,

we're finalizing a new climate change action plan.

Through this plan, we aim to increase the World Bank Group's impact

on greenhouse gas emissions and adaptation outcomes

by increasing climate finance,

improving and expanding diagnostics to prioritize climate related actions,

and focusing on climate results to deliver impact.

The bank will prioritize transitions in key systems.

It will use its convening power to support a just transition out of coal.

And the World Bank Group will become aligned

with the principles and goals of the Paris Agreement.

So I'm delighted to be here today with this distinguished panel.

Let's dive right in.

I'm looking forward to hearing your thoughts

on specific actions that we can all do together

to have the biggest impact on greenhouse gas reduction and adaptation.

So with that, let me turn to Secretary John Kerry.

Thank you for being here today to lead off our climate event.

This is a critical year for climate in the run-up to Glasgow, to the Summit,

and one where we have to have an impact.

So I'm wondering, could you go through what the US ambition is on climate

and what are the specifics?

What are the next steps and what are the key areas to move forward in?

Thank you, Secretary Kerry.

Well, thank you, David, it's a privilege to be here with everybody

and I'm delighted to be with my fellow panelists.

[JOHN KERRY; US SPECIAL PRESIDENTIAL ENVOY FOR CLIMATE]
This is the critical fight for all of us.

And I know that sounds a little highfalutin to some people,

but the evidence, the science

is coming back at us stronger, harder, bigger, faster.

And it's telling us that we are running out of time,

which is what scientists say.

Not political people, not ideological... science.

And the science told us that we left Paris in 2015

with an agreement that we would all work together

to hold the Earth's rise of temperature well below two degrees.

And aspirationally we set the target of trying to get to 1.5 degrees Celsius.

As of today, almost no country on the planet is meeting the target.

In fact, if we did everything we said we would do in Paris,

the Earth's temperature is still going to rise to about 3.7 degrees or higher.

There are some scientists saying we're in the four, 4.1, 4.5...

Absolutely catastrophic,

and not worth the fight between the differential because it's all catastrophic.

So what do we do?

We go to Glasgow,

which is the last best opportunity we have to get real and serious.

And if we say this is an existential threat, we have to treat it like that.

Which means all nations, particularly the developed world nations,

the 20 nations that are the equivalent of 81%

of all the emissions on the planet,

those nations must step up with 2020 to 2030 targets of reduction

that keep us within the range of achieving the 1.5 degrees.

And then being able to lay out a roadmap taking us to 2050,

which is net zero by 2050.

So all of us have a responsibility to adopt NDCs,

to reduce our emissions

at a level that will allow us to hold onto the hope

for the vast majority of nations in the world

that are not contributing to this massive emissions

and who are going to be, many of them, the greatest victims of it.

So it is essential we raise ambition, we make Glasgow the next step

in defining not what we're willing to do, but what we really need to do

in order to be able to get the job done.

Thank you, Sri Mulyani, tell us about Indonesia.

What are the highest priorities on climate for Indonesia

and how can those be achieved?

Well, thank you very much, David.

It's good to see you all today.

[SRI MULYANI INDRAWATI; MINISTER OF FINANCE, INDONESIA]
I think when we discuss about the climate,

definitely we have a starting point that is the Paris Agreement.

And that means that the countries

who announced a national determined commitment in reducing the CO2...

I think we all agree, especially for many countries,

that there will be a cooperation at the global level.

Each country has their own commitment.

For Indonesia, we reduced by 29% by our own effort and resources

and 42% if it is supported by the global effort

especially by advanced countries.

Now we have this COVID, which is definitely affecting significantly, David.

Because first, even if we are going to try to invest

on the infrastructure which tilts the balance in this case

toward more or less carbon emission, there will be quite a constraint.

First, we are now fighting to stimulate the demand.

And sometime in stimulating the demand,

whether it is just on a consumption, investment,

there is a trade off on a CO emission.

We cannot definitely transform it immediately

because they will require more resources

in which many countries, which are now facing with this COVID,

they are now facing with the fiscal constraint.

So there is really a huge priority.

And COVID is really taking huge resources.

As a finance minister, I really can testify

that this is really taking a huge resource.

Not only just a huge resource, but also the level of uncertainty.

We really don't know when this is going to end,

so there's really always like dynamic between priority.

So at least we have two years gone because of this COVID.

And also resources, we just shift into this fighting against COVID

and the implication on social and economy.

Now back to this climate change.

I think for a country, they really have to then deliver

what they should deliver according to the agreement.

Of course, as I said earlier, the NDC is a starting point.

But as Secretary Kerry mentioned earlier, this is not going to be enough.

But even on this NDC, I think what I can observe as a finance minister, David,

is first how you are going to like do the transition

or design the transition from the business as usual

into significantly reduced CO2 emission for a country.

And how we are going to design the recovery of the economy

while we're, at the same time, strengthening this commitment

on a climate change agreement.

And this is what we discussed, first on the energy.

When we have this COVID, David, the demand for energy declined significantly

because business, industry... the only one which is picking up is household

because everybody like worked from home.

But this is really a reduction on the demand for energy.

Now for a country like Indonesia,

who's already built quite an excess capacity.

And especially also built some of it is from coal.

That means that if you are going to build a renewable,

you really have to invest in a new renewable,

and retire the existing one while the demand is so weak.

So this is really like a triple hit for all of us.

Not to mention that if you try to tilt this using markup mechanism,

then whether this is going to then backfire to your need

to recover the economy, especially on a demand side.

So these are all really policy choices, but also the policy consequence

that really needs to be like looked at in a very detailed discussion.

I've already mentioned, Secretary Kerry also,

many of the power purchase agreement is a long-term power purchase agreement.

And that means you cannot just like shut it down immediately.

There will be legal consequences.

And that's why this is something that we really need to open it very detailed

when we want to comment on this global effort.

So what I'm saying

is that this is not going to be just like our determination

and then not translate it into action,

which then have the consequence on our choices of policy,

resources, and even sometimes a legal implication for many countries.

Thank you.

Very interesting.

And Shemara, you head a diversified financial services company.

Tell us how you see climate ambition and how does this feed together?

What does it mean for your business?

[SHEMARA WIKRAMANAYAKE; MANAGING DIRECTOR & CEO, MACQUARIE GROUP]
I might just start with saying what a privilege it is

to join this esteemed panel on this very big topic.

For Macquarie, I'd start with our purpose statement,

which is basically empowering people to innovate and invest for a better future.

And addressing this climate challenge

is a big part of delivering that better future for us.

But the way we go about doing that

is empowering not just our people, but our counterparts,

our clients, our communities, the governments, and regulators

in terms of innovating investment solutions for the large pools of capital

that are out there in the world to address these challenges.

And there are three main areas where we're trying to help

in terms of all the issues that have been raised so far

with bringing investment, particularly for emerging countries.

The first of those is in mitigation solutions.

And that's in infrastructure across all areas,

be it energy, transportation, buildings, agriculture, etc.

And I'm happy as we go on to talk in more detail about that.

The second is in building resilience in existing infrastructure,

because we were talking about the weather events

we're having here in Australia currently, but climate change is upon us.

And we are going to have to make our food supply chains,

our infrastructure and transportation etc., more resilient,

which will require investment.

And the third thing then is in terms of helping our clients

and also the communities we work in

in terms of that transition where they're in high-emission industries,

to do that in a considered way so that we thread the needle

in terms of the economic issues that were being discussed.

The impacts on jobs, blackout risks, power price surge risks.

While we do this transition to addressing the climate challenges.

And that's going to require balancing and considered gradual transition.

And as far as we're concerned we,

as part of our business are the world's largest infrastructure manager,

and we've just recently...

were one of the first asset managers to make a commitment

to net zero emissions by 2040.

And that's catalyzing a lot of others in our industry as well

who are intermediaries between connecting

the capital of the world with the investment solutions

to bring momentum behind this area.

Thank you, that's very informative.

I wonder if we can end with Secretary Kerry.

How big is the problem that we're facing

and how do we make progress through markets,

through public-private partnerships?

This is as big a challenge as any of us have ever faced.

But we're looking at the opportunity

to take part in the largest market the world has ever known.

Four and a half to five billion users today.

Already multi trillion-dollar market in double digits.

And it's going to grow to nine billion users in the next 30 years

with huge sums of money that will be invested in

and ultimately made in the marketplace

by those who are investing in this future.

That's happening.

You're seeing already,

I think it was about 500 billion plus that was invested last year.

The projections in the United States from the labor statistics

are there are three job categories

that will grow more than 50% this next year in America.

The first at 62% is wind turbine technician.

The second is a practitioner, nurse practitioner.

We know why that's growing.

And the third is solar panel installer, it's happening.

Already, the market is moving

and that's why I think it shouldn't be that difficult

to create this new financial instrument.

I'm not a financial engineer, but I know that we're...

I mean, we had about 13 to $17 trillion

sitting in net negative interest status in the last years, are you kidding me?

Net negative interest.

Paying for the privilege of being parked somewhere

when there were obviously things to invest in and do around the world

that could have earned you a decent return on investment.

So we have to get real and serious about this opportunity.

It is the challenge of our generation with the next generations.

And they're the ones who've been calling us to account,

asking why the adults can't get this done.

So I think the challenge is clear.

I think the opportunities are equally as clear.

What we have to do now is summon the creativity

and the personal energy of our countries to commit to doing this.

And I think it'll be something that's amazingly exciting

because the quality of life will improve.

Cleaner air, cleaner water, more people employed,

a greater energy independence, greater security between nations

and I think a huge kickstart to the post-COVID world.

Fabulous, thank you all three.

The World Bank is in the middle of many of these issues.

So we want to work with all of you on how do we get to the next steps.

What are the highest priority things that we can get done?

So again, thank you so much for joining today.

[SUVA, FIJI]
<i>Bula.</i> I'm Samir in Suva, Fiji,

and you're watching the World Bank Group and IMF Spring Meetings.

Thank you to David and his guests.

Some important guidance there on how we can turn climate action into reality.

And the conversation didn't stop there.

[LIVE.WORLDBANK.ORG/CLIMATE]
You can watch the full discussion using the link below.

So clearly 2021 is a big year for climate and for nature.

Supporting communities

to protect their natural environment for future generations

has been a priority for Prince William, the Duke of Cambridge.

We asked him to share his thoughts

on why nature should be a priority for us all.

[PRINCE WILLIAM]
Hello, everyone, it is an honor to be joining you today at the Spring Meetings

to talk about the intrinsic link between nature and climate change.

Protecting and restoring nature is critical

to the success of COP26 in Glasgow later this year.

And for the brighter, greener, more prosperous future that we all want to see.

We cannot recover sustainably from coronavirus,

eradicate global poverty, achieve net zero emissions,

or adapt to climate change without investing in nature.

The evidence is clear.

Nature continues to decline at an alarming rate.

And in the short term,

it is the world's most vulnerable communities who are most affected.

A billion people depend on declining fish stocks

as their main source of protein.

And the livelihoods of another billion people

depend on the forests that we are cutting down.

Helping those people should be reason enough to act.

But the fact is we all depend on the natural resources that we are depleting.

And yet nature is also part of the solution.

That's why finding ways to both protect and restore nature

and fix our climate are integral to the Earthshot Prize

that I launched last year.

We must invest in nature through reforestation,

sustainable agriculture, and supporting healthy oceans.

Because doing so is one of the most cost-effective and impactful ways

of tackling climate change.

