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This event took place on October 14, 2021

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00:00 [Upbeat Music]
00:10 [Annual Meetings 2021]
00:24 [MAKING CLIMATE ACTION COUNT: TURNING AMBITION INTO REALITY]
00:35 [MERIEM GRAY] Hello and welcome everyone.
00:37 We are here to talk all things climate.
00:39 I'm Meriem Gray and I'm live
00:41 in the World Bank Group's headquarters here in Washington, DC.
00:45 Now, in just over two weeks from today,
00:48 COP26 will kick off in Glasgow,
00:50 [MERIEM GRAY, COMMUNICATIONS LEAD, SUSTAINABLE DEVELOPMENT TEAM, WORLD BANK GROUP]
00:51 a major moment which could send
00:52 a decisive signal about how the world will tackle
00:55 the climate crisis.
00:57 While climate change may be a global challenge,
01:00 the battle will be won, or lost, in individual countries.
01:04 The actions they take now and the policies they put in place today
01:08 hold the key to low carbon, resilient growth for the future.
01:12 So today, we are inviting you on a journey
01:15 to see what climate action actually looks like around the world.
01:19 You will be joined by a host of guests
01:21 from real climate solution activists to global leaders,
01:25 and prominent climate advocates.
01:28 [VIRTUAL ANNUAL MEETINGS 2021] [COMING UP]
01:34 [HOW COUNTRIES ARE ACTING ON CLIMATE]
01:36 [IVÁN DUQUE MÁRQUEZ, PRESIDENT OF COLOMBIA]
01:39 [DAVID MALPASS, PRESIDENT, WORLD BANK GROUP]
01:44 [HOW TO ADVANCE CLIMATE AMBITION]
01:46 [JANET YELLEN, US SECRETARY OF THE TREASURY]
01:49 [ANTÓNIO GUTTERES, UNITED NATIONS SECRETARY-GENERAL]
01:54 [NATURE AND CLIMATE ACTION]
01:55 [HRH THE PRINCE OF WALES]
01:59 [HOW TO TACKLE DEVELOPMENT AND CLIMATE TOGETHER]
02:00 [AXEL VAN TROTSENBURG, MANAGING DIRECTOR OF OPERATIONS, WORLD BANK]
02:05 [CLIMATE SOLUTIONS IN ACTION]
02:06 [VIETNAM] [HONG HOANG, FOUNDER AND EXECUTIVE DIRECTOR, CHANGE]
02:08 [INDIA] [YAMINI AIYAR, PRESIDENT AND CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
02:10 [JORDAN] [SAMER JUDAH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
02:13 [FOCUS ON ADAPTATION]
02:15 [PROFESSOR SALEEMUL HUQ, DIRECTOR, INTERNATIONAL CENTRE FOR CLIMATE CHANGE AND DEVELOPMENT, BANGLADESH]
02:18 [FOCUS ON THE PRIVATE SECTOR]
02:19 [CHRIS SACCA, FOUNDER AND CHAIRMAN, LOWERCARBON CAPITAL]
02:21 [ALAN JOPE, CEO, UNILEVER]
02:23 [FOCUS ON COP26]
02:24 [ALOK SHARMA, PRESIDENT, COP26]
02:30 [MERIEM GRAY] We've got so many great guests coming up.
02:33 To kick us off, the President of the World Bank Group,
02:35 David Malpass invited two global leaders
02:38 to share their thoughts on how to make climate action count.
02:41 In this first conversation, he is joined by
02:44 the President of Colombia, Iván Duque
02:46 and in the second, Mark Carney,
02:47 the UN special envoy for climate action and finance.
02:55 [DAVID MALPASS] Thank you, Meriem.
02:56 Welcome everybody to our discussion.
02:59 I'm very pleased to be joined today by President Iván Duque
03:03 to discuss Colombia's approach to climate change.
03:07 Climate change is, of course, a global challenge,
03:10 but the battle will be won or lost in individual countries.
03:15 It's not an equal battle.
03:17 There are advanced economies that have historically emitted
03:20 most of the world's man-made greenhouse gas emissions.
03:24 These countries need to significantly step up every effort
03:28 to reduce greenhouse gas emissions
03:30 and extend support to the rest of the world.
03:34 There are the world's poorest countries, IVDA countries,
03:38 that account for less than a 10th
03:40 of total man-made greenhouse gas emissions
03:43 where we need to see investments in adaptation
03:45 and climate-resilient infrastructure
03:48 and in low-carbon energy at scale.
03:51 And there are countries like Colombia,
03:54 middle-income economies that were hard hit by the crisis.
03:58 As they recover, they also need to think about
04:01 the significant climate-related impacts they face
04:05 and how to contribute to global efforts on mitigation
04:09 while investing heavily in adaptation too.
04:13 President Duque, very glad you could join me today.
04:16 I'd like to welcome you to share your insights into
04:19 how Colombia is thinking about reducing emissions,
04:23 and delivering on adaptation
04:25 and becoming a climate action leader.
04:27 So welcome.
04:29 I know these are very hard efforts.
04:31 I wonder if you'd give us
04:32 a general perspective on Colombia's plans in this area.
04:37 [IVÁN DUQUE] Thank you so much President Malpass.
04:39 It's great to be here with you, David,
04:41 Not only my admiration, but gratitude because we know
04:44 how much you're doing for the countries around the world
04:47 in order to face not only the crisis that has been derived from the pandemic,
04:51 but also how do we recover our economies
04:53 and how do we do it in accordance with the principles
04:56 that we must meet in order to reach
04:59 what we call the highest reduction of CO2 emissions in our history
05:03 and carbon neutrality towards 2050?
05:06 I'll begin by saying that, yes, we're heading to Glasgow,
05:11 and we're heading to Glasgow with a very bold promise and objective
05:16 to be reached.
05:17 The first one is that we want to reduce by 51%
05:21 all of our greenhouse houses emissions by 2030.
05:25 We've also set the goal that we want to reach
05:29 carbon neutrality by 2050.
05:31 Those are the two major goals.
05:32 So yes, we're talking about carbon neutrality,
05:35 but something that is also important, David, is that
05:37 we're talking about nature positive policies,
05:41 carbon-neutral, nature positive policies.
05:44 And by that, we have set the goal of zero deforestation by 2030
05:48 and something that is more important,
05:50 which is to reach the 30 X 30 compromise
05:53 of having the Colombian land or territory to be protected area.
05:59 Considering that those are the major goals,
06:02 the question is, how do we plan to get there?
06:05 First thing to say, energy transition.
06:08 When my administration began,
06:09 we only had 35 megawatts of install capacity
06:13 in non-conventional renewables.
06:15 That was 0.2% of the energy matrix.
06:18 By December 2022,
06:22 we'll have more than 2,000 megawatts of installed capacity in Colombia.
06:26 That means we will pass 14% of the installed capacity,
06:30 and we're heading the road to reach 20% very fast,
06:34 and we even might get higher on that ambitious target
06:39 because we're having a new auction that is going to have projects
06:43 for at least 4,800 megawatts to be installed in the next four years.
06:48 So that's issue number one.
06:51 Issue number two is what we call clean mobility.
06:54 I was the co-author of the bill that passed through Congress
06:57 and that allowed Colombia to have incentives
07:00 so that we can have a replacement in the car fleet around the country.
07:03 And we had a goal to get to 6,000 vehicles before the end of my term,
07:08 and we're reaching this target by the end of this month.
07:11 That means that electric vehicles in Colombia are growing.
07:15 Something that is also very significant,
07:17 we have consolidated the biggest cargo and passenger fleet
07:23 in Latin America and the Caribbean with electric vehicles.
07:26 The third element, circular economy.
07:28 Producing conserving, conserving producing.
07:31 We're getting to zero deforestation agreements
07:33 with multiple sectors in Colombia.
07:36 But we're also encouraging the private sector
07:39 to take a lead in water management, waste management,
07:43 and something that is also aligned with a goal that we have set
07:45 with a One Trillion Trees Initiative,
07:47 help us plan 180 million trees by August 2022.
07:53 The other thing that I should say
07:54 and this is the fourth, very important element is that
07:58 we want to reach that 30 X 30 Initiative,
08:00 30% of the Colombian land being a protected area.
08:03 We're now at 22%.
08:05 We hope to meet that target
08:07 by no longer than August next year.
08:09 I know it is very ambitious, but we have to reach that target,
08:12 not only thinking about the oceans
08:15 but also thinking on on land protected areas.
08:18 And I should also mention something that is very important,
08:20 the protection of the Amazon, the Leticia Pact
08:23 and the compromise that we have
08:25 in order to build nature-based solutions
08:28 and pay for environmental services.
08:30 This five components, David,
08:33 are the cornerstone of the objectives that we have set
08:38 in order to meet the 2050 carbon neutrality nation positive target,
08:42 but also have a 51% reduction on CO2 emissions by 2030.
08:47 [DAVID MALPASS] President Duque, I want to thank you very much
08:49 for joining us today,
08:51 and it sounds like huge challenges,
08:53 and you've got a clear direction
08:55 of where you're going on them.
08:56 I appreciate it. Thanks.
09:02 [DAVID MALPASS] Hello. I'm glad to be back.
09:04 And here joined with Mark Carney.
09:06 [WASHINGTON DC, USA] He doesn't need much introduction,
09:08 [OTTAWA, CANADA] but I'll remind people he was the head
09:10 of two different central banks, Canada and the United Kingdom.
09:13 That's a huge job right there.
09:16 Also head of the Financial Stability Board.
09:18 And for those involved in climate, he needs no introduction.
09:21 He's been hugely involved for years in this issue of
09:25 how do we get enough financing
09:27 to actually have an impact on climate change.
09:30 Mark, thank you for being here.
09:33 I'm interested in that question.
09:35 Where do you think we are currently on the idea of
09:39 the amounts of money needed and how we connect them to projects?
09:42 I have ideas, but I really want to hear
09:46 how you're thinking about that challenge.
09:50 [MARK CARNEY] Absolutely. Thank you, David, for having me.
09:52 I know you're incredibly busy working on these
09:54 and many other issues.
09:55 The first thing to say is scale of the problem
09:57 or scale of the issue,
09:59 which is we need to effectively double spending investment
10:02 on energy infrastructure for decades.
10:06 We're talking an extra two, two and a half trillion dollars
10:10 of investment in energy infrastructure alone.
10:13 And that's before the spending on resilience adaptation,
10:17 hard-to-abate sectors' other aspects.
10:19 About three quarters of that spend will be
10:21 in emerging and developing economies, as you know well.
10:24 So these are big, big numbers approaching 2% of global GDP,
10:29 where's the money going to come from?
10:30 As you know, the bulk from the private sector
10:32 and let me just give you one figure and then hand back
10:35 which is what we've been working on is getting
10:38 the best of the private sector committed to net zero transition,
10:42 big banks, insurers asset, managers asset, owners.
10:45 The number, as we speak today,
10:47 is 90 trillion, nine zero trillion dollars
10:50 of balance sheet committed for that.
10:52 And that's not for some distant date.
10:54 It's near term, five year commitments,
10:57 fair share of the 50% reduction by 2030.
11:01 So now the challenge is, how do we marry that capital,
11:04 that commitment with where it's needed most,
11:07 channel it to those emerging and developing economies.
11:10 [DAVID MALPASS] I just spoke with
11:11 President Iván Duque, the president of Colombia.
11:15 Colombia has an NDC that's interesting.
11:17 It's to reduce by 50% from the baseline.
11:20 So the baseline is for growth in greenhouse gas emissions
11:25 and it's going to be reduced by 50% by 2030.
11:29 So it's a tall order.
11:30 I asked him, how do you finance that?
11:32 And it means a lot of projects.
11:35 Identifying the major emitters within Colombia,
11:39 some of which are land used, for example, in addition to fossil fuels.
11:43 How do you reduce that?
11:45 You can finance it somewhat by securitizing assets
11:49 as they come available, by creating ways to subsidize
11:54 or to add grant money, foundation money, for example,
11:58 to a given project working maybe with the World Bank
12:01 or with the Inter-American Development Bank on a way to do a project.
12:04 So it brings together all the sources of financing
12:08 with the projects that are to be done.
12:13 Can we discuss various new techniques that that can be done through
12:17 with your huge expertise in that?
12:21 [MARK CARNEY] Well, I think the thing and it's very exciting
12:22 [MARK, CARNEY, SPECIAL ENVOY ON CLIMATE ACTION AND FINANCE, UNITED NATIONS]
12:22 [UK PRIME MINISTER JOHNSON'S FINANCE ADVISOR FOR COP26]
12:23 what President Duque and Colombia are doing,
12:26 and I think this goes directly to where we can move the system.
12:30 As you will know, the World Bank has been developing and working hard
12:34 on country platform approaches,
12:36 and I think the opportunity is to extend them and blend in
12:42 that very large scale of money, I was just talking about
12:45 the 90 trillion from geo-fence
12:47 and what we need to have at the heart of it are two things.
12:52 I think one is,
12:53 the appropriate blended finance vehicles at scale.
12:56 So think of the IFC's MCPP is one great example of that.
13:02 There are other examples.
13:03 Those appropriate approaches,
13:05 the right private sector forms of financing,
13:10 CFLI is an example, FAST infrastructure, a new example.
13:14 These are proven methods that the private sectors come together
13:17 for the format for project investing,
13:20 but as well, I think with the imprimatur, if I may,
13:24 of the World Bank and others
13:24 to say that a program such as Colombia's is consistent with
13:29 the transition the world needs that unlocks an opportunity
13:33 for the private sector, which is looking
13:35 for exactly that type of net zero alignment
13:38 but really isn't on its own able to make those determinations
13:42 independently or else, it's subject to Greenwash
13:45 and other concerns.
13:47 Bringing all those elements,
13:49 the best of blended finance of the World Bank and other MDBs,
13:52 the best of private sector platform approaches,
13:54 CFLI, FAST and FROZE two examples,
13:56 there are a few more that geo-fence identified,
13:59 but also connecting them with pure private finance
14:02 that's consistent with the transition,
14:04 such as the one you just discussed in Colombia.
14:08 [DAVID MALPASS] Thanks. That's a great close.
14:09 I want to thank Mark Carney for all the engagement here today.
14:14 Thanks.
14:16 [MARK CARNEY] Great. Thanks, David. Thanks for everything you're doing.
14:19 [Upbeat music]
14:20 [BANGLADESH] Hello. I'm [inaudible speech]
14:22 and you're watching the World Bank Group-IMF Annual Meeting.