It removes carbon from the atmosphere, helps build more resilient communities,

tackles biodiversity loss, and protects people's livelihoods.

This is crucial if our children and grandchildren

are to live sustainably on our precious planet.

Yet investing in nature remains a small part of global efforts

and accounts for a fraction of the money

that is spent on the fight against climate change.

All of you here at the World Bank

and across each of the multilateral development banks

have a crucial part to play.

By supporting a green, inclusive, and resilient recovery from the pandemic.

By valuing nature and putting it at the heart of your work.

And by increasing investment in a future where the natural world can thrive.

COP26 is a vital step on the path to putting nature center stage

in our fight against climate change.

The decisions that leaders took in Glasgow

will echo down the generations for years to come.

So let's make it count.

A huge thank you to Prince William for sending us that special message.

We've got lots more great speakers lined up,

but now another chance to get involved.

We are asking you to vote in our special poll.

You've just been hearing about some of the ideas for a sustainable recovery.

So by 2050, do you think green resilience and inclusive development will have been

A, achieved, B, underway, but not complete, or C, still a distant goal?

So the question is by 2050,

do you think green resilience and inclusive development

will have been A, achieved, B, underway but not complete,

or C, still a distant goal?

[LIVE.WORLBANK.ORG]
You can cast your vote at live.worldbank.org,

and we'll be revealing the results of the poll at the end of this program

live from the World Bank Group's headquarters in Washington, DC.

So what does a green, resilient, and inclusive future look like?

The key economic systems of energy, cities, and transport,

and of food and land use

hold the key to limiting the worst impacts of climate change.

These are the sectors where countries can reduce emissions enough

to limit the worst impacts of climate change.

And they are the sectors

where we need to see the most meaningful and rapid changes.

What could these transformations mean?

Take a look.

<i>Imagine a world where sustainably managed farms</i>

<i>provide nourishing produce and are home to healthy animals.</i>

<i>Where every village and town is powered by clean energy.</i>

<i>Where clean, green cities have safe, affordable,</i>

<i>and non-polluting transit systems.</i>

<i>Thankfully, such a world isn't far away.</i>

[UPBEAT MUSIC]

<i>In most countries, solar and onshore wind</i>

<i>are now the cheapest ways of generating new electricity.</i>

<i>Climate-Smart Farming is breathing life back into degraded lands.</i>

<i>Electric mobility is getting people moving.</i>

<i>But we need to go further to tackle the climate emergency.</i>

<i>And post-pandemic, there is a unique opportunity</i>

<i>to put people at the heart of a green transition</i>

<i>in food and land use, cities and urban infrastructure,</i>

<i>transport, energy, and manufacturing.</i>

<i>This will enable us to build lower carbon systems for electricity and transport,</i>

<i>improve the way we heat and cool buildings, and reduce our carbon footprint.</i>

<i>Bringing balance to ecosystems and restoring nature.</i>

<i>Green transitions can also unlock opportunities for sustainable growth,</i>

<i>creating millions of new jobs</i>

<i>and building a vibrant economy for the 21st century.</i>

<i>So we're raising our ambition and setting new targets.</i>

<i>Thirty-five percent of World Bank Group financing</i>

<i>will be used to help countries address climate change.</i>

<i>And we're working to become fully aligned</i>

<i>with the principles and goals of the Paris Agreement,</i>

<i>putting people at the center.</i>

<i>Together we can create a future that is green, resilient, and inclusive for all.</i>

[WWW.WORLDBANK.ORG/CLIMATECHANGE #CLIMATEACTIONWBG]

[THIS FILM WAS MADE FROM RECYCLED FOOTAGE. NO FLIGHTS WERE TAKEN]

So let's dive straight into our first green transition.

Clean energy.

Energy is essential for development,

but today nearly 800 million people live without electricity

and hundreds of millions more live with insufficient or unreliable access to it.

Nearly three billion people cook or heat their homes

with polluting fuels, which harm our health.

Energy accounts for around three quarters

of gross global greenhouse gas emissions,

so we have to get this transition right.

To paint a picture of the global energy landscape,

we asked Raj Shah, the CEO of the Rockefeller Foundation, to share his thoughts

on how to secure affordable, reliable, sustainable,

and modern energy services for all.

Greetings.

We are in the middle of an incredible pandemic.

[RAJ SHAH; PRESIDENT, ROCKEFELLER FOUNDATION]
A pandemic that's caused a tremendous amount of deaths

and huge consequences for poverty, hunger, disease, and gender equality.

This unwinding of decades of progress

undermines the work that the World Bank, the IFC, and so many others have done

to make sure that people are moving out of poverty.

Together, we now need to rededicate ourselves

to make sure that the recovery from this pandemic

is, in fact, inclusive of everyone.

And together we can.

The Rockefeller Foundation will do our part.

We are committing one billion dollars to support energy transitions

and bring new renewable electrification technologies to everyone who needs it.

Advances in technologies, batteries, solar, artificial intelligence,

now make it possible to end energy poverty within the next decade.

This will allow a billion people to be part of an inclusive and just recovery.

I'm excited we're doing this work together with the World Bank and the IFC

and together with so many other partners, public and private around the world.

And I am optimistic that by working together, this recovery will be a chance

to realize our highest ambitions for justice and equity and inclusion.

Thank you.

Great insights from Raj Shah.

Keeping that vision in mind,

let's take a look at how the World Bank Group

is supporting countries with the energy transition.

[UPBEAT MUSIC]

[WHAT DOES THE ENERGY TRANSITION LOOK LIKE? ASHWAN EGYPT]

[NEW POLICIES HAVE LED TO LESS FOSSIL FUEL RELIANCE]

[TO INCREASED RENEWABLE ENERGY]

[BENBAN SOLAR PARK]

[GENERATES 2,000 MW POWER]

[EMPLOYS 4,000 PEOPLE]

[REMOVES 2 MILLION TONS OF CO2]

[THE SAME AS TAKING 400,000 CARS OFF THE ROAD EACH YEAR]

[THAT'S WHAT THE ENERGY TRANSITION LOOKS LIKE]

To talk to us today about what transforming energy systems actually looks like,

[CAMBRIDGE, USA; LAHORE, PAKISTAN; NEW YORK, USA; COUNTY DURHAM, UK]
I'm joined by Minister Malik Amin Aslam,

special assistant to the prime minister of Pakistan

and federal minister for climate change.

Damilola Ogunbiyi, who is the CEO of Sustainable Energy for All,

as well as the special representative of the UN Secretary General.

And finally Lucy Heintz, who is a partner and energy fund manager for Actis.

Minister Aslam, my first question is for you.

We would love to know what Pakistan is concretely doing

to transition to a cleaner energy mix.

Thank you very much, and thank you for having me on this panel.

[MALIK AMIN ASLAM; MINISTER FOR CLIMATE CHANGE, PAKISTAN]
Well, Pakistan is a country which is not a big contributor to climate change.

Less than 1% of the global emissions

and we're 35th in terms of per capita emissions on the list.

But at the same time we want to be a part of the solution

and not a part of the problem.

So what we have done is that we've drastically shifted our direction

of the energy production since we came into government.

Pakistan had been put on onto a pathway of oil-based development.

And especially based on imported coal.

When our government came in, we drastically made a change

and we announced the long-term target

of shifting 60% of our energy onto clean energy, which is renewable energy,

which includes hydro, solar, and green power by 2030.

And in line with that commitment,

we were just not just talking but we're also walking the talk.

So we shelved two projects worth 4,600 megawatts of imported coal

which were set to go towards financial closure.

We shelved those projects and we shifted and changed them to hydro projects,

3,700 megawatts of hydro projects.

At the same time, you're also moving towards a transition in our transport sector,

which is the other big contributor to greenhouse gas emissions in Pakistan.

And we've set in motion a policy framework as well as a target

to move towards electric vehicles, 30% electric vehicles by 2030.

So with these two arms, we are moving in a transition

towards a clean energy future for Pakistan

which is definitely going to be very important as we go forward.

And it is going to contribute to the global climate mitigation effort

and also take out the greenhouse gases from the atmosphere.

And this as I said, is not just talk.

We have shown commitment on the ground to move towards this.

Now, the only one big problem we have with this whole transition

is that we are already locked into some old projects.

We count for a 30-year gestation period.

It is not possible to unlock out of those projects

without getting proper financial assistance from the global network.

And we're looking for the financial instruments to help us to do that.

As I said, we've put our own commitment on the table.

We have shown results but we do need help financially

to unlock ourselves from long transition coal projects,

which are already there in Pakistan,

which were signed in the previous government.

Thank you.

Thank you for sharing those bold commitments.

Let me go next to Damilola Ogunbiyi, the CEO and special representative

of the UN Secretary General for Sustainable Energy for All.

You've announced 2021 the year of energy action.

Under existing policies, 620 million people will still be without access in 2030.

And we're unfortunately already seeing

that the pandemic is reversing some of the progress made over the past decade.

We'd love to know what are the concrete priority actions

for governments in this year.

Thank you for the question and thank you for having me.

I think it's important to first put this in context.

[DAMILOLA OGUNBIYI; CEO, SUSTAINABLE ENERGY FOR ALL]
Currently there are about 789 million people

that don't have access to electricity at all.

and about 2.8 billion have no access to clean cooking.

So that is the populations of Africa, Europe, and China combined.

So that's how big the problem is.

In terms of governments, yeah, governments should focus on policies

that enable renewable and sustainable energies

and also focus on ease of doing business and regulation.

But one of the key factors is what the minister for Pakistan said.

All of this cannot happen without funding.

And the amount of funding that's going into the energy access

and the universal access conversation

is barely 20% of what is needed year on year to achieve 2030.

And that is why we're calling this the year of energy.

This is the year that we need new commitments,

a kind of global voice of coming together.

We all see that, globally, when we come together,

just the amazing work we could do.

And the COVID vaccine is a perfect example.

We literally have to have a COVID vaccine response

to help a lot of developing countries

because it's not that they don't want to transition

or they don't want to do the right thing.

It's the fact that if you do need to transition

there is a lot of funding that's needed,

and energy access has to be part of the energy transition story.

So for the first time in 40 years, the UN...

This September, the UN General Assembly is having a high-level dialogue on energy,

which Pakistan is actually part of that.

Lucy has also kindly agreed to be part of what we're doing.

And the point is to raise ambition

and become global champions for sustainable energy,

but also put climate and people together.

We have to have a pathway,

that we make sure developing countries do industrialize,

they do digitalize and they do that in the clean way.

And that is what we want to do moving forward.

And that's why this year in particular is so critical.

I love that bold call of action.

And we know that the private sector

will play an increasingly bigger role in climate change and sustainability.

So my next question is for Lucy Heintz.

Lucy, companies and investors operating in emerging markets

face quite specific challenges.

How can these be addressed

so that we can really open opportunities to finance renewable energy growth?

Thank you, and thank you also for having me on this panel.

[LUCY HEINTZ; PARTNER AND ENERGY FUND MANAGER, ACTIS]
Actis has built over 25 projects in Africa over the last 20 years,

and over 80 renewable energy projects globally.

We have invested in distribution companies

and storage companies and we currently have...

We're operating at 1.4 gigawatts of wind and solar across 11 projects in Africa.

As you say, the pandemic has not only highlighted inequalities

in terms of energy access, but also connectivity.

And of course it has severely impacted the fiscal positions

and growth trajectory of governments.

The good news is that the private sector

has the appetite to invest and to contribute.

And actually all the tools for that energy transition investment are available.

And I'd like to just make three suggestions

as to things that are really important.

One of which is a clear transition pathway in terms of technologies

that focuses on the whole value chain and not just wind and solar generation.

A question you might ask is what is the role of gas

as countries transition from coal, as the minister has described,

or no energy to affordable universal energy as quickly as possible?

Another question, while the investment is required in transmission,

in the grid, in storage and distribution

so that that clean energy can reach people, as Damilola has highlighted.

And also what are the thoughtful decarbonization pathways that are Paris aligned

and can create those right enabling frameworks

for investment in the transition economy?

The second point.

Clear regulatory frameworks are really important.

And as Damilola says, a programmatic approach to access.

And the examples that you see in Brazil, South Africa, and India already evidence

that frameworks and procurements at scale can really deliver

and drive investment and lower tariffs and project delivery,

not just for utility scale, but also in many grids as well.

Thank you.

Thank you.

So in your second point, you mentioned about Paris alignment.

So I want to stay with you and ask you to share what role

companies and investors can play in supporting countries

to meet their Paris Agreement commitments ahead of COP26?

And how can they support the global energy transition?

So again, three suggestions here.

I think one important point is that we really focus as investors

on that energy transition pathway and that decarbonization.

Not just in terms of mitigation, but also in terms of adaptation and resilience.

It's important that we're thoughtful about net zero.

Net zero right now is currently a kind of "commit now let's figure it out later"

with a lot of confusion.

And it's really important that we all work together

to create standards and guidance

and also carefully consider the interplay between purism and pragmatism.

And I think coming back to that point,

investing in the value chain is really important

because decarbonization, as the minister described,

is more about than just investing in green.

It's investing in the incremental steps

that each country takes from dark brown to light green to pure green.

And all of those are important stepping stones in the pathway.

And the third point I want to make is about investing in inclusive growth as well,

at the same time addressing the needs

of those left most vulnerable from the pandemic.

And I would like to give you one example, which is our Taibe Wind Farm in Senegal,

which we brought online in 2020 through the pandemic.

And we use the packing cases from the wind turbines,

working with the suppliers and contractors,

and we made those into desks for the local school

so that the kids could actually come to school and socially distance.

And that I think is an example that hopefully you can take home with you

in terms of what inclusive growth can look like.

Thank you.

I love that.

Thank you so much for sharing that element of creativity

that comes into innovation and what we need to do next.

I'd like to come back to the national level.

So Minister Aslam,

given the backdrop of COP26 and greater ambition in this year,

can you tell us what other initiatives Pakistan is taking

to tackle the climate crisis?

Yes, I just talked about the energy transition framework that we have

which is towards climate friendly technologies in the future.

At the same time, the other leg that we are standing on

is based on nature-based solutions.

And we've got two main initiatives on that front.

The first one is a very ambitious campaign

to reforest Pakistan, to increase our forest restoration

by one million hectares in the next five years

We are already well on our way on that campaign,

which includes Alpine forest, scrub forests, as well as mangroves.

We are planting 100,000 acres of new mangrove forest in our coastline.

Along with this massive plantation campaign

we've got what's called the Protected Area Initiative.

So this is an expanding the protected area coverage in Pakistan,

both marine, as well as terrestrial.

Again, they are the signs for governed reconstruction

and what is unique about both these initiatives

is that we are also creating jobs for the people.

They are creating a new economy which creates net jobs for the people.

And they were part of the green stimulus that we pushed forward during the COVID era,

which was based on nature protection as well as creation of green jobs.

So what Lucy said about inclusive growth,

this is exactly the part that we are focusing on

so that people become stakeholders in a clean, climate-friendly future

which is based on clean energy, as well as net zero emissions.

Thank you so much.

And last, I want to go back to Damilola.

Even as we have COP26 on the horizon, we also have the pandemic

continuing to wreak havoc on people and economies.

And it's highlighted the massive inequalities that persist

when it comes to affordable and clean energy access.

So how can the global community support countries

that are most in need to ensure that no one is actually left behind?

I think one of the things that Lucy touched on,

and the minister, is very important.

What does the energy transition actually look like for developing countries?

There's not enough work and data

that has put into what is actually the pathway to getting into Nigeria.

How long do you use these transitionary fields for?

Knowing the developing countries still want to industrialize,

they want to digitalize.

They want to get their people out of extreme poverty.

We have a year here that 150 million people have gone back into extreme poverty.

So energy is that golden thread.

We need to highlight that affordable, sustainable energy

and cleaner energy is key, not just for electrification,

but also for clean cooking, which is left behind.

So for me on the road to COP,

what we should be thinking and what I've heard here

is how do you fund these projects?

How do you make sure in the energy transition plans of these countries

you actually have the policies they need to put in place?

And once they do put those policies in place

you actually look at the unique nature

and the resources that are found in the countries

and utilize that for the energy needs

instead of what we do now and try and wait for the perfect solution.

We know we need to recover better.

We know that if we now invest in cleaner energy,

GDP wise for every dollar invested you get 0.93 cents, so that's just good math.

We know countries want to create more jobs.

We know renewable energy creates 3.5 more jobs than some of the fossil equivalents.

So we need to look at it at the economic standpoint

and we need to look at how do countries recover better?

And I feel don't waste a good pandemic.

Because the pandemic has shown us the inequalities that exist.

It has shown us that even in Africa,

when we're having the COVID vaccine distribution

there's only 25% of healthcare centers that actually have electricity.

So it's not going to go as well in developing countries,

especially in Africa, as in Asia.

So it shows us we need to sort out our core chains.

But this is something that, done at scale, can be commercially viable

and can change the landscape

of how we deliver energy to the developing countries.

And that's what I'm really excited about.

How technology, finance, data, and policies is going to allow us

to actually achieve Sustainable Development Goal seven.

Thank you so much to all of our panelists

for sharing your thoughts on the energy transition.

[NENDAZ, SWITZERLAND]
<i>Bonjour</i>, I'm Sarah Reladi in Nendaz, Switzerland,

and you're watching the World Bank Group IMF Spring Meetings.

A reminder that our experts are answering your questions

in English, Arabic, Spanish, and French right now

[LIVE.WORLDBANK.ORG]
on our live chat at live.worldbank.org.

That's also where you can dive deeper into some of these issues.

We've put together a list of reports, blogs, and briefs,

so you can learn more about the topics we're discussing today.

Just scroll down to the Resources section on the same page.

Now, a massive milestone coming up later this year is COP26.

That's the next annual UN Climate Change Conference

postponed last year because of COVID,

where countries, companies, and civil society

will need to send a strong signal of climate ambition.

We asked some of the key figures leading climate action across the world

to share their thoughts on the major priorities for COP26.

Here's what one of them had to say.

[NORBERT BARTHLE; PARLIAMENTARY STATE SECRETARY, BMZ, GERMANY]
Climate action is vital to survival of humankind.

[MESSAGES FOR COP26]
The world has to become climate neutral by the middle of this century.

This has been Germany's target

as we have been helping our partners for a number of years

to decarbonize their energy sectors in line with the Paris Agreement.

Together, we want to ensure needs-based climate-neutral energy supplies for all.

COVID-19 has made this global task even more urgent.

The consequences of the pandemic are threatening to undo progress already made.

We need a new paradigm: recover forward.

This means economic recovery based on green and social investments

in the spirit of the SDGs and the Paris Agreement.

In order to support the energy transition in our partner countries,

the World Bank has to massively increase its reformed financing.

In response, Germany will be ready

to further intensify its collaboration with the World Bank

under the Green Recovery Initiative and on the ground.

Thank you.

Both decarbonization and adaptation are a major concern for cities.

Home to over four billion people, cities are going to play a decisive role

in how communities and countries tackle climate change.

Transforming urban systems involves a range of actions

from developing better transport systems

to addressing inequalities around access to land, housing, and services.

And to improving resilience.

We asked Yvonne Aki-Sawyerr, the mayor of Freetown, the capital of Sierra Leone,

to share her vision for an inclusive, healthy, resilient, and sustainable city.

[YVONNE AKI-SAWYERR; MAYOR OF FREETOWN, SIERRA LEONE]
Hello, I'm Yvonne Aki-Sawyerr in Freetown, Sierra Leone

and you are watching the World Bank Group IMF Spring Meetings.

The future of cities is being shaped by climate change.

We are having to adopt, we're having to adapt, and we're having to mitigate.

From the perspective of adaptation,

urban planning now needs to ensure that we're protecting the most vulnerable.

Those who are at risk of floods and other direct effects of climate change.

From the perspective of mitigation,

cities can act in terms of building green infrastructure,

investing in the planting of trees to increase the carbon sink.

But we can also ensure that we're cutting greenhouse gas emissions

by introducing clean transport solutions like the cable car.

What cities do individually and in unison to address climate change

can set the agenda

to address climate change for communities and for governments everywhere.

The World Bank Group is working with Freetown and other cities all around the world

to help build a more sustainable future.

Let's take a look at some of their work.

[UPBEAT MUSIC]

[WHAT DO SUSTAINABLE CITIES LOOK LIKE? QUITO, ECUADOR]

[QUITO IS BUILDING ITS FIRST METRO]

[POWERED BY ELECTRICITY]

[IT WILL COVER 22 KILOMETERS IN 34 MINUTES]

[CARRYING 400,000 PEOPLE EACH DAY]

[CONNECTING THEM TO JOBS, EDUCATION, HEALTHCARE]

[AND REDUCING POLLUTION]

[BECOMING THE CITY'S BACKBONE]

[THAT'S WHAT SUSTAINABLE CITIES LOOK LIKE]

To share their thinking on how to transform cities and transportation,

[CAMBRIDGE, USA; SAN JOSÉ, COSTA RICA; CAIRO, EGYPT; SEATTLE, WASHINGTON]
I'm joined by Claudia Dobles Camargo, First Lady of the Republic of Costa Rica,

Dr. Yasmine Fouad, Minister of Environment for Egypt,

and Bryan Arbogast, director of Water, Sanitation, and Hygiene

at the Bill and Melinda Gates Foundation.

Thank you so much, everyone, for being with us.

Minister Fouad, can you share with us

how Egypt is mainstreaming climate considerations

in key sectors that are driving the country's economy?

Thank you very much.

It's a pleasure to be with you here on this panel

with His Excellency, the Minister, and Her Excellency, the First Lady of Costa Rica.

[DR. YASMINE FOUAD; MINISTER OF ENVIRONMENT, EGYPT]
Egypt has gone through a very lengthy process to mainstream the climate change

together with tackling air pollution.

First of all, the air pollution and the genomic impact of air pollution

and the cost and how it affects the GDP was our main argument

including getting all relevant stakeholders around the table.

Mainly the development sectors that are responsible for those emissions.

Some interventions that did make a difference in Egypt, such as the Metro Line,

such as the reduction of the fuel subsidy that took place in 2017.

And all that has contributed in a way or another for the air pollution.

For climate change, we went through a very lengthy process

starting with the institutional setup

of convening the National Council for Climate Change,

headed by, first the Ministry of Environment, and then after Paris work program,

it was headed mainly by the prime minister, including all our measures.

We went into a pilot testing of linking between science and policy

by developing our own adaptation vulnerability mapping,

where all our huge paradigm shift and transformation mega projects

would be included on that map and give a forecasting on how those places,

especially the new urban cities,

will be affected by the impact of climate change.