14:27 [MERIEM GRAY] Thank you to David and his guests
14:29 for those insights on turning climate ambition into reality.
14:33 And the conversation didn't stop there.
14:35 You can watch both full discussions using the link.
14:38 You should be able to see on your screen right now.
14:40 [LIVE.WORLDBANK.ORG/CLIMATE]
14:41 We are streaming this event in English, Spanish, French, Arabic,
14:45 on World Bank Live and on our social media channels.
14:49 And to tell us a little more about how to get involved,
14:51 I'm joined by my colleague Sri Sridhar.
14:53 Welcome Sri.
14:53 [SRI SRIDHAR] Thanks, Meriem.
14:55 [MERIEM GRAY] Can you please tell us a little more about
14:57 how people can get involved and what else is ahead of us?
15:01 [SRI SRIDHAR] So you mentioned our social media channels
15:03 [HOW TO HAVE YOUR SAY] and we are on Facebook,
15:05 Twitter, and Instagram,
15:06 and you can share your comments at any time using the hashtag
15:09 [SRI SRIDHAR, COMMUNICATIONS OFFICER, WORLD BANK GROUP]
15:10 for today's event, which is Voices for Climate.
15:12 You can also post questions and comments
15:13 directly on live.worldbank.org.
15:17 So a lot of ways for folks to really get engaged
15:20 and join the conversation.
15:22 You did mention that the event is being streamed in
15:23 English, Spanish, French and Arabic.
15:26 And we actually have live expert bloggers standing by
15:29 in all four languages to answer as many questions as possible.
15:32 And the really cool thing is that some of the most popular questions
15:35 that come in have a chance of being asked
15:38 by some of those senior experts later today.
15:42 [MERIEM GRAY] So we will be joined by Axel Van Trotsenburg,
15:44 managing director for operations at the World Bank,
15:47 and Stephane Hallegatte who is our senior advisor
15:49 at the World Bank Group's climate team.
15:54 I also understand we are asking people to take part in the quiz, right?
15:59 [SRI SRIDHAR] Yes. So today's quiz asks,
16:01 when do you think global greenhouse gas emissions
16:03 will start to go down?
16:04 And there are four options.
16:06 Have they already started to go down?
16:08 Will they go down in 2030, 2050 or will they never go down?
16:13 So once more, the quiz today asks,
16:15 when do you think emissions will start to go down?
16:17 They already have started to go down?
16:19 They'll go down in 2030, 2050 or never?
16:22 So to take part in this quiz, head on over to live.worldbank.org
16:26 and get your vote in before the quiz closes.
16:29 [MERIEM GRAY] Thank you so much, Sri.
16:29 We will be coming back to you later for an answer.
16:32 [SRI SRIDHAR] Thanks, Meriem.
16:33 [MERIEM GRAY] Next up, we are going to hear
16:35 from several people about how best to advance
16:38 the climate agenda.
16:39 First from Janet Yellen, Secretary of the United States Treasury.
16:48 [JANET YELLEN] Hi Everyone.
16:49 I'm Janet Yellen, the US Treasury Secretary.
16:53 I want to thank President Malpass
16:55 for the chance to say a few words
16:57 about climate change in the United States role
17:01 in addressing this existential threat.
17:05 As I record this video,
17:07 a host of climate proposals are moving through our Congress.
17:12 The president has proposed dotting
17:16 with 500,000 electric vehicle chargers
17:20 and funding from fundamental R and D in nascent green technologies.
17:26 But we also know that our efforts
17:28 to address climate change cannot stop at the border.
17:32 In July, when many of us met in Venice,
17:35 I outlined the United States' plan to double
17:38 our public international climate finance
17:41 to developing countries by 2024.
17:45 Last month, President Biden went to the UN General Assembly
17:50 and announced that we're doubling that number again.
17:53 The United States has committed 11.4 billion dollars per year,
17:58 including financing for adaptation efforts.
18:02 Indeed, as we approached COP26,
18:06 there's renewed urgency for all nations
18:09 to take the necessary steps toward the global goal
18:13 of keeping warming below one and a half degrees Celsius.
18:18 The multilateral development banks,
18:21 as this Group knows better than anyone,
18:23 play a leading role here.
18:25 They help emerging economies prioritize climate investments
18:30 integrate climate resilience into infrastructure planning,
18:35 protect critical ecosystems,
18:37 an increased climate ambition
18:40 as part of their nationally determined contributions
18:43 and long term strategies.
18:46 The United States is a large shareholder
18:48 in the multilateral development Banks,
18:51 and we're committed to using our position of leadership
18:55 to help facilitate a global transition
18:58 toward net zero emissions by mid-century.
19:02 In fact, I convened a meeting
19:04 of the heads of the multilateral development banks
19:07 over the summer,
19:08 and I asked that each institution develop concrete plans
19:13 to raise their climate ambitions
19:16 and to identify specific ways
19:19 they could each mobilize climate finance
19:22 for developing countries.
19:24 Of course, no amount of public financing alone will be sufficient
19:29 to meet the goals of the Paris Agreement.
19:32 Private capital will be essential to fill the gap.
19:36 As we work to mobilize this capital,
19:39 we must continue to focus
19:41 on addressing the ongoing challenges
19:44 that emerging markets in developing countries face
19:47 and attracting private sector financing,
19:50 especially for greenhouse gas mitigation
19:54 and adaptation infrastructure,
19:57 and to reduce these impediments to investment.
20:01 I look forward to our discussions over the coming week
20:05 and hearing more from you
20:07 on how we can move beyond our ambitions
20:10 to definitive action.
20:16 [GLASGOW 55.8600ºN 4.2854ºW]
20:22 [MERIEM GRAY] Thank you to Madam Secretary
20:24 for that message on the role of multilateral development banks
20:27 in helping emerging economies to meet their climate ambition.
20:31 I know that's something our next guest also feel strongly about.
20:33 Let me welcome Axel van Trotsenburg,
20:35 World Bank's Managing Director of Operations.
20:38 Axel, we know we work a lot on identifying specific ways
20:43 to help developing economies to meet climate targets,
20:46 which really means
20:47 rethinking how develop and climate change intersect.
20:50 How is the bank applying this thinking?
20:53 [AXEL VAN TROTSENBURG] Climate is really affecting all our lives.
20:58 We need to think not in an isolated way about climate,
21:03 There is a problem with pollution
21:06 or there is a problem with weather-related events.
21:12 You need to think more globally.
21:14 What we have been saying is,
21:17 let's look at this comprehensively
21:21 and first, we want to understand the drivers of this v
21:26 but not in isolation, but in relation to development.
21:30 Our latest climate change action plan
21:35 includes the so-called Country Climate and Development Reports.
21:41 [LIVE: WOLRD BANK MANANGING DIRECTOR OF OPERATIONS ON CLIMATE CHANGE AND DEVELOPMENT]
21:42 It's precisely to address climate and development.
21:45 Let's keep this in mind,
21:47 the World Bank has its mission to reduce poverty,
21:50 and we have made great progress.
21:52 But climate change could undo some of this progress.
21:56 In the worst case event, we could see an increase
22:01 in extreme poverty
22:02 throughout this decade by about 130 million people.
22:07 We don't hope that that will happen,
22:09 but it's fairly clearly related that you have climate
22:12 and it can affect people, therefore need to do this.
22:15 So we bring this together
22:16 And then when we're looking at the drivers,
22:19 we like to drivers not only to look at all the sectors
22:25 be it in the agriculture sector,
22:27 forestry sector, what's with the services sector,
22:30 what is also happening in the financial sector,
22:35 but then also how certain policies can affect climate action,
22:40 from fiscal policy to overall economic and sectorial policy.
22:45 So that is how we try to bring this together.
22:49 What's then ultimately important is that
22:51 not only we understand drivers, but that we do something about this.
22:56 And here, the Bank has been scaling up its engagement.
23:01 We had had a very strong last five years
23:05 where we delivered over 83 billion dollars
23:09 in climate-related financing.
23:11 Our intention in the next five years is
23:14 to increase this by 50%.
23:16 So what we are trying is really to scale this up
23:20 and we hope that everybody joins us.
23:23 [MERIEM GRAY] Thank you so much, Axel.
23:24 Thank you.
23:26 Climate change may be a global challenge,
23:28 but every country counts in this fight.
23:30 We asked a climate activist from Vietnam
23:33 to share her thoughts on how we can all play a part.
23:43 [CLIMATE JOURNEY VIETNAM] [MEKONG DELTA 10.0634ºN 105.5943ºE]
23:47 Last year, 2020, we experience the worst drought and salinity
23:52 in the Mekong Delta, the major rice producer of the country.
23:56 Many farmers lost their crops.
23:58 People carrying a lot of water containers
24:01 and standing in super long line waiting to get or buy fresh water.
24:07 [CENTRAL VIETNAM 14.6517ºN 108.4276ºE]
24:10 [Hong Hoang] Last year, people in central Vietnam
24:12 went through record floods and typhoons
24:15 back to back, costing hundreds of human lives
24:18 and huge economic losses.
24:21 There are many more people right now aware that, "oh, it's climate change",
24:26 But most of them would say, "well, there's nothing much
24:29 I can do about it."
24:38 [CHANGE, A NON-PROFIT WORKING WITH YOUNG PEOPLE TO DELIVER CLEAN ENERGY IN VIETNAM]
24:40 Many NGOs, including mine,
24:42 have been working with these amazing young people
24:45 so that they can implement their own projects to address
24:48 their own environmental and climate problems of the province.
24:52 Also, business corporations are seeing more of their responsibilities
24:57 to contribute to a low carbon, sustainable economic growth.
25:01 But I think the best part is when the community,
25:05 especially young people are stepping up everywhere
25:09 and taking the lead of the climate movement in the country.
25:13 My vision for a successful climate action is where the movement is led
25:18 by the community, by the young people
25:21 but is supported by everyone in the society.
25:24 This climate change is too big.
25:26 It's a huge crisis that would require everyone to work together.
25:41 [ANTÓNIO GUTTERES] Excellencies, colleagues,
25:43 as COP26 approaches, it is essential for all humanity
25:47 that will fulfill the promise of the Paris Agreement.
25:50 That means reducing emissions by half by 2030
25:55 and achieving net zero emissions by mid-century,
25:57 so we can limit temperature rise to 1.5 degrees from pre-industrial levels.
26:03 It means providing and exceeding 100 billion US dollars a year
26:07 to developing countries for climate action
26:10 and shifting all financial flows to promote net zero emissions
26:13 and resilient development.
26:16 And it means protecting people from the impacts of climate disruption
26:19 and relocating at least half of all public climate finance to adaptation.
26:25 We are not yet there.
26:27 Despite some recent encouraging announcements,
26:30 I remain especially concerned over the lack of progress
26:33 on public climate finance.
26:36 Let us be very clear,
26:38 100 billion dollars a year from public and private sources
26:41 for mitigation and adaptation for the developing world
26:45 is the bare minimum.
26:46 Much more will be needed,
26:49 and development banks have an essential role to play.
26:52 We need you to spare ahead the transition of energy systems
26:55 from fossil fuels to renewables
26:57 while also ensuring universal access to energy.
27:00 You must lead the way in supporting credible just transition plans.
27:05 And you must marshal efforts to fund green, resilient and inclusive recoveries
27:09 without exacerbating the sovereign depth crisis
27:12 that crippled low and middle-income countries.
27:16 It is essential to avoid entrenching developing countries
27:19 in high carbon, fossil fuel intensive investments
27:23 with high stranded asset risks.
27:25 Critically, you must encourage private finance at scale.
27:30 Despite commitments made in Paris and repeated every year since,
27:34 leverage ratios of multilateral development banks
27:36 are nowhere near what is needed for transformative impact.
27:40 Excellencies, let me turn now to adaptation resilience.
27:44 There are no other institutions better placed than
27:46 development banks to fund adaptation needs.
27:50 If multilateral regional and other public development banks
27:53 do not lead on this front, no one will.
27:55 It is your responsibility to ensure that climate impacts
27:58 will not jeopardize hard won development gains.
28:03 Years of work and trillions of dollars in investments are at risk.
28:07 That is why I'm asking dollar countries
28:09 and multilateral development banks
28:11 to allocate at least 50% of their climate finance
28:14 to adaptation and resilience.
28:16 Excellencies, friends.
28:18 The clock is ticking.
28:20 The world is growing anxious.
28:22 We need your leadership and I wish you a productive meeting.
28:27 I thank you.
28:31 [GLASGOW 55.8600ºN 4.2854ºW]
28:38 [MERIEM GRAY] What a great message from the UN Secretary General
28:41 about why COP26 is so critical and what's at stake.
28:45 Now, one of the critical ways to address the climate crisis is through
28:49 what's called "nature-based solutions" or "green infrastructure".
28:52 Everything from mangroves on coastlines to green spaces in urban areas.
28:57 Our next guest, His Royal Highness, the Prince of Wales,
29:01 has long been a passionate advocate of the importance of nature and biodiversity.
29:05 Here's what he had to say.
29:11 [HRH THE PRINCE OF WALES] Ladies and gentlemen,
29:12 I am enormously grateful to have been invited to join you
29:15 for this year's annual meetings
29:17 of the World Bank Group and the International Monetary Fund.
29:23 As we look to build forward better from this pandemic,
29:27 it is increasingly clear that human health, planetary health,
29:31 and economic health are fundamentally interconnected.
29:36 77 years on from the Bretton Woods Conference,
29:39 and with global threats now surpassing those we saw
29:43 in the Second World War,
29:45 we simply must seize the current window of opportunity
29:49 to reimagine our global systems
29:48 of opportunity to reimagine our global systems
29:52 in a way, that puts nature, people, and planet
29:56 at the heart of how we operate
29:58 to consider how to do this and how to catalyze
30:03 the trillions of dollars needed for transition.
30:06 I convened a group of international CEOs
30:10 to help develop a Terra Carta,
30:13 a practical blueprint for practical action.
30:17 The result identifies three key priorities.
30:21 First, encouragement to governments
30:24 to send clear market signals
30:27 about long term economic direction
30:30 and the timelines involved
30:32 to incentivize the achievement
30:34 of climate, biodiversity and just transition targets.
30:39 This could helpfully include
30:41 clear sustainability mandates
30:44 for the multilateral development banks.
30:47 Only with this kind of clarity
30:50 can industries and investors alike
30:52 have the confidence they need
30:54 to channel a trillions of dollars at their disposal
30:57 towards a sustainable future.
31:00 Second, to meet the world's 1.5 degree target
31:05 we need to align industry, investment,
31:08 and country transition roadmaps
31:11 to build pipelines of investable and genuinely sustainable projects.
31:18 Multilateral development banks have a critical role to play
31:23 to help build technical capacity, mitigate risk,
31:27 and improve the flow of private finance,
31:30 particularly in the world's most climate vulnerable countries.
31:35 Third, consumers control over 60% of global GDP
31:39 so they need clear information
31:42 about the sustainability of products and services
31:45 they are buying in order to make informed choices.
31:49 This is starting to happen, be it through sustainably grown food,
31:54 green transportation, sustainable fashion, or working for sustainable employers.
32:01 Mandating global standards,
32:03 including through internationally recognized labeling,
32:06 would be transformational.
32:09 Ladies and gentlemen, to seize this moment of acceleration,
32:13 we simply must work together
32:16 across public, private, and philanthropic sectors
32:20 to build a pipeline of transformative projects
32:24 at scale that can help us rapidly transition to a sustainable future.
32:30 Leveraging the private sector's estimated 145 trillion dollars
32:36 in assets under management, projected by 2025
32:41 will be key to our collective success.
32:45 Here, the World Bank, the IMF
32:48 and regional multilateral development banks
32:50 have a crucial role to play
32:53 in removing the risk barrier to private financial investment.
32:58 I'm afraid it is time to roll up our sleeves
33:02 and detail our plan of actions.
33:05 In particular, I would like to encourage
33:08 that we look at accelerating private finance,
33:12 including through first and second loss guarantee pools,
33:17 advancing systems level solutions,
33:20 including by looking at governance and mandates
33:24 and enhancing technical and operational capacity,
33:29 including preparing projects for investment.
33:33 With action on climate change, biodiversity loss,
33:37 and a just transition more urgent than ever.
33:42 I can only encourage us all
33:44 to get to work and sort this problem out.
33:49 [ANNUAL MEETINGS 2021, WASHINGTON DC]
33:50 [GERD MÜLLER, FEDERAL MINISTER FOR ECONOMIC COOPERATION AND DEVELOPMENT, GERMANY]
33:52 Your Royal Highness. Excellences. Ladies and gentlemen.
33:56 Time is running out for a 1.5 degree target.
34:01 Our challenges are huge.
34:03 The COVID-19 pandemic, extreme poverty,
34:06 persistent conflicts, the climate crisis.
34:10 If you don't change cost, global temperatures will increase
34:14 to two, maybe three degrees Celsius by the end of the century.
34:21 We still have a chance to go green.
34:25 We have the knowledge and the technologies
34:27 to address these crisis.
34:30 We also have the resources.
34:33 Many countries are planning massive investments
34:36 to restart the economies,
34:39 but only ten percent of the recovery programs
34:42 target resilience and green investments.
34:46 That is why we started the Green Recovery Initiative.
34:50 We work together with the Word Bank, Austria and the UK
34:55 to strengthen this initiative.
34:58 Germany will provide an additional 60 million Euro.
35:04 The initiative will support a global transformation role,
35:09 policies that put a price on carbon,
35:12 and phase out fossil fuel subsidies,
35:16 targeted private investments in renewable energies,
35:20 green infrastructure and nature-based solutions.
35:24 We cannot wait any longer to fight climate change.
35:28 Concrete actions for such a global transformation
35:32 are key for a successful COP26.
35:36 [WIND BLOWING]
35:39 [GLASGOW, 55.8600°N, 4.2854°W]
35:44 [MOSES ALEX KARGBO] [Speaking in foreign language]
35:48 I am Moses Alex Kargbo in Freetown, Sierra Leone
35:52 and you're watching the World Bank-IMF Annual Meetings.
35:58 [MERIEM GRAY] A huge thank you to minister Gerd Müller
36:01 for this message
36:02 I'm joined now by Stephane Hallegatte
36:04 who is a senior advisor to the World Bank Climate Change Team
36:08 Stephane, it feels like every day there is another climate news,
36:14 whether it's, you know, a record-breaking heat,
36:17 or wildfires, to devastating floods and hurricanes.
36:21 So-- And this is impacting people across the world.
36:24 Is this something we should be really this surprised about?
36:26 [STEPHANE HALLEGATTE, SENIOR ADVISOR AND ECONOMIST, CLIMATE CHANGE TEAM, WORLD BANK GROUP]
36:27 No, we're not surprised about this.
36:29 Actually, this is what was expected decades ago already.
36:33 Even a minor change in the average climate
36:35 can have a huge impact on extreme events.
36:38 So if you look at heat waves, heavy rainfall or wildfires,
36:43 we see already a lot of difference in the frequency and intensity.
36:46 And as you said, everybody is affected.
36:48 But for us here, at the World Bank,
36:50 what really matters is the fact that poor people
36:53 are more affected than the rest,
36:54 and that these extreme events increase poverty.
36:57 Today, we estimate that the natural disasters
37:00 already push 26 million people per year in poverty.
37:04 And if we look at 2030, it's up to 130 million people
37:08 that could fall in poverty, just because of climate change.
37:11 [MERIEM GRAY] Well, those are really shocking numbers.
37:14 So is it all just bad news? Are there things we can do?
37:17 [STEPHANE HALLEGATTE] Well, the first thing
37:18 is if poverty explains vulnerability,
37:21 it means that when we take people out of poverty,
37:24 we make them less vulnerable
37:25 and we reduce the impact of climate change.
37:27 So richer people with better savings,
37:30 better access to healthcare,
37:31 financial inclusion and so on, can better adapt and cope.
37:35 So our mission here, reducing poverty
37:38 is also a mission to reduce the vulnerability
37:40 of this population and make them less vulnerable.
37:43 Of course, this is over the short run.
37:46 If you look at the long term, we also need
37:48 to stabilize climate change and reduce carbon emissions.
37:52 [MERIEM GRAY] So broadly,
37:55 all countries have committed to tackle climate change
37:58 and on both sides of it,
38:00 reducing emissions and making people less vulnerable to it.
38:03 So what needs to be done and what comes first.
38:06 [STEPHANE HALLEGATTE] So the first thing to know
38:08 is that to stabilize climate change,
38:09 So, to stop the increase in temperature,
38:11 carbon emissions need to go to zero.
38:13 So we're not talking about a reduction by ten or 20 percent.
38:17 No, we're talking about a radical change going to zero.
38:19 And of course, that makes the challenge
38:21 look daunting, extremely difficult.
38:23 And yes, it is difficult.
38:25 But what we'll try to convince everybody today
38:28 is that it is possible to do it
38:30 and it is easier than it looks.
38:32 And it's easier if we cut the problem in two pieces.
38:34 So let's start with energy.
38:36 We know energy is critical for development,
38:39 it's critical for modern technologies
38:41 quality of life, growth and productivity.
38:43 Still, today, 800 million people don't have access to electricity.
38:48 So we have a major development challenge here.
38:51 At the same time, energy is responsible
38:54 for 70 percent of carbon emissions globally.
38:57 So this is also a climate challenge.
38:59 So, here, this is a combi--
39:00 A combination of climate and development challenge
39:02 we have in front of us.
39:04 [MERIEM GRAY] Stephane-- Stephane,
39:06 let's just take a look at the data now and see
39:10 how different sectors contribute to this total.
39:14 Let's take a look at the line,
39:17 which shows a contribution of electricity and heat.
39:19 So this is almost 16 billion tons of CO2 equivalent
39:23 per year, already today.
39:24 [MERIEM GRAY] Next up, transport,
39:26 effectively how we move
39:28 around the cities and across countries.
39:30 [STEPHANE HALLEGATTE] In this one, you see
39:31 almost a straight line going up.
39:33 [MERIEM GRAY] Going up.
39:34 And lastly, manufacturing and construction.
39:38 So looking at this, clearly, energy is the biggest part.
39:42 [STEPHANE HALLEGATTE] Yeah. And those three lines
39:45 need to go to zero.
39:46 So how do we make that happen?
39:48 So the first thing is to make electricity
39:50 without emitting carbon,
39:53 and we can do that by investing massively in renewable energy.
39:56 It's the first thing we can do.
39:58 So that's solar, wind, geothermal
40:01 and the good news is the costs of those technologies
40:03 have dropped so much recently
40:05 that this is cheaper than fossil fuels today.
40:08 So, we can invest in renewable and it's affordable now.
40:12 In parallel, we have to exit from fossil fuels
40:15 in electricity generation.
40:16 That's the second thing we need to do
40:18 and that, we have to do it very carefully
40:20 because first, we have to keep the stability of the system.
40:23 And second, some communities are very dependent on coal.
40:27 And if we want to just transition,
40:28 we need to invest in those communities to make sure they can transition away
40:33 from coal and find other livelihoods, other economic activities.
40:36 [MERIEM GRAY] So this is cleaning up our power systems.
40:39 What next?
40:40 [STEPHANE HALLEGATTE] So, as we go towards
40:42 zero carbon electricity,
40:44 we have to use much more of this electricity.
40:46 So, it's using electric buses,
40:49 electric cars to move around,
40:50 using heat pumps to heat our homes
40:53 and also cooking with electricity, for instance.
40:56 And when we can't use electricity, like for heavy industries,
40:59 we have to find other carbon free fuels,
41:02 like hydrogen that we produce with renewable energy.
41:04 And by the way, this would go a long way
41:06 solving air pollution challenges that we face today.
41:10 We're doing it. We're doing it.
41:12 We're going in that direction.
41:13 But it would be much easier
41:15 if we're very efficient in how we use energy.
41:17 And that's the fourth thing we have to do.
41:19 We have to have our buildings well insulated.
41:22 We have to use public transit more than individual cars.
41:25 And our industries have to be more efficient.
41:27 And if we do that, it's also good for development
41:30 because it's paying less for energy.
41:31 It's more productivity.
41:33 It's more jobs.
41:34 [MERIEM GRAY] Thank you. Thank you, Stephane.
41:36 Please stand by.
41:38 Now, let's start our journey around the world
41:40 and take a closer look at what the energy transition
41:44 looks like in three very different countries.
41:52 [Upbeat Music]
41:53 [CLIMATE JOURNEY, INDIA]
41:55 [NEW DELHI 28.6139°N, 77.2090°E]
41:57 [CARS HONKING]
42:01 [CARS MOVING]
42:02 [YAMINI AIYAR, PRESIDENT & CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
42:04 India is rapidly urbanizing.
42:07 Urban India is at the heart of a growing India,
42:11 but this throws up very important questions
42:13 about the kind of energy choices we are making.
42:16 There are crucial decisions that India needs to take
42:18 over this next decade
42:20 that will lock us in-- into energy transition.
42:24 For India to be able to build
42:27 a low carbon industrial revolution, it needs international support.
42:32 And this support is not just technological support,
42:36 but also financial cooperation to enable India to build
42:41 the institutional capacity, the technical capacity
42:44 and the public support for the transitions it needs to take.
42:49 [Upbeat Music]
42:51 We are standing here today, right in front of a metro station.
42:54 This metro station is largely supported through renewable energy.
42:58 So it's about the kind of energy that you are deploying.
43:01 But it's also about how the transportation systems
43:05 are located in ways that ensure that the bulk of people use them.
43:10 So we exit our cars and enter the public transportation system.
43:15 [Upbeat Music]
43:18 Climate change is a huge challenge,
43:21 but it is also a significant opportunity
43:24 to rethink what it means to build an economic growth trajectory
43:29 that is sustainable, that is long term,
43:31 that is inclusive.
43:33 This is a domestic challenge and a global challenge
43:36 and a time for the international community
43:38 to come together.
43:40 [Upbeat Music]
43:52 [CLIMATE JOURNEY, KENYA]
43:54 [KILIFI 3.5107°s, 39.9093°E]
43:56 [Large parts of Kenya are not connected to the national grid]
44:01 [Off-grid renewable energy companies are springing up to fill the gap]
44:05 [John Masha Ngowa used to live without electricity]
44:11 [JOHN MASHA NGOWA]
44:12 I am a barber and I have a shop in my home area, Tezo
44:19 [DOOR OPENING]
44:21 The advert showed there was solar lighting
44:24 I opted to pick it since we didn't have an electricity connection
44:28 in our home and shop.
44:30 [As part of his energy package, John's provider gave him a free razor]
44:34 They have a good shaving machine that I am able to use
44:37 hence I settled on the solar energy.
44:40 [RADIO MUSIC PLAYING]
44:45 [RAZOR TURNING ON]
44:48 I have used solar energy to charge the shaving machine
44:55 It has helped me get the machine and get a job
45:01 [RAZOR SHAVING]
45:03 It has made work easy.
45:05 First, I used to take up a lot of time shaving
45:08 and my clients would sometimes get injured
45:11 and the end cut wouldn't look as good.
45:14 [BIRDS FLYING]
45:15 It has also helped me increase my hours of operation
45:20 since I am able to work till late into the night.
45:33 [CLIMATE JOURNEY, POLAND]
45:34 [KONIN 52.2230°N, 18.2511°N]
45:36 [The future of workers at Poland's oldest brown-coal-fired plant is uncertain.]
45:41 [As part of the green transition, its coal fired units will be decommissioned or converted.]
45:45 [Workers and local communities hope it will be just and provide new opportunities.]