Thirdly, we work hand in hand with other government entities

to promote successful pilot projects

such as renewable energy projects in the city.

And Benban is one of them.

We have another project on the biogas

and the impact of the open burning of the waste, especially in the rural areas.

Sustainable transport and moving into the natural gas and electric vehicles.

So we had so many examples to put

from those small, medium, and large size ahead of the people.

Finally, we started working with the youth at the level of the universities

for more projects that would work on climate change.

Mainly we are mainstreaming climate change in trust,

starting with ministers and finally the finance and the planning.

Those two ministers were most important because the Ministry of Planning,

we have announced our first environmental sustainability criteria

where 50% of our projects in the next three years would be green projects,

taking climate impact into consideration.

Secondly, the Ministry of Finance

announcing the first governmental green bonds in Africa and the Middle East

focusing on climate mitigation projects,

mainly the sanitation and the transport sector.

Thank you very much.

Thank you for sharing the holistic approach you are taking.

And to Madam First Lady,

staying on the topic of a whole of economy approach,

Costa Rica plans to decarbonize its economy by 2050.

How do transport and mobility factor into this plan

and respond to the need to build back better after the pandemic?

Yeah, thank you for the invitation.

And it's an honor to be here with my co-panelists.

[CLAUDIA DOBLES CAMARGO; FIRST LADY, REPUBLIC OF COSTA RICA]
When Costa Rica launched the national de-carbonization plan on February 2019,

actually not only our climate action map

but it's more of a social economical comprehensive development route.

We tackle our, we kind of say our Costa Rican DNA

in terms that we as Costa Ricans are very sensitive towards nature,

already based on our history, but it's a very ambitious...

socio-economical development plan towards 2050

to have net zero emissions in Costa Rica.

Costa Rica, just to give you an example, to focus on transportation.

Costa Rica has, I think it's a treasure for us,

which is that we based our electricity matrix

in an almost 100% renewable mode.

So our electricity is already clean.

But nonetheless, and ironically, on the other hand,

when we go to our energy matrix,

we still based our energy matrix mostly on fossil fuels.

And when we start looking into it,

you realize that it's mostly because of the transport sector.

You have somehow agricultural there, but mostly because our transport sector.

So we would say, "Okay, we really need to invest on this."

And we wanted to focus on three main areas.

The first one was how to create integrated system of transportation

that could improve the quality of life of most Costa Ricans

that still rely on public transportation for their mobility.

Second, how can we incorporate

and how can we really also work on a multilevel with local governments

to create non-motorized infrastructure to mobility?

So cycling, walking, which is kind of basic,

but we haven't focused on that for several decades.

And how to incorporate this infrastructure,

which is more democratic, which is cheaper,

to the motorized infrastructure to create an intermodal system?

And the third main focus that we are working in terms of transport and mobility

was obviously how to shift our fossil fuel fleet to mostly electric,

but basically a clean fleet based on renewables.

So those were the main areas where we concentrated our efforts.

And so far, I have to say

that even though we have the sanitary crisis in the middle,

we have done huge advances.

And I think it has been very, very well received in our society.

I think, again, Costa Ricans already have a special sensitivity towards nature

and to tackle also the urban agenda with this was the next step.

Thank you so much for sharing those stories with us

and the stories of success that you're finding in Costa Rica.

So let me shift the focus a bit more

to adaptation and resilience in cities and transport.

Brian, can you tell us a bit more about the role of water and sanitation

in making cities more climate resilient and making them more sustainable?

Thank you, Salina.

You know, I think most people, when they think about climate change,

they pretty quickly think about water,

[BRIAN ARBOGAST; DIRECTOR OF WATER, SANITATION, AND HYGIENE]
and that's because the climate shocks that are really visible

[BILL AND MELINDA GATES FOUNDATION]
include droughts and floods and big storms, super storms.

But unfortunately people are a lot less likely to think about sanitation.

I think that's too bad because investments in resilient sanitation systems,

can provide both a really high economic ROI, but also social ROI.

For example, in communities that are expecting to face increasing water shortages,

the idea of building traditional network systems

of large board sewers and sewage treatment plants

and thus committing huge amounts of electricity and water,

for the foreseeable future, to keep them operating.

I worry that 10 years down the road that might not feel like a great investment.

Now, luckily our partners, including of course the World Bank,

are proving that non-sewered approaches to sanitation can be just as successful

at delivering really high levels of service quality to households.

And we're focused on defining what it takes

to deliver what we call citywide inclusive sanitation.

And they're kind of... What inclusive, really focuses on

is making sure that even the poorest communities in a city

are reached with high quality services.

So of course some cities are going to be facing too much water,

other cities are going to be facing not enough water.

And if you have too much water that can be problematic also for sewer systems.

Treatment plants tend to be located right next to oceans and rivers.

And all the pumping stations are also located kind of at the low points in a city.

So that infrastructure is particularly vulnerable to flooding.

And whether the flooding comes from rising sea levels

or more storm surges or higher rainfall or some combination of all three of those.

And the flooding is a problem for sanitation across the board.

It's also problematic for traditional pit latrines and septic systems.

When they flood out, the pathogens that are within them

can contaminate the entire community.

And that's what leads to a lot of disease outbreaks like cholera.

So we really need innovations and new solutions

that can be more resilient even in the face of flooding.

So as we think about building back better after the pandemic,

I'm hopeful that decision-makers and city planners

will really see the benefits of investing

in these kinds of resilient, distributed solutions.

Thank you so much.

And just staying on this topic of adaptation, let me ask Minister Fouad,

can you tell us more about the Adaptation Action Coalition?

Both the role that Egypt intends to play in it,

as well as the role that you see the coalition playing in Africa

to promote adaptation measures.

Thank you very much for that question.

In fact, we started that process of Adaptation Coalition two years ago.

The idea is that as long as we want to raise ambition

and put more targets into materialization for mitigation

we'd love to see the same for adaptation and resilience,

especially related to the means of implementation

and adverse impact of climate change on very vulnerable communities

that will be affected the most by the climate impact.

In that regard, UK and Egypt has launched the Adaptation and Resilience Coalition

and we were really happy to see

more than 120 countries, organizations and MDBs joining that coalition,

meaning more political momentum going through that process.

Now we are convening our steering committee

with different partners who have shown interest in joining that coalition

to put more meat and bones into that process.

The idea of that coalition is to accelerate the action

towards more adaptive society, towards more resilient community.

It is imperative also to mention that Egypt, through its leading

of the Committee of the African Heads of State for Climate Change...

That was five years ago when our president was leading

the Committee for the African Heads of State,

has launched the Africa Adaptation Initiatives.

We see that as a unique opportunity

of something that has been designed and shows the ownership of the African countries

where Africa was speaking with one voice.

More momentum and more work needs to be done

to materialize the Africa Adaptation Initiative instead of reinventing the wheel.

I believe that what is needed right now most

is having a global target for adaptation,

working on more policy reforms and investment packages

to show the added value of adaptation, especially for the private sector

because that's not clear as much as it's clear for mitigation.

And thirdly, raising more awareness

on what kind of local community adaptive approaches can be done.

And the key word for that is to look at the ecosystem-based approach

because that does not only target climate change,

but linking also to the very heart of the sustainability,

which is the biodiversity and the land.

Thank you very much.

Thank you so much to all of the panelists.

I've really appreciated getting to better understand the massive potential

of this second transformation with you.

Thank you.

[KINGSTON, JAMAICA]
<i>Wah gwaan!</i> I'm Charmine Wright from Kingston, Jamaica

and you're watching the World Bank Group IMF Spring Meetings.

If you've just joined us, welcome.

I'm Salina Abraham, and we're discussing three transformations

that can improve the health of people and planet.

A reminder that you can join the conversation at any point

[#GREENRECOVERYWBG]
using the hashtag, "GreenRecoveryWBG."

And we're also inviting you to take part in a special poll.

Here it is again.

By 2050, do you think green resilience and inclusive development

will be A, achieved, B, underway but not complete or C, still a distant goal?

[LIVE.WORLDBANK.ORG]
Please vote at World Bank Live and join Sri Sridhar

for the results of that poll right after the event.

She'll also be putting some of your questions to Mari Pangestu,

Managing Director of Developmental Policy and Partnerships at the World Bank,

and to the IFC's Senior Vice President of Operations, Stephanie Von Friedeburg.

So please keep them coming using the live chat.

Our expert bloggers will also be answering those questions

throughout the event and afterwards.

Improving agriculture and food systems could generate better incomes

and help lift many out of poverty.

But farming practices today are unsustainable,

contributing to high emissions and the loss of our forests,

soil, water, and biodiversity.

Agriculture is also deeply vulnerable to climate change.

Rising temperatures or changing weather patterns

are going to have huge impacts on food security.

We asked Kitty Van Der Heijden, Director-General for International Cooperation

at the Ministry of Foreign Affairs from the Netherlands,

how we can transform food and land use systems.

Ladies and gentlemen, we're not on track

[KITTY VAN DER HEIJDEN; DIRECTOR-GENERAL, INTERNATIONAL COOPERATION]
to reach either the SDGs or the Paris Climate Goals.

[MINISTRY OF FOREIGN AFFAIRS, NETHERLANDS]
The world is facing cascading crises

which now include COVID and a multitude of conflicts.

So we're going to have to press hard the coming years

for systemic changes in energy, in water management,

land use, and agriculture.

And there's an opportunity in 2021 with a range of global summits.

And then if we zoom in on food systems,

let's recognize that access to sufficient, healthy, and nutritious food

is a right for everyone, regardless of where you live

and regardless of your income level.

And we've made tremendous progress in the past 50 years.

But unfortunately that's not the whole story.

Agriculture also contributes to severe loss of biodiversity and soil health

and is a major contributor to greenhouse gas emissions.

We still have almost 700 million people that go to bed hungry,

and yet at the same time, we face an unprecedented crisis of obesity

and obviously climate change and COVID are worsening these trends.

And yet we have only nine years to reach those SDGs.

Nine years to achieve systemic change to make sure that food and food production

become not a part of the problem, but of the solution.

And in those years, we're going to have to invest more

in green, resilient, and inclusive food systems with much better health outcomes.

That means that we need an integrated approach

bringing together agriculture, food, nature, and climate action.

And for that, we need the involvement of all stakeholders

obviously, including the private sector.

Now I expect the World Bank and IFC to lead on that challenge,

to join it and to take leadership with their knowledge,

their financing, and their convening power.

I invite the bank to use those assets to form international partnerships

aimed at more systemic change.

Because if they don't do it, who will?

And if we don't do it now, then when?

Thank you.

Transforming agriculture can tackle both mitigation and adaptation.

Let's take a look at how Climate Smart Farming can improve livelihoods.

[UPBEAT MUSIC]

[WHAT IS THE FUTURE OF FOOD SYSTEMS? UGANDA]

[IN UGANDA, CLIMATE MODELING SHOWED WHERE COFFEE CAN GROW BEST]

[ADDING SHADE CAN CHANGE THE MICRO CLIMATE]

[LOWERING TEMPERATURES 2-5 DEGREES CELCIUS]

[LEADING TO HIGHER CROP QUALITY, FARMER INCOMES]

[BREWING PROSPERITY]

[THAT'S THE FUTURE OF FOOD SYSTEMS]

Now to discuss the future of food systems,

I'm delighted to welcome the third and final panel of our event today.

[CAMBRIDGE, USA; NAIROBI, KENYA, DUSHANBE, TAJIKISTAN; OSLO, NORWAY]
Dr. Agnes Kalibata is the UN Special Envoy for the 2021 Food System Summit.