45:50 [ALICJA MESSERSZMIDT, PRESIDENT, KEDRA PAK KWB KNIN MINE TRADE UNION]
45:51 Energy transition will affect the lignite industry,
45:56 particularly employees of the ZE PAK Group,
46:00 which employs 4000 people.
46:04 For the transition to be just and effective,
46:08 we need to ensure employment for workers.
46:12 Creating new jobs, reskilling.
46:17 [ALICJA MESSERSZMIDT, PRESIDENT KEDRA PAK KWB KNIN MINE TRADE UNION]
46:21 [Upbeat Music]
46:25 A date of exiting coal should be announced
46:30 as well as the costs of the transition
46:35 for the local community provided.
46:42 [PEOPLE TALKING]
46:45 Co-operation with local governments, trade unions, employers,
46:50 and the local community is hugely important.
46:58 [WOMAN] We are reminded of the importance
47:00 that this process is what we called just.
47:02 [ALICJA MESSERSZMIDT]
47:04 We see that the climate is changing global warming is getting worse.
47:08 We need to do everything to ensure that we live
47:13 in a clean and calm environment.
47:16 As a Polish person, I call on the world:
47:20 let us take care of the planet, but also take care of the people.
47:24 Then the transition will be efficient,
47:27 just, and most importantly, it will have a human face.
47:31 [GUITAR STRUM]
47:35 [ANNUAL MEETINGS 2021, WASHINGTON DC]
47:38 [MERIEM GRAY] Indeed, a message from Poland to the world
47:41 is that this transition is about bringing people
47:44 and communities alone,
47:46 and we will be continuing our journey
47:48 to Jordan, Niger, Uganda in just a few moments.
47:51 If you have just joined us, I'm Meriem Gray,
47:54 and we are discussing how to-- we can make climate action count.
47:58 Remember, you can share your thoughts at any point
48:01 using #VOICESFORCLIMATE.
48:04 Our senior climate change adviser, Stephane Hallegatte joins me again.
48:09 Stephane, obviously, energy is a critical part of it,
48:12 but that's not the only system which requires transformation.
48:15 So what else is mission critical?
48:17 [STEPHANE HALLEGATTE] So it might sound a bit obvious,
48:19 but to bring emissions to zero, we need
48:21 all sorts of emissions to go to zero.
48:23 So energy is really important,
48:25 but another one that's really critical is food and land use.
48:28 And this is really important
48:29 because a lot of people in poverty are farmers.
48:32 But also because the world population is growing
48:35 and we need to provide foods to this population.
48:38 And this food needs to be good and nutritious, but also affordable.
48:41 A lot of poor people are spending more than half of their income on food,
48:44 so they are very sensitive to increase in food prices.
48:48 But we have to do that
48:50 while preserving forests and ecosystem.
48:53 We want to preserve them
48:54 because we want to protect biodiversity
48:56 because they are some of the most beautiful places on Earth,
48:59 but also because those ecosystems take carbon out of the atmosphere
49:04 and help us meet our goals in terms of climate change.
49:06 [MERIEM GRAY] So...
49:08 let's take a look at the data again.
49:11 So, here we have a graph that we saw earlier,
49:15 showing how energy contributes to global emissions.
49:18 Now, let's add a line for agriculture.
49:21 Look at this.
49:22 It's almost as much as manufacturing.
49:25 And also let's add a line to show the contribution of land use.
49:29 [FOOD, LAND USE & CLIMATE CHANGE, GREENHOUSE GAS EMISSIONS BY SECTOR]
49:31 So, Stephane, if you look at this,
49:34 what can be done to reduce
49:36 these emissions from food and land use?
49:38 [STEPHANE HALLEGATTE] So first,
49:40 you really have to look at those two lines together
49:42 because those problems are very closely connected.
49:44 And again, there will be no magical solution.
49:47 But we know what needs to happen.
49:49 And the first thing that needs to happen
49:51 is that we need to protect the forest and ecosystem,
49:54 as I said.
49:55 And if possible, also let them regrow,
49:57 because that is capturing carbon from the atmosphere.
50:00 But if we do only that, the risk is to increase with prices.
50:04 And so, in parallel, the second thing
50:06 we have to do is to increase agricultural productivity
50:09 and to do that, we need to change agricultural practices
50:12 to make them more efficient and more sustainable.
50:15 For instance, we have to grow the right crops,
50:17 in the right places, in the right climate,
50:19 and we have to use entrance, and water in a very efficient way,
50:23 adapted to the local conditions.
50:24 [MERIEM GRAY] So what you're saying
50:26 is that we need a combination of more productive agriculture
50:29 and protecting ecosystems that can help us deal
50:33 with food security issues
50:34 and biodiversity and climate protection.
50:37 [STEPHANE HALLEGATTE] Yes, and like always,
50:39 efficiency will be critical.
50:41 So the third thing is not to waste food.
50:44 We have all been told as kids that we should not waste food.
50:47 It's true, but it's also true to protect the climate.
50:50 And today we're really losing too much of the food we produce.
50:52 The fourth thing we need to do is to use
50:54 water very carefully and also to protect the ecosystems
50:58 that are contributing to maintaining the quality
51:01 of that water that we consume.
51:03 And the last thing, the fifth thing and it's again a good news
51:06 is healthier diets can not only make us live longer and healthier
51:11 but also reduce the impact of agriculture on the climate.
51:14 So it's those LCO diets are also good for the environment.
51:17 [MERIEM GRAY] Thank you Stephane, please stand by.
51:20 Let's go back to our journey around the world.
51:23 This time we asked three people to share
51:26 their solutions for agriculture, land use and water.
51:34 [Upbeat Music]
51:36 [CLIMATE JOURNEY, JORDAN]
51:38 [AMMAN 31.9539°N, 35.9106°E]
51:41 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
51:43 Our beautiful country is very rich in many resources.
51:48 But Jordan is ranked as the second or third poorest country
51:53 in terms of border resources.
51:55 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
52:00 [WATER POURING]
52:02 We have enough water for two million people
52:05 but currently the population is in excess of ten million.
52:10 In terms of climate change, Jordan used to receive
52:13 about five to eight billion cubic meters of rainfall,
52:17 but we currently receive about three billion.
52:19 And as a result of high temperature is 90% of that water evaporates.
52:24 The most important example of this is the beautiful Dead Sea,
52:30 the level of water is shrinking by about half a meter per year.
52:34 There are a lot of solutions that the government
52:36 is currently working on.
52:39 Jordan is a real success story when it comes to renewables.
52:42 Ten years ago, several kilowatts of renewable energy were produced.
52:48 Today, we are talking about in excess 3000 megawatts
52:52 from solar and wind that provides clean, green and cheap energy.
52:58 You can use renewables to reduce the CO2 emissions
53:02 and to reduce the cost of piping and pumping water projects.
53:07 I think we're on the right track and my hopes
53:10 are that we move in high gear
53:12 and we move very quickly on implementing water solutions.
53:17 [WATER RUNNING]
53:25 [CLIMATE JOURNEY, NIGER]
53:26 [NIAMEY 13.5116°N, 2.1254°E]
53:27 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
53:30 We are witnessing repeated flooding
53:34 So in India repetitive effective.
53:37 [GRINDING SEEDS]
53:40 [CHILD TALKING]
53:41 [WATER RUNNING, WIND BLOWING]
53:44 There is also a proliferation of climate-induced disease.
53:50 We are seeing cases of cholera,
53:52 cases of meningitis that are coming back.
53:55 Currently, there are many hazards that affect
54:00 both, communities and their ability to produce food.
54:05 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
54:10 [PEOPLE SHOVELING]
54:13 [PACRC]
54:14 [Helps the Niger government build resilience
54:16 to climate change in rural communities.]
54:23 [ZAÏ] [These planting pits help retain water and allow local farmers to sow crops in bare lands.]
54:26 We have improved the resilience
54:28 of agro-sylvo-pastoral systems.
54:32 We have used a combination of measures for sustainable land and water management.
54:37 These actions have helped to increase productivity and increase incomes,
54:44 food security, agricultural inputs and livestock feed.
54:49 Then there is the replenishment of stocks from local markets,
54:54 to energy, to basic necessities,
54:59 which are manufactured locally.
55:02 We need to see a scaling up of the successes
55:09 and the new avenues opened up by this project.
55:24 [Upbeat Music]
55:26 [CLIMATE JOURNEY, UGANDA]
55:28 [KYEGEGWA, 0.4818°N, 31.0550°E]
55:32 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
55:34 Ever since I started to work, we've been having a challenge of droughts
55:40 Ninety nine percent of the farmers in Kyegegwa, they depend on agriculture.
55:45 Climate changes impacted on them.
55:48 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
55:52 [Annet promotes farmer-led irrigation.]
55:56 [It helps them adapt to droughts & unpredictable rainy seasons.]
56:05 The farmer makes the decision on what he wants.
56:09 These are essential farmers.
56:11 These are farmers who will need irrigation.
56:14 We want to shift from subsistence to commercial.
56:17 It is really looking at the farmer who has been struggling,
56:22 And if the government just push a little,
56:25 this farmer can be somewhere.
56:28 [Upbeat Music]
56:31 So we set up this demonstration garden
56:34 to show farmers different technologies.
56:36 [Upbeat Music]
56:40 So a farmer would move from sprinkler to drip.
56:43 And he sees how the irrigation technology is.
56:45 Then it goes to drag hose.
56:47 So then the farmer knows what he wants.
56:50 [Upbeat Music]
56:55 But we faced a challenge.
56:57 We were hit by a huge storm.
56:59 We are trying to plan again, how we can come up again.
57:03 [Upbeat Music]
57:06 But we are not going to give up.
57:08 We are going to support, we are going to move together
57:11 and we make sure that our farmers come and learn.
57:15 [Upbeat Music]
57:17 Some had lost hope.
57:19 But now they are gaining back with the project.
57:23 [Upbeat Music]
57:32 [WOMAN] Hello, xin chào.
57:34 I'm here in Hanoi, Vietnam, and you're watching
57:36 the World Bank Group-IMF Annual Meetings.
57:41 [MERIEM GRAY] In this last video, Annet Nakidde
57:44 makes a great point about water scarcity.
57:47 This is a sector that is particularly prone
57:50 to climate change impacts.
57:51 Stephane, let's talk about how communities
57:54 can strengthen their resilience.
57:56 [STEPHANE HALLEGATTE] So all communities,
57:59 all countries will be affected by climate change.
58:01 And we already see some of those impacts,
58:03 so they all need to be better prepared.
58:05 What do we need to do? So the first thing,
58:07 as we discussed before,
58:08 poverty is a big driver of vulnerability.
58:12 So reducing poverty, taking people out of extreme poverty
58:15 is really a big priority, but it won't be enough.
58:18 We also need to do more.
58:19 So the second thing is to help people and firms adapt
58:23 because people and firms they want to adapt.
58:25 Nobody likes to be flooded or to lose income,
58:28 but they face obstacles.
58:30 Sometimes they lack the information,
58:32 sometimes technologies,
58:33 sometimes they don't have access to financing.
58:35 We have to tackle those obstacles to let people and firms adapt.
58:39 And because we have to acknowledge
58:41 that there will always be disasters, there will always be impact.
58:45 We have also to provide people and firms
58:47 tools to recover when they are affected.
58:50 So it will be adaptive social protection
58:52 to help populations or like insurance
58:55 or access to borrowing for firms.
58:57 The third thing is a responsibility of governments,
59:00 including local governments,
59:02 and it's our infrastructure, our cities,
59:05 the way we use land.
59:07 Today, we have no excuse.
59:08 We should not build any building
59:10 or any piece of infrastructure
59:12 that is not adapted to the climate and risk of today,
59:15 but also the climate and the risk of tomorrow.
59:18 So this is a really important part of the equation.
59:20 And finally, the fourth point is
59:22 to tackle the macro economic impact
59:24 of those climate change consequences.
59:28 Governments can do a lot, for instance,
59:31 by diversifying their economy.
59:33 Also diversifying the tax base so that when there is a shock,
59:36 they have the resources to cope and recover.
59:39 [MERIEM GRAY] Right? Absolutely.
59:40 In fact, our next guest actually spoke about adaptation
59:45 and shared his hope for what he would like to see on this front.
59:47 Let's take a listen.
59:52 [PROFESSOR SALEEMUL HUQ] The recent 6th Assessment Report
59:54 Working Group I
59:55 of the Intergovernmental Panel on Climate Change
59:57 has very clearly stated that we have now entered unequivocally
01:00:01 into a climate changed world
01:00:04 because of the temperature increase
01:00:06 over one degree centigrade
01:00:07 compared to preindustrial times.
01:00:09 Therefore, we have now entered
01:00:12 the era of loss and damage from climate change.
01:00:15 What we want to see from our leaders going up to COP26,
01:00:19 and every single day, not just once a year,
01:00:22 is actions commensurated
01:00:24 with the crisis and emergency we are in.
01:00:26 There is nowhere near enough action
01:00:29 at the scale that is required.
01:00:31 All our leaders need to take it seriously,
01:00:33 need to take actions immediately,
01:00:35 and not just the political leaders,
01:00:38 but leaders of companies,
01:00:39 leaders of cities, towns, villages,
01:00:42 and every single citizen on the planet
01:00:44 now needs to take climate change seriously,
01:00:47 as the emergency that it is.
01:00:50 And now we need action every single day,
01:00:52 everywhere in the world, from everyone.
01:01:06 [MERIEM GRAY] That's a great message
01:01:07 from Salim Hack,
01:01:08 and it really begs the question,
01:01:10 how can countries afford to do all this?
01:01:12 Many of these investments, after all,
01:01:14 need to happen in countries
01:01:16 which are among the world's poorest
01:01:18 and certainly all countries have been affected by COVID-19.
01:01:21 So how these transitions are going
01:01:23 to be financed, Stephane?
01:01:25 [STEPHANE HALLEGATTE] So those investments
01:01:27 over the long term, they will pay for themselves.
01:01:30 When we spend $1 in the resilience of infrastructure,
01:01:34 we avoid $4 in losses later on.