Sulton Rakhimzoda is the Chairman of the Executive Committee

of the International Fund for Saving the Aral Sea.

And Dr. Gunhild Stordalen is the founder of EAT,

which focuses on the link between climate, health, and sustainability issues.

Thank you everyone.

Ms. Kalibata, as the daughter of a farmer

and the former Minister of Agriculture in your country, Rwanda,

you've seen firsthand the experience of small holder farmers.

What are their main concerns today?

Thank you for that question and thank you for having me.

[AGNES KALIBATA; UN SPECIAL ENVOY, 2021 FOOD SYSTEMS SUMMIT]
Small holder farmers are businesses.

They are doing this because they want livelihoods

like everyone of us that is working in some business or the other.

So sometimes we forget that they want to send their kids to school,

they want to earn money,

and they want to have some form of insurance for their families as well.

So the key things that concern them

are things that interfere with their ability to earn a living from farming.

Number one, and very critical for the part of the world that I live in,

climate change.

You see, Africa was beginning to recover from whatever it had been going through

with regards to failures at the farm level,

with regards to failures of the agricultural sector.

We're beginning to see huge recoveries.

Today, with climate change, farmers don't know when it will rain.

When it does rain, they don't know how long it will stay.

Or it'll wash away everything they have.

I remember one situation when I was dealing with an insurance company

and they told me, "Well, these farmers can't be repaid

because they didn't do what they're supposed to do."

And I said, "What were they supposed to do?"

"They were supposed to plant because it rained again after."

So I said, "After how many failures?"

"Three." So after three failures, do farmers have seeds?

So climate change is the number one threat that farmers have and the problem.

Next, when... without climate change,

or in the absence of climate change when things are going well,

markets is something that must be in place.

You see farmers are not looking for any other form of support.

Like I said they're businesses.

They want to be able to produce and sell their produce.

They want to be able to have a fair environment where they can participate.

But again, in many of these small holder landscapes,

markets. and many other things they need to be able to have functional markets,

to participate in markets equitably, are not working.

You see, the things that impact small holder farmers

are not solvable at the farm level.

They are solvable in the landscape above the farm.

That's why we invest in the ease of doing business so that businesses can survive.

And you would know that as the World Bank, you do that a lot.

That's why we invest in strengthening capacities of governments,

so that they can be able to deliver on the systems

and the ecosystem that supports farmers.

So the things that concern farmers is the ability to access services

that will make their businesses grow.

Just like you and I.

We'll live off services for everything we do to grow.

So farmers want that business environment to work as well.

Those are the three things that are important

to make them viable businesses that they should be.

Thank you.

Thank you so much.

Thanks for putting those top concerns in the front of our minds.

And I hope we come back to this as we go through this conversation.

And now I want to go to Mr. Sulton Rakhimzoda.

Mr. Rakhimzoda, Central Asia as a sub region has suffered huge climate consequences

as a result of challenging environmental problems in the Aral Sea Basin.

What do you see as the biggest climate challenges

confronting Central Asian countries right now?

And how are organizations like yours helping these countries

adequately balance future food and water security

with growing energy demands and environmental objectives?

Thank you, thank you for your introduction and question.

Central Asia is very prone to impacts of the climate change.

The temperature in the region

[SULTON RAKHIMZODA; CHAIRMAN, EXECUTIVE COMMITTEE OF THE INTERNATIONAL FUND FOR SAVING THE ARAL SEA]
has risen for 0.5 degrees Celsius during the last 50 years.

We are observing more often droughts, floods, and other water related disasters,

which cause a lot of burden to the countries of the region

and hampered their efforts to achieve sustainable development.

But the biggest challenge is water security.

In 1960s the water availability per capita in the region

was 84,000 cubic meter per capita.

Nowadays it equals to around 2,000.

With the current trends it will reach only 1,000 cubic meter per capita in 2040,

making the region water scarce

and potentially affecting the water-food-energy balance in the region.

What is needed to address this challenge?

More efficient monitoring, management, and use of water resources.

How to achieve it?

Through coordinated and collaborative efforts

and better cooperation as well as increasing of financing and investment

for capacity building and water infrastructure

including multipurpose storage capacity

to address the challenges of energy production in wintertime

and irrigation delivery in summer, which became more evident now.

The IFSAS is providing a political and technical platform

for all Central Asia countries to discuss these issues and find a way

to move forward cooperatively.

In line with this, IFSAS is also working on attraction of funds and investments

to support the countries of the region to address this challenge.

For example, through the World Bank projects,

we are improving the water monitoring system

and modernizing the hydromet systems in the Central Asia region

and strengthening the dialogue between the countries and sectors

involving also the parliamentarians in this process.

And we are very thankful for the World Bank for this kind of support.

Thank you.

And I want to add, food systems not only intersect

with water, energy, and environmental demands

but they also intersect with health and nutrition.

Dr. Stordalen, you are both a medical doctor and a sustainability advocate.

And you've spoken a lot about how the health of people

and how the health of our planet are linked.

Could you tell us how you see the intersections between these two areas

and what we can do to reconcile nutrition and sustainability?

Thank you, and it's great to be here.

[GUNHILD STORDALEN; FOUNDER, EAT]
So on a finite planet with almost 8 billion people

which will grow to 10 billion by mid-century,

we now know for a fact that there cannot be healthier people

unless we have a healthy planet.

And food is really the intersection between the two.

More so than any other topic, I would say.

First food production and consumption

are now the single biggest driver of global and environmental destruction.

And on the other hand, diets are now killing almost 11 million people every year

which is more than alcohol, tobacco, drugs, and unsafe sex combined.

So the only way to really reconcile nutrition and sustainability

is to transform our food systems.

Meaning what we produce, how we produce it,

stop wasting and shifting to healthy and much more plant-rich diets.

Thank you for painting the picture of that future food system.

One of choice and one of justice.

So Mr. Rakhimzoda, could you tell us what your vision is

for promoting more efficient and climate resilient use of land and water resources

in the Central Asian region,

so that it can enhance both agricultural productivity

and ecological sustainability together?

Thank you for this question.

Agriculture is very important for our region, for Central Asia.

Not only because of economic aspects, but also because of its social value.

Providing around 25% of the regional GDP and contributing to food security.

It also employs around 60% of rural population.

And it is expected that the climate stressors

will further increase agricultural and environmental losses

if coordinated actions are not taken.

Improving water resources management at the national and regional levels

is key to address this challenge.

The first reform,

and this is improving the legal basis and institutional arrangements

in order to increase the effectiveness and the efficiency in delivering its mandate

as well as to explore expansion of diverse mandate

to more comprehensively tackle the interlinked regional water,

food, energy, environment nexus and climate resilience issues.

More efficient and the climate resilient use of land and water resources

for enhancing agricultural productivity,

environmental sustainability, and energy production

will be definitely at the core during the reform.

And the first reform, as any other reforms, is a long and complicated process

and it will require a lot of resources.

Time resources, financial resources, technical resources,

and even human resources.

We hope that by coordinated efforts of the governments of Central Asia region

and by the support of our international partners,

we will be able to implement this reform successfully.

Thank you.

Thank you so much.

And finally, I want to talk about this aspect of justice

that Ms. Kalibata had mentioned.

So Dr. Stordalen, how can we make sustainable and nutritious diets

more affordable and accessible to low-income consumers across the globe?

Thank you.

I mean, this is really the question

and one of the greatest challenges that we face,

but one thing that I want to state as strongly as I can up front is this.

There is nothing inherent in healthy food

that makes it more expensive than unhealthy food.

I mean, let's say a couple of fresh carrots versus a bunch of fries.

And we need to remember that the price at the consumer end

is a reflection of today's political economy of food,

including the policies that are currently in place,

including the subsidies to certain commodities, but not for others.

The lack of appropriate regulation of marketing,

the practices by major players along the food value chain, etc. etc.

And Agnes has already mentioned that massive hidden costs of the food system

and we need to start internalizing these costs

and true cost accounting is something that we all need to start talking about.

And we need to also realize that the risks that are related to investment share,

for example, factory farming,

is as bad as coal-fired power plants for the planets.

And I would say it as risky for investors.

And another very important factor is that up until now,

food has pretty much been owned by ministries of agriculture

while the ministries of health, for example,

they have been grappling and dealing with ill health

but they haven't really been addressing its main cause, which is food.

And ministers of environment have, I would say,

been mostly missing in action when it comes to these issues.

And so have ministries of finance,

despite the enormous economic and fiscal gains that can be made

if we get the policies and incentives right on food.

But there is good news here because all of this can be changed.

We now have the science to show that we can make healthy

and sustainably produced food both affordable and accessible.

And we can do that for everybody on the planet

because policies can change and with policies,

so will the markets as we know it today.

And because we are now finally starting to see

much, much more attention to food across the different sectors

in many countries around the world.

And for me, I would say that the UN Food Systems Summit that Agnes is leading,

that summit later this year is a massive opportunity for all of us

to help generate and help lift up real, game-changing solutions

that can be transformative if they are implemented.

And also to build the hard commitments to action around them.

And of course the coalitions that we will need.

Coalitions of multi-stakeholders that can turn these solutions into reality.

And this is where I guess all of you in this virtual room comes in

and I tell you, and I'm sure that Agnes agrees on this,

that we need you all, so please join us.

And one final point, if you'll allow me.

I think we now have to just get it hardwired into our hearts and into our minds

that planet and health destroying food really is a no-go in 2021.

It's totally unacceptable.

People have a right to food and people have a right to be protected from harm.

And we need to now put the two together and post a powerful maxim for a safe future

for all of humanity on planet earth,

which is the human right to a healthy and sustainable diet.

Thank you.

Thank you so much for providing the inspiration, the guidance,

and the hope that this transition is possible and within our reach.

So thank you to our panelists for contributing to this session.

Let's return again to that UN Climate Conference at the end of this year, COP26.

We're going to hear now from two more climate champions about their priorities.

Climate finance is critical for success this year

[DOMINIQUE SOURIS; CO-FOUNDER & EXECUTIVE DIRECTOR, YOUTH CLIMATE LAB, OTTAWA, CANADA]
because we're not on track to build back better and reach our climate goals.

Consider that last year, $14.6 trillion was announced in spending

by the world's largest economies, but only 2.5% went to green activities.

That is inadequate, but it's also leaving young people behind,

especially from communities already made vulnerable.

Young people are facing unprecedented levels

of unemployment and worsening climate impacts

And climate finance can course correct.

Now is the time to invest in young people

because well-placed investments in their solutions,

in education and skills building, and green job creation

can transform communities and rebuild economies

to a more just and net zero future.

Adaptation is critical for success this year,

[JOYCE NAJM MENDEZ; GRADUATE STUDENT, SUSTAINABILITY AND ADAPTATION PLANNING]
because as we have seen with the current pandemic,

[FOZ DO IGAÇU, BRAZIL]
human and wildlife interaction needs to change as well as forest protection

in order to achieve a real transformative recovery.

At same time we have seen we are reaching several planetary boundaries.

So climate change is our reality

and climate adaptation offers an opportunity

to strengthen collective intelligence at the local level

from the global perspective to the local reality.

As we have done in the border of Brazil, Paraguay, and Argentina.

a nature-led resilience project.

We have created the Municipal Forest Law or the Atlantic Forest Law

in order to integrate our region to the national level,

allowing national and international investments and funds

for biodiversity protection.