01:01:36 When you pay for a solar panel,
01:01:38 you don't have to pay for the fuel.
01:01:39 So over the long run,
01:01:41 it might be easy.
01:01:43 But the problem is, of course,
01:01:45 that you have to invest to start with.
01:01:47 And this upfront costs, very high upfront cost,
01:01:50 is really the challenge we have.
01:01:51 So this is, before everything, a financing challenge.
01:01:56 And yes, we're talking about trillions.
01:01:58 So it's impressive,
01:01:59 but we have to keep in mind, we're already investing
01:02:02 trillions of dollars every year.
01:02:03 So the question is not so much investing more.
01:02:05 It's making sure we invest better.
01:02:07 That we invest in projects
01:02:09 which are not only good projects and profitable projects,
01:02:12 but also projects that are resilient
01:02:14 and sustainable. This is a challenge.
01:02:16 [MERIEM GRAY] How are we going to make it happen?
01:02:18 [STEPHANE HALLEGATTE] So the first thing
01:02:19 is the set of policies,
01:02:21 prices, regulations that you have in an economy.
01:02:24 So we've been discussing
01:02:26 about the regulation of the financial sector, for instance.
01:02:28 We have been discussing about fossil fuel subsidies
01:02:31 and how they bring investments into fossil fuels.
01:02:35 All of those signals need to change
01:02:37 to make sure all investments,
01:02:39 domestic and international,
01:02:41 public and private,
01:02:42 are going to the right projects,
01:02:44 which are projects driving us toward net zero.
01:02:47 And the longterm signal
01:02:49 when countries commit to achieve net zero
01:02:52 in 2050 or 2060 are also very important
01:02:54 because they help drive and redo investments
01:02:57 and other investments.
01:02:58 But this won't be enough.
01:03:00 For poor countries, especially affected by COVID,
01:03:03 they will need help.
01:03:04 And climate finance,
01:03:06 the resources that rich countries
01:03:08 can bring to help them
01:03:09 will play a critical role to pay that upfront costs.
01:03:12 And there are also specific instruments.
01:03:14 For instance, green technologies
01:03:16 tend to be considered more risky
01:03:18 than traditional ones.
01:03:19 So we can create specific instruments
01:03:22 with guarantees or other de-risking tools
01:03:24 to attract the private sector,
01:03:26 and make sure they also invest in those technologies.
01:03:28 And finally, public finance will play a key role.
01:03:31 And that's especially for the most basic infrastructure,
01:03:34 and also to help the poorest communities,
01:03:36 which will always struggle to attract private investors.
01:03:40 [MERIEM GRAY] Right. So we actually asked Alan Jope,
01:03:43 the CEO of Unilever,
01:03:44 and Chris Sacca,
01:03:46 founder and chairman of Lowercarbon Capital,
01:03:49 for their thoughts on how the private sector sees
01:03:52 the climate challenge.
01:03:57 [ALAN JOPE] Good afternoon,
01:03:58 and thank you for the opportunity to speak
01:04:00 about the role of the private sector
01:04:02 in turning ambition into reality.
01:04:06 Climate change in its impacts matter to business.
01:04:09 In addition to the tragic human and social costs,
01:04:13 we are seeing all over the world how systemic shocks
01:04:16 are disrupting value chains
01:04:18 and acting as a downward pressure on global growth.
01:04:22 Yet here we are still careering towards
01:04:25 a world that is three degrees warmer.
01:04:27 So looking to COP26 and beyond,
01:04:30 the world must deliver a global response
01:04:33 that matches the scale of the climate challenge.
01:04:36 Of course, governments must commit
01:04:38 to credible national plans
01:04:39 that keep the Paris agreements,
01:04:41 1.5°C limit within reach.
01:04:44 And business must also do our part
01:04:47 to deliver that ambition.
01:04:50 At Unilever,
01:04:51 successful climate action starts
01:04:53 with getting our own house in order.
01:04:55 For example, our operations around the world
01:04:57 are now powered by 100% renewable grid electricity,
01:05:01 and our CO2 emissions are down
01:05:04 by 75% per ton of production
01:05:06 versus our 2008 baseline.
01:05:09 We're also investing in natural climate solutions
01:05:12 to address both the climate and nature emergencies together.
01:05:16 In fact, we're finding that delivering our climate goals
01:05:19 also lowers operational costs
01:05:22 and increases the resilience of our value chain.
01:05:26 But no business can tackle climate change alone.
01:05:29 And most emissions in a value chain
01:05:32 usually come from outside a company's direct operations.
01:05:35 And that's why during New York Climate Week,
01:05:38 we launched the Unilever Climate Promise.
01:05:40 That's an invitation to our suppliers
01:05:43 to join us in delivering
01:05:46 our ambitious climate transition action plan goals.
01:05:49 And through such value chain and sectoral approaches,
01:05:53 we believe that we can scale the private sectors actions
01:05:57 for more impact.
01:05:59 The business case for climate action is clear,
01:06:02 and the role of the private sector
01:06:04 in the low carbon transition
01:06:06 is going to be crucial.
01:06:07 And on that note,
01:06:08 thank you again for letting me share my thoughts
01:06:11 on this very important topic.
01:06:17 [CHRIS SACCA] I'm Chris Sacca,
01:06:18 founder of Lowercarbon Capital.
01:06:20 We're one of the world's most active backers
01:06:22 of companies and organizations
01:06:23 working to solve the climate crisis.
01:06:25 And I'm here with some good news: it's gonna work.
01:06:28 The global economy will be decarbonized.
01:06:30 Why? Well, I mean, it's selfinterest.
01:06:33 Compare traditional energy source,
01:06:35 digging up in burning old dinosaur bones,
01:06:37 to these days when it's just plain cheaper and safer
01:06:39 to power our economy with the sun.
01:06:41 And we're seeing this play out
01:06:43 across energy, agriculture and transport.
01:06:46 I mean, you name it.
01:06:47 But just getting to zero emissions is not enough.
01:06:50 The latest IPCC report is clear.
01:06:52 We also need to suck carbon pollution
01:06:54 back out of the atmosphere.
01:06:55 That's gonna take a lot of time and money,
01:06:57 and it's a great space for government to be helpful.
01:06:59 Because overall, we don't get to choose one or the other.
01:07:03 We have to both reduce emissions and capture carbon.
01:07:06 And if we do, Earth will come back into balance.
01:07:09 But here's the problem.
01:07:11 None of that can possibly happen big enough and fast enough
01:07:14 to avoid disaster.
01:07:16 Now, look, I'm a professional optimist,
01:07:18 but anyone who's telling you we can get all this done
01:07:20 by 2030 is just out of touch with reality.
01:07:23 So we need to buy the planet some time.
01:07:26 How?
01:07:27 Well, there's some science we can all fund today,
01:07:29 and cheaply and quickly,
01:07:31 that'll have a massive impact.
01:07:32 And that science is sunlight reflection.
01:07:35 And it's really our only shot of staving off tragedy
01:07:38 until the clean economy and carbon removal can catch up.
01:07:41 Because hanging in the balance are the lives
01:07:43 of hundreds of millions of the world's most vulnerable people.
01:07:47 Now, many of us here are able
01:07:49 to escape the drought and the famine
01:07:51 and the war that result from the climate crisis.
01:07:53 And that is the ultimate privilege.
01:07:56 But with that privilege comes the moral responsibility
01:07:59 for all of us to help others who aren't as lucky.
01:08:02 Yes, we must keep reducing emissions
01:08:04 and pulling carbon out of the sky. That'll work.
01:08:06 But in the meantime,
01:08:07 sunlight reflection research can save millions of lives.
01:08:11 And let's start by backing the scientists
01:08:13 based in the countries where the local people are most at risk.
01:08:17 We owe it to them.
01:08:19 And we owe it to each other.
01:08:31 [MERIEM GRAY] We've already heard from Vietnam, India,
01:08:34 Kenya, Poland, Nicer, Uganda and Jordan.
01:08:37 Last we are taking you to Brazil and Cameron.
01:08:55 [ROSANE SANTOS] In Brazil, we see that issues like
01:08:57 scarcity of drinking water,
01:08:58 unprecedented floods and droughts,
01:09:01 rising sea levels and food insecurity are increasing.
01:09:04 In northeastern Brazil,
01:09:06 arid and semiarid areas are already impacted
01:09:10 and will suffer or even more
01:09:12 with the reduction of water resources available
01:09:14 for daily activities.
01:09:22 What is critical for us to succeed in this challenge
01:09:25 is to understand that it affects all of us.
01:09:28 The solution also needs to be collective.
01:09:31 Companies, governments and civil society in general
01:09:35 must understand the need
01:09:37 to be more serious about climate change
01:09:39 as our existence depends on it.
01:09:47 We need to work together as a team
01:09:49 to raise awareness and have a successful climate action.
01:09:58 One of the paths we need to accelerate is
01:10:01 putting climate change at the forefront
01:10:04 for the business agenda.
01:10:06 In the case of the sanitation companies,
01:10:08 it is crucial that, they together with other industries,
01:10:12 understand the importance of climate change
01:10:15 and water scarcity.
01:10:18 We must understand the connection
01:10:20 between business and nature and by extension,
01:10:22 between sustainable development
01:10:25 and environmental preservation
01:10:29 and how a low carbon economy
01:10:30 can still generate wealth, security and prosperity for all.
01:10:49 [ARMELLE SIDJE TAMO] In 2013, we want to see
01:10:52 45% of reduction of greenhouse gases,
01:10:55 and also the reduction of global warming by 1.5°C.
01:11:00 To reach those goals,
01:11:01 the first thing is to have a better collaboration
01:11:04 between the different limit actions.
01:11:06 You know, alone, we can go really quickly,
01:11:11 but together we can go really fast.
01:11:14 The second thing is to promote protection and actions.
01:11:18 For example, [inaudible] people
01:11:20 in their today climate actions
01:11:23 on their children tomorrow life.
01:11:26 We should encourage and invest
01:11:29 in circular economy, which is really important,
01:11:32 and also in sustainable solution. in circular economy, which is really important,
01:11:32 and also in sustainable solution.
01:11:34 For example, here in Cameroon,
01:11:36 we have a great solution that promote banana production
01:11:40 which stems into biodegrable packaging.
01:11:42 You know, this kind of suitable limit actions
01:11:48 will reduce deforestation and, on our way,
01:11:52 empowering [inaudible]
01:11:54 Thank you.
01:12:05 [MERIEM GRAY] Really exciting to see so much potential
01:12:08 to drive a new climate economy.
01:12:11 Turning our attention back
01:12:12 to the big climate moment that is coming up in two weeks,
01:12:16 we asked Alok Sharma, the COP26 President,
01:12:19 for his vision for success
01:12:21 and what he would like to see happen.
01:12:27 [ALOK SHARMA] In a matter of days,
01:12:29 the word will meet in Glasgow for COP26
01:12:32 This will be the most important
01:12:33 UN Climate Conference has been for years.
01:12:36 And the reason it is so important
01:12:39 is that time is running out
01:12:41 to limit the rise in global temperatures to 1.5°C,
01:12:44 as the world committed to do in the Paris agreement,
01:12:47 which said we would limit temperature rises
01:12:49 to well below 2°C,
01:12:50 aiming for 1.5°C.
01:12:53 Delivery of this goal requires finance.
01:12:57 So a key focus of the UK's COP26
01:13:00 is to get public and private finance
01:13:02 flowing to climate action.
01:13:04 And absolutely there has been some progress.
01:13:06 Every major MDB is now committed
01:13:09 to putting between 30 and 50% of their lending
01:13:12 towards climate projects.
01:13:14 And we are seeing increase in adaptation finance too.
01:13:18 With World Bank and the African Development Bank
01:13:21 committing to a balance
01:13:23 between adaptation and mitigation lending.
01:13:26 Development banks are coming up with new ways
01:13:29 of retiring and replacing coal, ensuring a just transition.
01:13:33 Almost every MDB has committed
01:13:35 to align their financing with the Paris Agreement by 2025
01:13:39 or indeed earlier, with some already there.
01:13:42 And the IMF's historic SDR allocation
01:13:45 has given countries more funds
01:13:47 to support green recoveries worldwide.
01:13:50 As I said, we have seen progress,
01:13:53 but there is much further to go,
01:13:56 particularly in using public funds
01:13:59 to mobilize private finance
01:14:01 at greater scale than ever before.
01:14:04 This, my friends, is urgent.
01:14:06 So I ask all MDB, governments
01:14:08 and private institutions here today
01:14:10 to come to COP26 with a plan of action to invest more,
01:14:15 to mobilize more and to finance more
01:14:18 in order to deliver the critical action
01:14:20 that we need in this decisive decade for climate.
01:14:23 Thank you.
01:14:35 [MERIEM GRAY] A big thank you to Alok Sharma
01:14:37 for the look ahead.
01:14:38 And if you want to learn more
01:14:40 about the WorldBank Group's work
01:14:42 on climate in the run up of COP26, about the WorldBank Group's work
01:14:42 on climate in the run up of COP26,
01:14:45 take a look at the resources section on World Bank Live site.
01:14:50 I'm joined again by my colleague Sri Sridhar.
01:14:53 Hi, Sri. So you've been looking and
01:14:56 monitoring social media.
01:14:57 So what this stood out for you?
01:14:59 [SRI SRIDHAR] Thanks, Maria. Yes.
01:15:01 So today people have been using the hashtag #voices4climate
01:15:03 and they've been commenting from all over the world,
01:15:06 including Venezuela, Saudi Arabia.
01:15:08 India, the United Kingdom,
01:15:10 Mexico, Uganda, Jordan, Germany and also the United States.
01:15:14 But what are they talking about?
01:15:16 So they're talking about how climate impacts
01:15:18 are already happening where they live.
01:15:20 But they're also talking about possible solutions.
01:15:23 And have projects to lower carbon emissions,
01:15:25 and also come climate change. And have projects to lower carbon emissions,
01:15:25 and also come climate change.
01:15:27 Now we've also been monitoring
01:15:28 the conversation across
01:15:29 our different social media platforms.
01:15:31 So let me give you a flavor
01:15:32 of what people are saying there on LinkedIn.
01:15:35 We have Scott Andrew Campbell, who says
01:15:37 that he believes climate action
01:15:38 is the most important approach
01:15:40 for creating a resilient recovery