We see these have created a more resilient society.

[RABAT, MOROCCO]
I am Said Hakimi, in Rabat, Morocco,

and you're watching the World Bank Group IMF Spring Meetings.

And we're staying with COP26 for our final conversation

with the president of this year's conference.

Before we hear from him,

a reminder that you can still share your thoughts on this event

[#GREENRECOVERYWBG]
using the hashtag "GreenRecoveryWBG."

Our experts are also answering your questions in the chat

[LIVE.WORLDBANK.ORG]
right now at live.worldbank.org.

While you're there, you can also vote for your favorite question.

We'll be putting some of the most popular

to Mari Pangestu, the World Bank's Managing Director of Policy and Partnerships

and Stephanie von Friedeburg, IFC's Senior Vice President of Operations

right here after this event.

So this year's UN Climate Conference

is expected to take place in Glasgow, Scotland in November 2021.

We asked COP26 president, Alok Sharma,

what would constitute a successful conference.

[ALOK SHARMA; PRESIDENT FOR COP 26, UK]
Ministers, governors, friends, it is a pleasure to join you today,

and thank you to President Malpass for his kind invitation.

For around 75 years,

the World Bank has been supporting countries around the world

to recover from crisis, to end extreme poverty,

to increase shared prosperity and develop sustainably.

Today, it is absolutely clear that tackling the climate crisis

is essential to achieving these goals.

Oceans are warming, storms are intensifying

and yet we are a long way off meeting the goals of the Paris Agreement.

And unless we act now, the human, economic, and environmental cost

will dwarf anything that humanity has seen before.

We know the green economies present enormous opportunities

for growth and development.

Whether that's through cheap clean energy,

infrastructure resilience, or indeed job creation.

And analysis demonstrates that renewables can create more jobs than fossil fuels.

So we must act now to take these opportunities on

and get the world on track to make the Paris Agreement a reality.

Creating world that is clean and resilient,

a world that is sustainable and prosperous.

That is my aim as COP26 president.

Action in the three areas you discussed today

and on nature more broadly is essential,

which is why a key goal of the UK's COP26 presidency

is building up international collaboration

particularly around clean power, clean transport, and nature

and getting finance flowing to the climate action is another.

Particularly to developing countries.

And that is why in March, I brought together ministers and institutions

together, including, of course, the World Bank, to look for solutions on finance.

And as a leader within the international community,

the bank's role is absolutely vital.

And I welcome its commitment to direct every third of his lending to climate action.

And I applaud its decision to spend half its climate finance on adaptation.

But in this critical year,

the year of COP26 and a new climate change action plan,

I urge the World Bank to go further.

Step up support to countries to transition away from fossil fuels

and create a clear plan to phase out the bank's support to them.

And with other MDBs, sign a joint statement on nature at COP26.

All governments need to develop ambitious adaptation plans

and emissions reductions targets then matching determined contributions,

and to place them at the heart of national investment strategies.

And MDBs need to support them.

Finally, I urge countries to plan for green resilient recoveries,

and again for the bank to support them.

That is absolutely vital.

Institutions across the world, both public and private,

look to the World Bank for leadership.

And the decisions we take today

as we repair the terrible economic damage inflicted by COVID-19,

will decide the shape of the world's economies for decades to come.

So we must act now

and seize the opportunities presented by green recoveries.

We would reduce poverty, increase prosperity,

and promote sustainable development,

preserving our precious planet for future generations.

Thank you.

A big thank you to Alok Sharma for that look ahead.

And if you want to learn more about the World Bank Group's work on climate

in the run-up to COP26,

we have gathered together some key reports and briefs,

which you'll find in the resources section on World Bank Live site.

To bring us to a close today, I'm delighted to share a special performance

by the young author, social entrepreneur, and poet, Ahmed Badr.

He is also one of the UN's young leaders for the sustainable development goals,

and my dear friend.

We commissioned Ahmed to write a poem that captures what we discussed today.

That would help bring these transitions to life.

Here's what Ahmed had to say.

[SOOTHING MUSIC]

<i>Transformation, a thorough or dramatic change.</i>

<i>Transition, the process of moving from one state to another.</i>

Young poet addresses the climate crisis.

Climate crisis doesn't address him back.

Young poet knows the numbers aren't in our favor.

Young poet knows that numbers are the most difficult translations.

<i>To translate, to know a beginning and an end,</i>

<i>and to articulate the space in between.</i>

Young poet attempts to translate the climate crisis,

climate crisis refuses to be translated, and so it goes.

<i>Young poet redefines translation.</i>

<i>to bear witness to a beginning</i>

<i>and to take action to control the end.</i>

Young poet addresses the climate crisis.

Climate crisis looks back.

Young poet begins.

We know the numbers, but we must know the stories.

We know the terms, but we must acknowledge the weight of their consequences.

Energy, transport, cities, and food systems.

Green, sustainable, inclusive.

But what does this really mean?

What weight does this hold and who gets to carry it?

Who leads and who follows?

Who defines the beginning and who defines the end?

The answers are not behind the numbers...

but in front of them.

To look a farmer in the eye and not see a victim, but a strong partner.

To ask, what does a city look like when it's designed for all of its inhabitants,

not just the most powerful?

To demand a world of collaborators

away from the trappings of the helpers and the helped,

the center and the margin.

Young poets or otherwise.

The definitions mark the way forward.

Transformation, a thorough or dramatic change.

Transition, the process of changing from one state to another.

Translation, the process of thorough or dramatic change from one world to another.

[MUSIC FADES]

[TRANSLATIONS BY AHMED BADR]

[WITH INSPIRATION AND CONTRIBUTIONS FROM LOUIS MABULO, SEBLE SAMUEL, & AXELL SUTTON]

A huge thank you to Ahmed for leaving us on such a high note.

If you want to see that amazing performance again

or listen back to any of today's discussions,

[LIVE.WORLDBANK.ORG]
you can watch it all back on World Bank Live.

Thank you for watching.

We hope that you've learned something new

and feel inspired to join the conversation.

You can share your comments on this

and all the other events at these Spring Meetings

[#RESILIENTRECOVERY]
using the hashtag, "ResilientRecovery."

Now we still have more to come, including the results of that poll.

So now it's time to hand over to Sri Sridhar

who is live at the World Bank Group's headquarters in Washington, DC.

[UPBEAT MUSIC]

[LIVE: WASHINGTON, DC]
Welcome back to Washington, DC.

We are live from the World Bank Group headquarters.

I'm Srimathi Sridhar,

[SRIMATHI SRIDHAR; WORLD BANK GROUP]
and the next hour will see us reveal the results of today's poll,

hear from youth in Nigeria and Indonesia,

and hear from our country leaders in Argentina and Turkey

about the work that those countries are doing to address their climate challenges.

But first I'm delighted to be joined by Mari Pangestu,

[LIVE: WORLD BANK, IFC LEADERS ON GREEN RECOVERY]
the World Bank's Managing Director for Developmental Policy and Partnerships

and Stephanie von Friedeburg,

the International Finance Corporation Senior Vice President of Operations.

Mari, Stephanie, it's lovely to have you here today.

It's Great to be here, Sri.

The last couple of days, we've been looking at the role that economic recovery

and debt have been playing to help countries recover from the pandemic.

Today, the focus is on climate.

So let's get started with our first question.

This came to us on video from Daniela

in her home in Colombia and Mari, it's for you.

So let's take a look.

[DANIELA HURTADO, COLOMBIA] 
The World Group president made a big announcement last week related to climate.

Can you tell us more about it,

and how the bank will help countries to take action on climate?

So Daniela there talking about the new climate change action plan

that World Bank Group president, David Malpass, announced last week.

So Mari, tell us more about this plan

and how will it help countries take action on climate?

Yes, thanks for that question.

Let me give just a short context

for why we are launching our new climate change action plan.

[MARI PANGESTU; MANAGING DIRECTOR OF DEVELOPMENTAL POLICY AND PARTNERSHIPS, WBG]
The context is really that the world is facing a dual crisis.

The COVID and the climate change crisis.

So it's an opportunity actually to address both in an integrated way.

Climate and development.

And as we heard this morning from John Kerry, there's an urgency to act.

And that's the context that we have now.

A new climate action plan for the next five years.

And David has given some clue, some preview to it.

Let me share four highlights from our new climate action plan.

First, you must start with countries

because to get to Paris Agreement, you must have countries act

and have their NDCs be aligned to the Paris Agreement.

So we are ramping up our work to help countries with their climate diagnostics

[LIVE DISCUSSION: KEY GREEN TRANSITIONS]
and aligning it with their NDCs

and their long-term, low-carbon development strategies.

That will lead to better outcomes or better alignment with Paris.

And in five key systems.

I know that we've had discussions also on the systems,

which is related to energy, agriculture, and land use,

transportation, urban, as well as manufacturing

because they contribute 90% of the greenhouse gas emissions.

And within that, we are focusing on a just transition out of coal.

Second, we as an institution are also fully committed to being Paris aligned.

So the World Bank is committed to be fully Paris aligned by 1st of July, 2023,

and MIGA and IFC will be by 1st of July, 2025.

Third, to achieve all that, we must increase our ambition in climate finance.

So we have increased the average of the last five years.

It was 26% for climate financing.

[LIVE DISCUSSION: ENABLING A SUSTAINABLE RECOVERY]
We are now increasing to 35% of our financing will be for climate.

And not just for climate co-benefits,

but also we must focus on impact and outcomes.

And finally, whatever we have the higher ambition, it's not going to be enough

to reach the scale and urgency that's needed.

So we are going to use our convening power as well as our catalytic role

to mobilize finance from the financial sector

as well as other sources, especially the private sector.

Well, it's an exciting time to be a part of the climate conversation,

but Stephanie let me now turn it over to you, to get the private sector perspective.

So what have been some of the promising signs of action from their end?

How is IFC working with its partners to help drive this plan forward?

Sri, I would actually start by saying

I truly believe we don't get out of this crisis without the private sector.

[STEPHANIE VON FRIEDEBURG; SENIOR VP, OPERATIONS, IFC]
We need the private sector engaged.

And if we really want to build back better, make a more equitable greener world,

we need the private sector because we need their capital.

We need their ability to bring best-in-class solutions and we need their innovation.

There's just not enough fiscal space left in our countries of operation

to create the jobs and economic growth that's required,

especially to help the poorest

and the people that have been disproportionately harmed.

So as Mari just said,

IFC together with the bank made a big commitment

as part of our climate action plan.

And we will be increasing our climate investments to 35% of our investment program

over the course of the climate action plan, on average.

And we're going to try to make all of our investments Paris aligned.

And why did we do this?

We did it because we really believe

that we need to spearhead the private sector's engagement in areas like urbanization,

where more than a billion people live in informal settlements,

in food production and distribution, where 9% of the population goes hungry,

and in energy, where there's still 800 million people

that don't have access to electricity.

But one of the things that we know from IFC is that we can't do it alone.

We have to partner.

And for those people who know me well

know that I think partnering with technology companies

is going to be one of the ways that we do this.

So in 2020, in the midst of the crisis,

there was $17 billion invested in climate technology projects.

And it's no longer just renewable energy.

It's battery storage, it's material sciences.

Think low carbon cement.

It's e-mobility, it's green hydrogen,

and it's all really being driven by three key factors, I think.

The first one being government's commitments to be carbon neutral.

But following, the 1,500 largest corporations in the world

who have said, "we want to be carbon neutral, too."