01:15:42 and that failure to act will only increase the severity
01:15:45 of extreme weather systems,
01:15:47 which cost billions in relief aid
01:15:49 that could be spent making people's lives better.
01:15:52 On Facebook.
01:15:53 Rasopilo says that the climate crisis in Madagascar
01:15:56 is mostly the effect of bush fires,
01:15:59 and that the only solution
01:16:01 is sustainable agriculture and reforestation.
01:16:04 Finally, to round things out on Instagram,
01:16:06 Stacy Mwende says that greenhouse gas emissions
01:16:10 will start to go down anytime industries start to take action.
01:16:14 And I think her comment here
01:16:16 is really a great segway
01:16:18 into talking about our quiz today, right?
01:16:19 [MERIEM GRAY] I feel like we need
01:16:20 a little bit of a drum bit here.
01:16:22 Yes, I believe you do have results. Right?
01:16:25 [SRI SRIDHAR] I do. So let me tell you about the quiz.
01:16:27 We had 4072 people take today's quiz
01:16:30 and we asked, when do you think emissions will start to go down?
01:16:34 Now the options where have they already started to go down?
01:16:37 will they go down in 2030, in 2050,
01:16:40 or will they never go down now?
01:16:42 Before I reveal the correct answer,
01:16:44 let's see how people individually voted
01:16:46 for each one of these options. let's see how people individually voted
01:16:46 for each one of these options.
01:16:47 Now, with 22.3% people said
01:16:50 that they already have started to go down.
01:16:52 37.4% of folks say that it'll go down in 2030.
01:16:56 24.1% say 2050,
01:16:59 and 16.2% of people think that it will never go down.
01:17:04 Now what is your vote here?
01:17:06 [MERIEM GRAY] I was going with never.
01:17:08 - [SRI SRIDHAR] Never. Yeah. - [MERIEM GRAY] But clearly tricky question.
01:17:11 [SRI SRIDHAR] So the correct answer here is actually
01:17:14 A, they already have started to go down. [SRI SRIDHAR] So the correct answer here is actually
01:17:14 A, they already have started to go down.
01:17:17 And I think it's also important to note
01:17:19 that this is very reflective of this moment in time.
01:17:23 - Right. - [MERIEM GRAY] Okay. Alright. Yeah.
01:17:25 In fact, I think this number is probably reflective
01:17:30 of this downward trend triggered by COVID lockdowns,
01:17:34 and the economy is basically struggling.
01:17:37 But what we need to find really is the way
01:17:41 to reduce emissions that don't hurt
01:17:44 communities and people.
01:17:46 And they're sustainable in the longer term.
01:17:48 - [SRI SRIDHAR] Absolutely. - [MERIEM GRAY] Well, thank you.
01:17:50 - Thank you so much, Sri. - [SRI SRIDHAR] Thanks, Maria.
01:17:53 [MAN] As-Salamu-Alaykum.
01:17:54 I'm [inaudible] from Islamabad, Pakistan,
01:17:56 and you're watching the World Bank-IMF Annual Meetings.
01:18:05 [WOMAN] Hello, I'm [inaudible] in Markham, Papua New Guinea,
01:18:09 and you're watching the World Bank-IMF Annual Meetings.
01:18:16 [MERIEM GRAY] Okay. Now to answer some of the questions
01:18:19 we've been asking,
01:18:20 I'm pleased to welcome Axel Van Trotsenburg,
01:18:22 World Bank managing director for operations
01:18:25 and our senior advisor Stephane Hallegatte.
01:18:29 He's a senior advisor with our climate change group.
01:18:32 So, Axel, my first question to you. Earlier we spoke,
01:18:35 you mentioned that climate and development being connected
01:18:38 and how climate change and development reports
01:18:41 are basically forthcoming.
01:18:42 But the Bank has been connecting these dots
01:18:45 for a very long time.
01:18:46 So how has this been working out in practice?
01:18:49 Well, in practice is that we translate
01:18:52 that into our country programs.
01:18:55 And they have to be really tailor made that into our country programs.
01:18:55 And they have to be really tailor made
01:18:57 to individual country situations.
01:19:00 In the aggregate, to keep that in mind,
01:19:03 we have been scaling up our climate financing
01:19:06 for the last five years over about $83 billion.
01:19:10 We want to go 50% higher in the next five years.
01:19:13 And that translates in challenges,
01:19:17 whether you are in a middle income country
01:19:19 or a low income country.
01:19:21 Take Africa.
01:19:22 Africa is not producing in a major way
01:19:25 greenhouse gas emissions.
01:19:27 They're only responsible for less than 4%
01:19:30 of world emissions, yet they are disproportionately affected.
01:19:34 Look at the Sahel zone.
01:19:36 So you need to have tailormade solutions
01:19:38 for people living in the Sahel zone or in urban areas.
01:19:42 In those are areas, there's this urbanization
01:19:47 with massive emissions.
01:19:49 What can we do by having
01:19:51 more transport smart systems in place?
01:19:54 So what we are seeing is
01:19:56 we are translating that in concrete project
01:19:59 from agriculture to urban, we are translating that in concrete project
01:19:59 from agriculture to urban,
01:20:01 but also to policies,
01:20:02 because sometimes you have the wrong policies.
01:20:05 Take, for example,
01:20:06 fuel subsidies that actually promote a lot of fuel use.
01:20:10 If we can reduce that,
01:20:12 that may have an also very positive effect.
01:20:15 So it is the combination of these
01:20:20 interventions that can make a difference.
01:20:22 Alone, we cannot do it.
01:20:24 Climate change is the ultimate goal,
01:20:27 that this is a global responsibility,
01:20:29 and only globally we will be able to solve it.
01:20:32 Therefore, you have also the so called COP26,
01:20:36 this COP process where you bring the world community together.
01:20:40 We are one part of it from a multilateral part of it.
01:20:43 But you need to work with governments.
01:20:45 You need to work with the private sector.
01:20:47 You need to work with also multilateral organization,
01:20:50 and only to guess we can do it.
01:20:53 [MERIEM GRAY] So my next question for Stephane.
01:20:56 We have great questions coming from the audience.
01:21:01 Let's hear from Fotios Kalantzis,
01:21:03 who send us the video.
01:21:05 Let's take a listen.
01:21:07 [FOTIOS KALANTZIS] I'm Fotios Kalantzis, in Luxembourg.
01:21:09 And my question is, how can we make sure
01:21:12 that the transformation needed to tackle climate change
01:21:15 will not lead to increasing inequalities
01:21:18 within and across countries and sectors?
01:21:22 [MERIEM GRAY] Over to your, Stephane.
01:21:24 [STEPHANE HALLEGATTE] This is a really important question,
01:21:26 but I think we have to start from climate change itself
01:21:28 and the fact that if we don't act,
01:21:31 climate change itself will increase inequalities.
01:21:34 Among countries, we see
01:21:35 that poor countries are more affected,
01:21:37 and also within countries, with people in poverty
01:21:40 being disproportionately affected, too.
01:21:42 So we have to implement policies
01:21:44 to correct this impact on inequalities.
01:21:47 Climate action to reduce emissions
01:21:49 can reduce inequalities or increase them.
01:21:53 It's all a question of how they are designed.
01:21:55 And Axel mentioned the role of fossil fuel subsidies.
01:21:58 If you increase the price of energy,
01:22:00 of course, it will hurt people in poverty. If you increase the price of energy,
01:22:00 of course, it will hurt people in poverty.
01:22:02 But with all of the resources that you save doing that,
01:22:05 or the money you collect with carbon pricing,
01:22:08 you have resources that you can use or the money you collect with carbon pricing,
01:22:08 you have resources that you can use
01:22:09 to protect the poorest or make them better off.
01:22:12 And countries like Indonesia or Jordan have done exactly that.
01:22:16 They improve the incentives to reduce emissions
01:22:19 and they helped people in poverty
01:22:21 so that they reduced inequality.
01:22:23 So if you design them well, you can do both things at once.
01:22:26 [MERIEM GRAY] Thank you, Stephane.
01:22:28 And we actually sent another video question
01:22:31 from Gabriel Babadi.
01:22:32 Let's take a look, Axel
01:22:35 [GABRIEL BABADI] Gabriel Babadi from Chun Chon
01:22:37 in Republic of Korea.
01:22:40 And my question is,
01:22:42 how can this developed countries contribute to climate action?
01:22:49 [MERIEM GRAY] Well, that's over to Axel.
01:22:51 [AXEL VAN TROTSENBURG] I think they can, the least develop
01:22:54 can take action.
01:22:55 And we'll take action.
01:22:56 And particularly think of those countries
01:23:00 that have still not too much electricity.
01:23:03 Often the electrification rates are very low in this.
01:23:07 So how can you have a strategy
01:23:09 that permits more access to electricity,
01:23:12 but to go more on the renewable side,
01:23:15 so you can actually have a win-win situation,
01:23:18 where you actually look at a more renewable strategy
01:23:21 and have also access to electricity.
01:23:24 That's, for example, one example.
01:23:26 The other thing is, I mentioned this early,
01:23:29 is the desertification.
01:23:30 Maybe one has a possibility
01:23:34 to community driven development programs,
01:23:37 particularly involved in women.
01:23:39 And so, how you could actually design projects
01:23:44 that are allowing for sustainable agriculture,
01:23:47 but also protecting forests there? that are allowing for sustainable agriculture,
01:23:47 but also protecting forests there?
01:23:50 So you need there to design
01:23:52 and where people in the communities
01:23:54 can contribute directly to climate.
01:23:57 That's another important lesson.
01:23:59 We need to involve communities.
01:24:02 We need to call everybody involved.
01:24:04 It cannot just be just a government or one actor.
01:24:09 It will need to evolve all.
01:24:11 And that is also the key to success
01:24:14 in Africa, and those are low income countries.
01:24:18 Stephane, our next question is from Nigeria.
01:24:22 So [inaudible] from Nigeria,
01:24:24 asked another, one of the top questions we received.
01:24:27 How will the youth take the driver's seat in this campaign?
01:24:31 Young people are impressively committed to climate action,
01:24:33 but they often feel discouraged
01:24:36 because of the amount of work that needs to be done. but they often feel discouraged
01:24:36 because of the amount of work that needs to be done.
01:24:39 What can we focus on to remain positive?
01:24:42 [STEPHANE HALLEGATTE] Young people today are well informed,
01:24:46 very aware of the climate challenge,
01:24:48 so I don't think they need me or anyone else
01:24:51 to tell them what to do. so I don't think they need me or anyone else
01:24:51 to tell them what to do.
01:24:52 But I want to answer on the discouragement question.
01:24:55 Because that's a little bit
01:24:56 what we try to do with this event
01:24:58 is to show that this change is difficult.
01:25:01 It is ambitious, but it is possible
01:25:03 and we know where to go.
01:25:05 We have a strategy to achieve zero net emissions.
01:25:08 And one of the big obstacles on the way is discouragement.
01:25:12 I was in a high school recently and asking
01:25:15 if they believed we will manage to reduce emissions to zero.
01:25:18 Not one of them in the classroom said yes.
01:25:21 If we don't believe we can do it, we won't do it.
01:25:24 So it's really important to keep in mind
01:25:26 that it is a challenge, but we have solutions.
01:25:28 We have talked about them
01:25:30 and we should be able to do it,
01:25:32 if we get to work and we implement.
01:25:35 And by the way, this is true for climate.
01:25:37 But if you think about poverty or education,
01:25:39 it's also one of our big objectives, But if you think about poverty or education,
01:25:39 it's also one of our big objectives,
01:25:41 and it's the same thing.
01:25:42 If we believe we can do it
01:25:44 and we invest in it and we implement,
01:25:45 we can do it in the next decade.
01:25:48 [MERIEM GRAY] Thank you, Stephane.
01:25:49 Thank you, Axel. Thanks for joining us today.
01:25:51 [AXEL VAN TROTSENBURG] Thank you.
01:25:53 [MERIEM GRAY] We hope you've enjoyed
01:25:55 this journey with us.
01:25:56 We really wanted to bring down different stories,
01:26:00 prospective solutions that are helping us
01:26:02 to tackle the climate crisis.
01:26:04 And there is still a lot to watch back about this event,
01:26:09 as well as previous ones on economic growth
01:26:11 and ending pandemic. as well as previous ones on economic growth
01:26:11 and ending pandemic.
01:26:12 And we'll be back tomorrow
01:26:14 with last public event in these annual meetings
01:26:17 on the role of trade in supporting economic growth.
01:26:20 This is all at live.WorldBank.org.
01:26:24 And to bring us to a close, today we asked
01:26:27 young activists, students and climate Champions
01:26:30 who gathered a few weeks ago
01:26:32 at the Youth Climate Summit
01:26:34 to tell us we what they want to see happen
01:26:36 at COP26 in Glasgow.
01:26:51 - [MAN] Dear leaders. - [MAN] Dear leaders.
01:26:53 - [WOMAN] Dear leaders. - [WOMAN] the world is watching.
01:26:56 [WOMAN] At COP26, I want to see you...
01:26:58 [WOMAN] ...see decision making power
01:27:00 to those with lived experiences of the climate chaos.
01:27:03 [WOMAN] I want you to increase climate finance
01:27:07 for adaptation, for loss and damage and for mitigation.
01:27:10 [WOMAN] I want to see you
01:27:11 provide billions of dollars of grants [WOMAN] I want to see you
01:27:11 provide billions of dollars of grants
01:27:13 to developing countries.
01:27:14 [MAN] I want to see you commit to 1.5°C.
01:27:17 [MAN] To a abolish fossil fuels by 23.
01:27:20 [WOMAN] Bring forward female voices,
01:27:22 [MAN] Create a new normal.
01:27:23 [WOMAN] And just stick to your promises
01:27:25 instead of making new ones.
01:27:26 [WOMAN] I want to see that the perspective
01:27:29 of Indigenous and local communities
01:27:32 is incorporated in the indices.
01:27:35 [MAN] You must adopt the Paris rolbook
01:27:37 and place the most vulnerable in the center of your decisions. [MAN] You must adopt the Paris rolbook
01:27:37 and place the most vulnerable in the center of your decisions.
01:27:39 [MAN] I want to see action, ambition.
01:27:42 [WOMAN] I want you to hear young people's voice
01:27:45 [WOMAN] On how we can create
01:27:46 a more sustainable fute together.
01:27:48 [MAN] Promote social justice.
01:27:51 [WOMAN] It's too late to turn a blind eye.
01:27:54 [WOMAN] We see you. Do you see us?
01:27:56 [MAN] What has been done until now?
01:27:58 [MAN] Please make a decision based on your conscience.
01:28:01 [WOMAN] Set your sights high.
01:28:03 [WOMAN] Show us what real action looks like.
01:28:07 [MAN] The eyes of the world are on COP26.

Making Climate Action Count: Turning Ambition Into Reality

Follow the event on Twitter #VoicesForClimate

Two weeks ahead of a pivotal meeting on climate change (COP26), the Annual Meetings event Making Climate Action Count: Turning Ambition Into Reality brought together global leaders, prominent climate advocates and climate champions from several countries to discuss what the world needs to do to meet the goals of the Paris Agreement. Followed on social media with the hashtag #Voices4Climate, the event also took the audience on a virtual journey around the globe, showing how countries from Vietnam to Brazil are working towards a more sustainable and resilient future.

World Bank Group President David Malpass kicked things off by inviting Colombian President Iván Duque to describe Colombia’s climate goals, followed by a conversation with Mark Carney, the United Nations Special Envoy on Climate Action and Finance, on how to mobilize the trillions of dollars in financing needed to transition to a low-carbon economy. Statements from US Treasury Secretary Janet Yellen, UN Secretary-General Antonio Guterres, His Royal Highness the Prince of Wales, and Gerd Müller, Germany’s Federal Minister for Economic Cooperation and Development, underscored the urgency of global climate action and the protection of the natural world.

Making Climate Action Count also took a deeper dive into the low-carbon transitions needed in energy, food and other sectors, as well as the link between climate and development. World Bank Managing Director of Operations Axel van Trotsenburg and Senior Climate Change Advisor Stephane Hallegatte explained why tackling climate and development challenges together would reduce poverty and pay dividends for people and the planet. Private sector influencers including Unilever CEO Alan Jope and Lowercarbon Capital Chairman Chris Sacca stressed the clear business case for climate action and the crucial role of the private sector in the low-carbon transition.

The event concluded with a look ahead. COP26 President Alok Sharma warned that time is running out to keep the rise in global temperatures to 1.5 °C – the target set out in the Paris Agreement – and called for more public and private finance to fight climate change. In a final video, young activists, students and climate champions urged action at COP26 -- emphasizing that the world is watching the leaders attending COP26.

> Watch the full conversations between David Malpass and Mark Carney, and between David Malpass and Iván Duque

See the list of speakers ˅

281 VOTES / Gabriel Babadi
How can the least developed countries contribute to climate action?

161 VOTES / Ahen Akawe
How will the youth take the driver's seat in this campaign?

151 VOTES / Fotios Kalantzis, EIB
How can we make sure that the structural transformation needed to tackle climate change will not lead to increasing inequalities within and across countries and sectors?