And finally, I think there's a growing consensus in the global community

that we need to build back more resiliently.

So how does all that come together for IFC?

I want to give you an example.

So we know in the world that 30% of the food that's produced

goes from farm to consumer, is lost.

And as much as 45% of produce.

That's 8% of the GHG emissions globally.

And to feed the world, we use 30% of the world's energy generation

and 70% of the fresh water.

So how do we tackle this problem?

We invested last year with a company called Appeal.

It's a tech company out of Silicon Valley.

They've developed a vegetable coating, all natural,

that you put on fruits and vegetables that extends shelf life without refrigeration.

So if we get this investment right, we really help emerging markets.

We lower food rot in the field, we increase nutrition at the country level.

We lower greenhouse emissions.

We break the commoditized distribution chains that exist

and potentially we help small holder farmers reach export markets.

So this is the kind of partnership we have to do.

And I really hope, over the course of the next couple of years,

we have 50 or 60 more investments like that.

Wow, that's fascinating, vegetable coating, that's great.

Mari, speaking of the climate change action plan,

the bank has committed to 50% of its climate lending

to support adaptation over the next five years.

Now, this next question comes from Shanti in Mumbai

and she says, "What does it mean to build resilience to future shocks?

And how can the most vulnerable communities do this?"

Yeah, thanks for that question.

I think a lot of times we just focus on mitigation,

whereas adaptation and resilience is key,

especially for the poorest and most vulnerable countries,

who actually only contribute 4% of the greenhouse gas emissions,

but yet they are the most impacted by climate change.

So our assessments do show

that the hardest hit countries are the poorest and the most vulnerable.

And then within developing countries,

the poorest and vulnerable communities are the hardest hit,

especially with climate risk-related natural disasters.

I think 1.5 billion people live in flood prone areas, for instance

and they are the least able to withstand those shocks

because they don't have social support systems

or savings to be able to withstand those shocks.

So it is very crucial for us to raise our ambition

to focus and prioritize adaptation and resilience.

That's why we have said that we will have at least 50% of our financing

addressing adaptation and resilience.

And on top of that within the IDA Program, we are providing concessional resources

to make sure that the poorest countries

will prioritize adaptation and resilience in their programs.

And it is also being prioritized in the IDA20 replenishment.

So that's on the financing part.

But besides financing, we really also need to make sure

that our investments are going to be really resilient.

Our projects and our investments are going to be climate resilient

and helping communities to be more resilient to shocks.

So we have developed this resilience rating system,

which we hope can help our projects as well as help governments

to assess whether their investments are going to be resilient

and also work with communities to help them become more resilient

and more prepared for the shocks.

And finally, I think there is the role for the private sector as well.

As Stephanie has been emphasizing, the private sector is an essential partner.

And for them to also be able to input the risk coming from adaptation and resilience

will be very important in the investment projects as well.

Absolutely, and Stephanie,

building on Mari's point about the role of the private sector,

what do you think needs to happen

to get private capital flowing to support adaptation

and how can a place like the IFC help to move this forward?

Sri, it's a tough question.

And I think to get to the bottom of it we maybe have to unpack it a little bit.

So let me start with where we are today.

In 2018, there were about $30 billion invested in climate adaptation.

1.6% of that, $500 million, came from the private sector.

So how do we increase that number?

I think you start in four different places.

You start with policy and regulatory reform first.

So we need to build climate resilience

into zoning, into building codes, into infrastructure.

If we can do that, it'll create investment opportunities

for IFC and for other private sector players.

I also think if we get that right,

countries can build that naturally into their NDCs.

So not long ago in our upstream activity,

IFC started a project to begin to work with governments

on policy and regulation in this area,

but we will need help from the World Bank.

It's really a public-private partnership and it will be critical.

Second, I think we need to look at definitions and standards.

So in 2016, we started to work with definitions.

That work was then taken by the bank.

And Mari referenced the resilience rating system, which is an excellent start.

I think the work that we're all doing on climate bonds is helping to set standards,

but there's so much more that we need to do in this area.

Especially if we want countries, again, to embed that in their NDCs.

Third, we need to find a way to de-risk adaptation projects

in much the same way we have mitigation projects, using blended finance.

So a great example of this is our Scaling Solar Program,

where we helped the country of Zambia really change their energy mix

by introducing solar in a very systematic way.

But to get it right, we need hundreds of those kinds of platforms.

We need scaling wind, we need scaling floating solar, anything we can think of.

And then fourth, finally, and maybe most importantly,

we need to look at the project level.

So we need investors who are thinking about climate resilience

in every investment they make

to ensure that their assets don't underperform

and that we don't end up with stranded assets.

So recently, we've actually started screening our projects for physical climate risk.

And then we use that information to help our sponsors think about

how do they adapt their investment program for that risk.

So a good example I would give you

is we invested in a forestry project in Latin America.

And we went to the sponsors, we did a physical risk review.

And what we found is they had risk of fire,

they had risk of pests, and they had risk of disease.

So we helped them design a mentoring and monitoring program.

We helped them create fire suspensions,

so that they could actually protect their forests.

And as a result of that, they were able to buy insurance

to cover related climate risk.

So we need more, way more of that.

So I guess I would say, in conclusion,

we've got to get the policy and regulation right.

We've got to get the standard set, then we need to embed those in the NDCs.

And then we need to encourage private sector companies

to really think about resilience, and invest for resilience

so that we get the best outcomes at the country level.

So that really plays a key role here.

Thank you so much, Stephanie.

And for our final question here, Mari,

I want to turn it to you and let's talk about agriculture.

We've had a question come in from Akatwijuka in Uganda.

And the question reads that, "Agriculture is needed

for a sustainable future, but it leads to deforestation,

bush burning, and swamp reclamations.

So what can be done to make agriculture more sustainable?"

That's a really great question.

Just because the need for food is going to increase given the population growth

and the climate change has already affected productivity yields

as well as quality of food.

And farmers, if you have lower quality and lower yield,

you will expand your land use

and what she mentioned, deforestation, swamp use and so on.

So how do we address this challenge?

The World Bank is focusing on not just agriculture, but food security and nutrition

because I think that you have to look at it

not just from the agriculture production side, but from the whole food system.

And we are proposing a framework

of Climate-Smart Agriculture, which has three wins.

First win is to increase productivity and yield,

second, at the same time, reduce greenhouse gas emissions

and third, address the risks coming from pests,

from drought and climate related risks.

So this triple win is what we try to design

in our agriculture and food systems projects.

So half of our lending financing for agriculture

is actually on adaptation and mitigation

with this triple-win, smart-climate agriculture lens.

And we are working already with rice cultivation, livestock, and agroforestry

and also sustainable land use management.

And even within this recovery phase,

there's been some very interesting stimulus programs

where you create Cash for Work Program to restore landscapes as well as seascapes

which creates jobs in the short run.

But then in the medium run, you're actually improving the sustainability,

which will help the farmers and the fishermen

to have higher yield and productivity and livelihoods, right?

So that's an example.

As well as repurposing fertilizer subsidies.

That's another short-term stimulus program.

So I think that's really on the production side,

but, as I said, we need to look at the food systems as a whole.

So we are also working with countries

to develop healthy food systems and nutritious food systems

because healthy food systems means healthy people and healthy economy, right?

And finally, again, private sector.

We have to have partners in private sector.

I think Stephanie already described

how private sector needs to be part of greening the supply chain.

That will be a crucial partner to make all this happen.

That's really fantastic.

Mari, Stephanie, I want to thank you both so much for joining me here today.

And for telling us more about the role climate plays

in helping countries build a green, inclusive, and resilient recovery.

Thank you so much.

Thank you, Sri.

[LOMÉ, TOGO]
I'm Eric Kagon, in Lomé, Togo,

and you're watching the World Bank Group IMF Spring Meetings.

Now, if you've been watching all week, you know that throughout these meetings

we're amplifying the voices and perspectives

of youth leaders, thinkers, and activists around the world.

Today, we hear from Lucy and Ijeoma in Nigeria and Stevie in Indonesia.

They shared their thoughts on COVID-19 and ideas for kick-starting a green recovery.

[HOW CAN YOUTH IN YOUR COUNTRY PARTICIPATE]

[IN A RESILIENT RECOVERY FROM COVID-19?]

[STEVIE LEONARD, INDONESIA]
COVID-19 has brought destructive impacts to the life of youth around the globe.

This year is the golden opportunity for people,

especially young generation, to be actively involved in build back better.

[IJEOMA IDIKA-CHIMA, NIGERIA]
So how can youth in my country participate in a quick

and resilient recovery with the COVID-19 pandemic?

The first is capacity-building

and new skills required to survive in the post-pandemic work and era.

The second would be green recovery.

It is a global concern for us to build actions towards climate change.

[LUCY JIKY, NIGERIA]
Hunger is a profound challenge we are facing in my country

due to the COVID-19 pandemic.

From the fundings we have received and we are receiving,

I believe that if the youth, alongside the grassroots farmers,

are properly funded and equipped with farming equipment

like tractors to shift from manual to mechanized farming,

they'll be able to produce maximally

to facilitate a quick recovery from this pandemic.

Sustainable lifestyle is one of the most effective solutions

where youth can contribute effectively.

Sustainable lifestyle is a combination of green

or eco-lifestyle and healthy lifestyle

where youth can practice easily in their daily life.

Remarkable creativity and innovations

of youth led initiatives, startups, and inclusive policies

to be able to create jobs in our society.

And finally there is a need for peace-building education.

[#YOUTHONCOVID19]

[SANTIAGO, CHILE]
<i>Hola</i>, I'm Pasana Lupo in Santiago, Chile

and you are watching the World Bank Group IMF Spring Meetings.

[LIVE: WASHINGTON, DC]
And my colleague, Paul Blake now joins us

here in the World Bank Group headquarters.

Paul, let's talk polls again.

All this week we've been running them for each of our events.

So what was today's climate poll?

So today we're asking, by 2050

green resilient and inclusive development will be...

And the options are achieved, underway but not complete,

and still a distant goal, that's number three.

In terms of results, coming in at number one

is underway but not complete.

So people sort of striking that middle ground there.

Number two is still a distant goal with 19.3% of the vote.

And number three is achieved with 18.2% of the vote.

So people mostly kind of playing it down the middle.

Yeah, that seems to make sense, I think that is what I voted for, too.

Pretty straight forward this time around.

It seems like a safe bet.

It does, thanks, Paul.

I think now it's time for the first of our two countries spotlights

[COUNTRY SPOTLIGHT ON ARGENTINA]
and all this week we've been speaking with country directors

and managers around the world on their climate challenges

and the actions that they're taking in their countries.

And first up today, we're off to Argentina,

the second largest country in South America, home to many climactic zones.

The Andes in the west, the Pampas grasslands,

tons of subtropical rainforests, and tons of coastline.

I recently caught up with country director, Jordan Schwartz,

and asked him what Argentina is doing to protect those rich ecological resources.

We have two projects or two approaches

[JORDAN SCHWARTZ; COUNTRY DIRECTOR, ARGENTINA]
for trying to bring a cleaner power matrix to Argentina.

One is about service delivery for those in the north.

The poor communities, where there isn't a lot of energy already

and using household solar technology to be able to bring power to schools

and to health clinics and to homes in those areas.

And the other is a larger program.

It's related to the intent of bringing renewable energy

as a share of the demand to a much higher percentage.

We with the government set a target to increase...

over, the short term, not over generations,

increase that percentage to 10% of the matrix,

utilizing the natural resources of sun and wind

of which Argentina is quite abundant.

And so we have a program, we use guarantees,

bringing the private sector, worked with IFC and MIGA,

both of whom have exposure as well,

and have made investments and taken risk.

[PAUL BLAKE; WORLD BANK GROUP]
To sort of shift gears real quick, it's 2021, we're a year into the pandemic.

Talk to me a little bit about what a resilient recovery would look like in Argentina.

In the environmental context,

we're making sure that whatever investments that we are involved with,

which actually turns out in this kind of fiscal situation

to be a large share of the investments

that Argentina is able to make in capital assets,

are being designed, are being built

and will be operated and maintained with efficiency in mind,

with climate co-benefits in mind.

In fact, the whole portfolio will have over 50% climate co-benefits this fiscal year.

So big investment in urban transport.

A lot of investment in improving water and sanitation.

So Jordan, when I think of Argentina,

I often think of farmland, farming, that sort of thing.

Can you talk to me about what the World Bank is doing

to support rural communities in the farming sector

as Argentina looks to mount a resilient recovery from COVID-19?

Yeah, interestingly, our agriculture program, in a sense,

it's structured a little bit like the energy program I was describing

where there's a rural focus,

kind of a smaller project has a large inclination

towards the indigenous populations in the north.

And then a larger program that's more national.

So on the agriculture side, we have a family farming program

that works with small holders in the north.

And like I mentioned, a large part of that is indigenous population.

And helping them get access to markets is the primary function.

And then there's a national program, which is really about risk mitigation

and very focused on climate risk mitigation,

and sets out risk mitigation strategies

involving both the private sector and the public sector.

Works with the provinces in order to make sure that productivity can be sustained

and any investments, large scale investments, like in irrigation or other investments,

that will help to deal with droughts and flooding and the extremes of weather events

that we were discussing in the beginning of our little talk,

are actually managed and mitigated at the provincial level, the rural level.

And finally, a lighter question for you.

What's the part of your job that you love the most?

What inspires you? What's the best part of being the country manager for Argentina

Director. Did you just make me a manager?

I've worked so hard to become a... One interview and you made me a manager.

What's the part that I like the best?

I guess it's a cliche to say it's the staff and it's the interaction with the clients,

but since that actually defines the job,

the portfolio is... everything that we're responsible for is so large.

You're looking at the resilience and the climate change

and the environmental impact work, which is transversal.

And that's one angle, possibly the most important angle,

but it's one angle at which to look at our work.

And it cuts through kind of everything that we do.

In order to be able to get your hands around that kind of policy dialogue

and be able to actually effect some kind of change.

You have to work with this wide range of skills

and wide range of characters and personalities.

You have to try to continue to keep some sort of ambition that we share

as a common goal, sort of common narrative,

And be able to bring that into the government,

where they have their own constraints.

Some very real, fiscal and macroeconomic, and others more policy orientation.

And find a way to communicate all that together.

So it's the mess that I love the most.

And it's the team effort that's required in order to kind of sort through the mess

and to be able to move forward and have a productive program.

Jordan Schwartz, country director for Argentina,

thank you so much for taking the time today.

[KYIV, UKRAINE]
<i>Pryvit,</i> I'm Kaecho Chiecho in Kyiv, Ukraine

and you are watching World Bank Group IMF Spring Meetings.

[LIVE: WASHINGTON, DC]
Well, now let's take a look at what's happening on social media.

Paul, the hashtag for today's event is "GreenRecoveryWBG."

How's the conversation like?

[JOIN THE CONVERSATION: #GREENRECOVERYWBG]
I've been talking to our social media moderators

and they've been telling me what the conversation's like.

And they've been saying that people have been using the hashtag

to discuss solutions for a sustainable future.

Particularly, they've noticed

that people are talking about private sector involvement

in a green recovery plan in countries around the world.

And that a key priority for global leaders should be climate change

and ensuring people have access to a clean, green future.

I'm told that the conversation is especially taking place in English and French,

and it's very active in France, Nigeria, Canada, the UK, and India.

I see it's been mentioned over 1,800 times, that's great.

Yeah, that's fantastic.

So let's get into some of the notable comments.

We have folks joining on Twitter, Facebook, and LinkedIn.

What's the chat like on Twitter?

Sure. So the Minister for Foreign Affairs

and International Development Cooperation of Ireland

said he was happy to meet with the IFC's managing director,

Makhtar Diop and other Nordic Baltic colleagues

to discuss the private sector role

in green, inclusive recovery in developing countries.

We also had Sonia Dunlop in London.

She said that she's loving watching this climate event.

Hello Sonia, and she said, it's a bit geeky, I know.

You're in good company, Sonia.

And then Salina Abraham who's the host of today's program

has also tweeted that she learned so much

on the needed transitions in our energy systems.

That's great to hear.

And how about folks running on Facebook?

There is quite a bit of conversation there as well?

It's happening on Facebook and LinkedIn.

Moses Moso in Papua New Guinea

hopes that country governments put into action

a climate action plan with goals for 2050.

[JOIN THE CONVERSATION: #GREENRECOVERYWBG]
On LinkedIn, we heard from Edward Wilson in Cyprus,

who said that net zero by 2050 requires substantial capital investment

and worries that private capital may not take the risks.

So he's worried about a chicken and egg stalemate

when it comes to addressing climate change.

And then finally we heard from Katsia Altona Kampos.

She's a civil engineer in Columbia,

who said it's especially difficult for developing countries to achieve these goals

as they encounter development challenges like extreme poverty and injustice.

And she said, we need more commitment from our governments

to change these situations.

It's great to see all this engagement on social media.

And hopefully it continues again tomorrow for our final event on vaccines.

Exactly.

So please do join.

You can use the hashtag "ResilientRecovery" to talk about the meetings all week

and as well as #GreenRecoveryWBG is today's hashtag.

Fantastic.

Well, I think it's now time for our second country spotlight.

[COUNTRY SPOTLIGHT ON TURKEY]
Yes. I think we are looking at Turkey next.

We are, So I recently spoke to Dr. Auguste Kouame

and we started off by chatting about some of the country's top climate challenges.

Turkey now is challenged to resume its growth toward high-income status.

[AUGUSTE KOUAME; COUNTRY DIRECTOR, TURKEY]
But the new growth will have to be greener than the old growth model.

Secondly, Turkey faces the challenge of providing jobs

to a large and growing young population,

which represents nearly 40% of the population.

This is the population between age zero and 24.

And youth unemployment is 25%, which is fairly high.

Thirdly, Turkey needs to continue providing support to a large refugee population.

Four million refugees in Turkey, the largest in the world.

And Turkey is now challenged to find resources to meet their needs.

And finally, with education being fairly accessible to women and girls

having the same human capital has grown,

Turkey now faces the challenge

of making use of this human capital that women have.

Turkey's female labor force participation is only 30%,

the lowest among OECD countries.

So the challenge now is to raise these female labor force participation,

so everybody can participate in the economic process.

Well, given some of these challenges,

what has the World Bank been doing in Turkey,

especially in regards to sustainable cities and energy investments?

What can you tell us about that?

We have been working very closely with the government

to support municipalities in meeting the infrastructure

and the service needs of their large populations.

So we have three large projects for almost a billion in total

to help these municipalities.

We also have a project under preparation,

which would help municipalities strengthen their ability

to be more resilient to earthquake

because 83% of the population lives in areas that are vulnerable to earthquake.

In the area of energy, Turkey, because it has large energy needs,

have worked closely with us to help meet the needs.

So we're focusing on three objectives.

One, is to help Turkey become more energy independent.

This has meant that we've helped invest in pipelines, in gas storage.

The second objective is to help Turkey invest more in renewable energy.

And we have invested in several projects in that area.

In geothermal energy for example.

We are looking at hydro power plant.

We're looking at solar energy we're looking at wind energy.

We've done a number of studies in all these areas.

And we already know to come up with projects.

The third objective is to help Turkey organize its energy market,

where we have worked with the government, for example,

to create the gas trading platform that is working fairly well.

And we have also started working with the government on a carbon trading system.

Well, Auguste, I was going to say

that we can't have this conversation and not talk about the COVID 19 pandemic.

It's taken a toll on Turkey as it's taken a toll on the rest of the world.

So what does a sustainable and resilient recovery look like for Turkey?

These are serious challenges.

The recovery will need to first address these inequities

to focus more on people who have been more impacted than others.

The second challenge in the recovery we need to embrace

is to make sure that recovery is sustainable

from the fiscal and financial point of view.

So the macro stabilities will need to be addressed

and the financial system would need to play its role

in providing long-term financing rather than focusing on short-term financing

that tend to overheat the economy.

And the third characteristic of the recovery that is very important

is that it will need to be greener and more friendly to the environment.

Well, Auguste, before we get to the last question,

you are leading a group within the World Bank

that's looking to strengthen our climate change commitments.

So what can you tell us about that?

We have to do something.

The bank has been doing things actually in this area with the climate co-benefits,

which is how much of our investment, our loans, credit, and grant

are put toward addressing climate issues within our project.

Our mandate rather in the World Bank Group

was to see how we can achieve the 35% easily.

We need to move beyond all that

and really move to the upstream and mainstream climate in everything we do.

Climate change certainly is front and center, so thank you for that update.

And now for the final question, Auguste.

I do want to end on a bit of a lighter note.

Tell me what inspires you in the work that you do.

The first thing that inspires me is really our clients.

When I see them struggling to address the development challenges,

you know, it's really inspiring.

And we learn so much from them.

We learn from the experience and reinvest it in other countries or in other projects.

The second thing that inspires me is my colleagues, our staff.

During COVID we were all forced to work at home.

And this came with a number of challenges at the individual level

that we all had to struggle with.

but it was really impressive to see my colleagues work so hard

to help Turkey, not only respond to COVID,

but also continue working on our long-term development agenda.

Well it's certainly been a pleasure having you here this morning.

Thanks so much for joining me and for telling us more

about the World Bank's role in Turkey.

Thank you.

[ULAANBAATAR, MONGOLIA]
Hello, I'm Bant Mandondo in Ulaanbaatar, Mongolia

and you're watching the World Bank Group IMF Spring Meetings.

Well, we are starting to wrap up for today,

but before we say goodbye, Paul, what is coming up tomorrow?

And how can folks catch up on all of this week's events?

So end of day three.

Tomorrow, the focus turns to vaccines.

We have a great program tomorrow

including the World Health Organization's Dr. Tedros,

the World Trade Organization's Ngozi Okonjo-Iweala,

Gavi's Seth Berkley, CEPI's Richard Hatchet.

And then I'll be joined after the program,

for a live discussion with Mamta Murthi,

and Stephanie von Friedeburg will be back here.

It all starts at 11:00 a.m., DC time tomorrow. so do hope you'll join us.

And if you've missed any of the programs this week

you want to watch it back, or there was a part that you'd like to see again,

[JOIN US TOMORROW: LIVE.WORLDBANK.ORG]
head on over to the World Bank's YouTube page.

You'll be able to find it just there.

Yes, and bookmark that page.

I'm looking forward to your chat tomorrow.

-Yes, thank you.
-Thank you, Paul.

And thank you to all of you for joining us today.

Please do join us tomorrow for our final event on vaccines

at 11:00 a.m. Washington D.C. time.

Until then, goodbye.

[UPBEAT MUSIC]