135 VOTES / Muzamal Ali
Why are climate change and poverty inextricably linked?

108 VOTES / Muzamal Ali
How is climate change affecting people?

Resources

Stories & Blogs

Reports

Websites

Videos

Read the transcript

00:00 [Upbeat Music]
00:10 [Annual Meetings 2021]
00:24 [MAKING CLIMATE ACTION COUNT: TURNING AMBITION INTO REALITY]
00:35 [MERIEM GRAY] Hello and welcome everyone.
00:37 We are here to talk all things climate.
00:39 I'm Meriem Gray and I'm live
00:41 in the World Bank Group's headquarters here in Washington, DC.
00:45 Now, in just over two weeks from today,
00:48 COP26 will kick off in Glasgow,
00:50 [MERIEM GRAY, COMMUNICATIONS LEAD, SUSTAINABLE DEVELOPMENT TEAM, WORLD BANK GROUP]
00:51 a major moment which could send
00:52 a decisive signal about how the world will tackle
00:55 the climate crisis.
00:57 While climate change may be a global challenge,
01:00 the battle will be won, or lost, in individual countries.
01:04 The actions they take now and the policies they put in place today
01:08 hold the key to low carbon, resilient growth for the future.
01:12 So today, we are inviting you on a journey
01:15 to see what climate action actually looks like around the world.
01:19 You will be joined by a host of guests
01:21 from real climate solution activists to global leaders,
01:25 and prominent climate advocates.
01:28 [VIRTUAL ANNUAL MEETINGS 2021] [COMING UP]
01:34 [HOW COUNTRIES ARE ACTING ON CLIMATE]
01:36 [IVÁN DUQUE MÁRQUEZ, PRESIDENT OF COLOMBIA]
01:39 [DAVID MALPASS, PRESIDENT, WORLD BANK GROUP]
01:44 [HOW TO ADVANCE CLIMATE AMBITION]
01:46 [JANET YELLEN, US SECRETARY OF THE TREASURY]
01:49 [ANTÓNIO GUTTERES, UNITED NATIONS SECRETARY-GENERAL]
01:54 [NATURE AND CLIMATE ACTION]
01:55 [HRH THE PRINCE OF WALES]
01:59 [HOW TO TACKLE DEVELOPMENT AND CLIMATE TOGETHER]
02:00 [AXEL VAN TROTSENBURG, MANAGING DIRECTOR OF OPERATIONS, WORLD BANK]
02:05 [CLIMATE SOLUTIONS IN ACTION]
02:06 [VIETNAM] [HONG HOANG, FOUNDER AND EXECUTIVE DIRECTOR, CHANGE]
02:08 [INDIA] [YAMINI AIYAR, PRESIDENT AND CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
02:10 [JORDAN] [SAMER JUDAH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
02:13 [FOCUS ON ADAPTATION]
02:15 [PROFESSOR SALEEMUL HUQ, DIRECTOR, INTERNATIONAL CENTRE FOR CLIMATE CHANGE AND DEVELOPMENT, BANGLADESH]
02:18 [FOCUS ON THE PRIVATE SECTOR]
02:19 [CHRIS SACCA, FOUNDER AND CHAIRMAN, LOWERCARBON CAPITAL]
02:21 [ALAN JOPE, CEO, UNILEVER]
02:23 [FOCUS ON COP26]
02:24 [ALOK SHARMA, PRESIDENT, COP26]
02:30 [MERIEM GRAY] We've got so many great guests coming up.
02:33 To kick us off, the President of the World Bank Group,
02:35 David Malpass invited two global leaders
02:38 to share their thoughts on how to make climate action count.
02:41 In this first conversation, he is joined by
02:44 the President of Colombia, Iván Duque
02:46 and in the second, Mark Carney,
02:47 the UN special envoy for climate action and finance.
02:55 [DAVID MALPASS] Thank you, Meriem.
02:56 Welcome everybody to our discussion.
02:59 I'm very pleased to be joined today by President Iván Duque
03:03 to discuss Colombia's approach to climate change.
03:07 Climate change is, of course, a global challenge,
03:10 but the battle will be won or lost in individual countries.
03:15 It's not an equal battle.
03:17 There are advanced economies that have historically emitted
03:20 most of the world's man-made greenhouse gas emissions.
03:24 These countries need to significantly step up every effort
03:28 to reduce greenhouse gas emissions
03:30 and extend support to the rest of the world.
03:34 There are the world's poorest countries, IVDA countries,
03:38 that account for less than a 10th
03:40 of total man-made greenhouse gas emissions
03:43 where we need to see investments in adaptation
03:45 and climate-resilient infrastructure
03:48 and in low-carbon energy at scale.
03:51 And there are countries like Colombia,
03:54 middle-income economies that were hard hit by the crisis.
03:58 As they recover, they also need to think about
04:01 the significant climate-related impacts they face
04:05 and how to contribute to global efforts on mitigation
04:09 while investing heavily in adaptation too.
04:13 President Duque, very glad you could join me today.
04:16 I'd like to welcome you to share your insights into
04:19 how Colombia is thinking about reducing emissions,
04:23 and delivering on adaptation
04:25 and becoming a climate action leader.
04:27 So welcome.
04:29 I know these are very hard efforts.
04:31 I wonder if you'd give us
04:32 a general perspective on Colombia's plans in this area.
04:37 [IVÁN DUQUE] Thank you so much President Malpass.
04:39 It's great to be here with you, David,
04:41 Not only my admiration, but gratitude because we know
04:44 how much you're doing for the countries around the world
04:47 in order to face not only the crisis that has been derived from the pandemic,
04:51 but also how do we recover our economies
04:53 and how do we do it in accordance with the principles
04:56 that we must meet in order to reach
04:59 what we call the highest reduction of CO2 emissions in our history
05:03 and carbon neutrality towards 2050?
05:06 I'll begin by saying that, yes, we're heading to Glasgow,
05:11 and we're heading to Glasgow with a very bold promise and objective
05:16 to be reached.
05:17 The first one is that we want to reduce by 51%
05:21 all of our greenhouse houses emissions by 2030.
05:25 We've also set the goal that we want to reach
05:29 carbon neutrality by 2050.
05:31 Those are the two major goals.
05:32 So yes, we're talking about carbon neutrality,
05:35 but something that is also important, David, is that
05:37 we're talking about nature positive policies,
05:41 carbon-neutral, nature positive policies.
05:44 And by that, we have set the goal of zero deforestation by 2030
05:48 and something that is more important,
05:50 which is to reach the 30 X 30 compromise
05:53 of having the Colombian land or territory to be protected area.
05:59 Considering that those are the major goals,
06:02 the question is, how do we plan to get there?
06:05 First thing to say, energy transition.
06:08 When my administration began,
06:09 we only had 35 megawatts of install capacity
06:13 in non-conventional renewables.
06:15 That was 0.2% of the energy matrix.
06:18 By December 2022,
06:22 we'll have more than 2,000 megawatts of installed capacity in Colombia.
06:26 That means we will pass 14% of the installed capacity,
06:30 and we're heading the road to reach 20% very fast,
06:34 and we even might get higher on that ambitious target
06:39 because we're having a new auction that is going to have projects
06:43 for at least 4,800 megawatts to be installed in the next four years.
06:48 So that's issue number one.
06:51 Issue number two is what we call clean mobility.
06:54 I was the co-author of the bill that passed through Congress
06:57 and that allowed Colombia to have incentives
07:00 so that we can have a replacement in the car fleet around the country.
07:03 And we had a goal to get to 6,000 vehicles before the end of my term,
07:08 and we're reaching this target by the end of this month.
07:11 That means that electric vehicles in Colombia are growing.
07:15 Something that is also very significant,
07:17 we have consolidated the biggest cargo and passenger fleet
07:23 in Latin America and the Caribbean with electric vehicles.
07:26 The third element, circular economy.
07:28 Producing conserving, conserving producing.
07:31 We're getting to zero deforestation agreements
07:33 with multiple sectors in Colombia.
07:36 But we're also encouraging the private sector
07:39 to take a lead in water management, waste management,
07:43 and something that is also aligned with a goal that we have set
07:45 with a One Trillion Trees Initiative,
07:47 help us plan 180 million trees by August 2022.
07:53 The other thing that I should say
07:54 and this is the fourth, very important element is that
07:58 we want to reach that 30 X 30 Initiative,
08:00 30% of the Colombian land being a protected area.
08:03 We're now at 22%.
08:05 We hope to meet that target
08:07 by no longer than August next year.
08:09 I know it is very ambitious, but we have to reach that target,
08:12 not only thinking about the oceans
08:15 but also thinking on on land protected areas.
08:18 And I should also mention something that is very important,
08:20 the protection of the Amazon, the Leticia Pact
08:23 and the compromise that we have
08:25 in order to build nature-based solutions
08:28 and pay for environmental services.
08:30 This five components, David,
08:33 are the cornerstone of the objectives that we have set
08:38 in order to meet the 2050 carbon neutrality nation positive target,
08:42 but also have a 51% reduction on CO2 emissions by 2030.
08:47 [DAVID MALPASS] President Duque, I want to thank you very much
08:49 for joining us today,
08:51 and it sounds like huge challenges,
08:53 and you've got a clear direction
08:55 of where you're going on them.
08:56 I appreciate it. Thanks.
09:02 [DAVID MALPASS] Hello. I'm glad to be back.
09:04 And here joined with Mark Carney.
09:06 [WASHINGTON DC, USA] He doesn't need much introduction,
09:08 [OTTAWA, CANADA] but I'll remind people he was the head
09:10 of two different central banks, Canada and the United Kingdom.
09:13 That's a huge job right there.
09:16 Also head of the Financial Stability Board.
09:18 And for those involved in climate, he needs no introduction.
09:21 He's been hugely involved for years in this issue of
09:25 how do we get enough financing
09:27 to actually have an impact on climate change.
09:30 Mark, thank you for being here.
09:33 I'm interested in that question.
09:35 Where do you think we are currently on the idea of
09:39 the amounts of money needed and how we connect them to projects?
09:42 I have ideas, but I really want to hear
09:46 how you're thinking about that challenge.
09:50 [MARK CARNEY] Absolutely. Thank you, David, for having me.
09:52 I know you're incredibly busy working on these
09:54 and many other issues.
09:55 The first thing to say is scale of the problem
09:57 or scale of the issue,
09:59 which is we need to effectively double spending investment
10:02 on energy infrastructure for decades.
10:06 We're talking an extra two, two and a half trillion dollars
10:10 of investment in energy infrastructure alone.
10:13 And that's before the spending on resilience adaptation,
10:17 hard-to-abate sectors' other aspects.
10:19 About three quarters of that spend will be
10:21 in emerging and developing economies, as you know well.
10:24 So these are big, big numbers approaching 2% of global GDP,
10:29 where's the money going to come from?
10:30 As you know, the bulk from the private sector
10:32 and let me just give you one figure and then hand back
10:35 which is what we've been working on is getting
10:38 the best of the private sector committed to net zero transition,
10:42 big banks, insurers asset, managers asset, owners.
10:45 The number, as we speak today,
10:47 is 90 trillion, nine zero trillion dollars
10:50 of balance sheet committed for that.
10:52 And that's not for some distant date.
10:54 It's near term, five year commitments,
10:57 fair share of the 50% reduction by 2030.
11:01 So now the challenge is, how do we marry that capital,
11:04 that commitment with where it's needed most,
11:07 channel it to those emerging and developing economies.
11:10 [DAVID MALPASS] I just spoke with
11:11 President Iván Duque, the president of Colombia.
11:15 Colombia has an NDC that's interesting.
11:17 It's to reduce by 50% from the baseline.
11:20 So the baseline is for growth in greenhouse gas emissions
11:25 and it's going to be reduced by 50% by 2030.
11:29 So it's a tall order.
11:30 I asked him, how do you finance that?
11:32 And it means a lot of projects.
11:35 Identifying the major emitters within Colombia,
11:39 some of which are land used, for example, in addition to fossil fuels.
11:43 How do you reduce that?
11:45 You can finance it somewhat by securitizing assets
11:49 as they come available, by creating ways to subsidize
11:54 or to add grant money, foundation money, for example,
11:58 to a given project working maybe with the World Bank
12:01 or with the Inter-American Development Bank on a way to do a project.
12:04 So it brings together all the sources of financing
12:08 with the projects that are to be done.
12:13 Can we discuss various new techniques that that can be done through
12:17 with your huge expertise in that?
12:21 [MARK CARNEY] Well, I think the thing and it's very exciting
12:22 [MARK, CARNEY, SPECIAL ENVOY ON CLIMATE ACTION AND FINANCE, UNITED NATIONS]
12:22 [UK PRIME MINISTER JOHNSON'S FINANCE ADVISOR FOR COP26]
12:23 what President Duque and Colombia are doing,
12:26 and I think this goes directly to where we can move the system.
12:30 As you will know, the World Bank has been developing and working hard
12:34 on country platform approaches,
12:36 and I think the opportunity is to extend them and blend in
12:42 that very large scale of money, I was just talking about
12:45 the 90 trillion from geo-fence
12:47 and what we need to have at the heart of it are two things.
12:52 I think one is,
12:53 the appropriate blended finance vehicles at scale.
12:56 So think of the IFC's MCPP is one great example of that.
13:02 There are other examples.
13:03 Those appropriate approaches,
13:05 the right private sector forms of financing,
13:10 CFLI is an example, FAST infrastructure, a new example.
13:14 These are proven methods that the private sectors come together
13:17 for the format for project investing,
13:20 but as well, I think with the imprimatur, if I may,
13:24 of the World Bank and others
13:24 to say that a program such as Colombia's is consistent with
13:29 the transition the world needs that unlocks an opportunity
13:33 for the private sector, which is looking
13:35 for exactly that type of net zero alignment
13:38 but really isn't on its own able to make those determinations
13:42 independently or else, it's subject to Greenwash
13:45 and other concerns.
13:47 Bringing all those elements,
13:49 the best of blended finance of the World Bank and other MDBs,
13:52 the best of private sector platform approaches,
13:54 CFLI, FAST and FROZE two examples,
13:56 there are a few more that geo-fence identified,
13:59 but also connecting them with pure private finance
14:02 that's consistent with the transition,
14:04 such as the one you just discussed in Colombia.
14:08 [DAVID MALPASS] Thanks. That's a great close.
14:09 I want to thank Mark Carney for all the engagement here today.
14:14 Thanks.
14:16 [MARK CARNEY] Great. Thanks, David. Thanks for everything you're doing.
14:19 [Upbeat music]
14:20 [BANGLADESH] Hello. I'm [inaudible speech]
14:22 and you're watching the World Bank Group-IMF Annual Meeting.
14:27 [MERIEM GRAY] Thank you to David and his guests
14:29 for those insights on turning climate ambition into reality.
14:33 And the conversation didn't stop there.
14:35 You can watch both full discussions using the link.
14:38 You should be able to see on your screen right now.
14:40 [LIVE.WORLDBANK.ORG/CLIMATE]
14:41 We are streaming this event in English, Spanish, French, Arabic,
14:45 on World Bank Live and on our social media channels.
14:49 And to tell us a little more about how to get involved,
14:51 I'm joined by my colleague Sri Sridhar.
14:53 Welcome Sri.
14:53 [SRI SRIDHAR] Thanks, Meriem.
14:55 [MERIEM GRAY] Can you please tell us a little more about
14:57 how people can get involved and what else is ahead of us?
15:01 [SRI SRIDHAR] So you mentioned our social media channels
15:03 [HOW TO HAVE YOUR SAY] and we are on Facebook,
15:05 Twitter, and Instagram,
15:06 and you can share your comments at any time using the hashtag
15:09 [SRI SRIDHAR, COMMUNICATIONS OFFICER, WORLD BANK GROUP]
15:10 for today's event, which is Voices for Climate.
15:12 You can also post questions and comments
15:13 directly on live.worldbank.org.
15:17 So a lot of ways for folks to really get engaged
15:20 and join the conversation.
15:22 You did mention that the event is being streamed in
15:23 English, Spanish, French and Arabic.
15:26 And we actually have live expert bloggers standing by
15:29 in all four languages to answer as many questions as possible.
15:32 And the really cool thing is that some of the most popular questions
15:35 that come in have a chance of being asked
15:38 by some of those senior experts later today.
15:42 [MERIEM GRAY] So we will be joined by Axel Van Trotsenburg,
15:44 managing director for operations at the World Bank,
15:47 and Stephane Hallegatte who is our senior advisor
15:49 at the World Bank Group's climate team.
15:54 I also understand we are asking people to take part in the quiz, right?
15:59 [SRI SRIDHAR] Yes. So today's quiz asks,
16:01 when do you think global greenhouse gas emissions
16:03 will start to go down?
16:04 And there are four options.
16:06 Have they already started to go down?
16:08 Will they go down in 2030, 2050 or will they never go down?
16:13 So once more, the quiz today asks,
16:15 when do you think emissions will start to go down?
16:17 They already have started to go down?
16:19 They'll go down in 2030, 2050 or never?
16:22 So to take part in this quiz, head on over to live.worldbank.org
16:26 and get your vote in before the quiz closes.
16:29 [MERIEM GRAY] Thank you so much, Sri.
16:29 We will be coming back to you later for an answer.
16:32 [SRI SRIDHAR] Thanks, Meriem.
16:33 [MERIEM GRAY] Next up, we are going to hear
16:35 from several people about how best to advance
16:38 the climate agenda.
16:39 First from Janet Yellen, Secretary of the United States Treasury.
16:48 [JANET YELLEN] Hi Everyone.
16:49 I'm Janet Yellen, the US Treasury Secretary.
16:53 I want to thank President Malpass
16:55 for the chance to say a few words
16:57 about climate change in the United States role
17:01 in addressing this existential threat.
17:05 As I record this video,
17:07 a host of climate proposals are moving through our Congress.
17:12 The president has proposed dotting
17:16 with 500,000 electric vehicle chargers
17:20 and funding from fundamental R and D in nascent green technologies.
17:26 But we also know that our efforts
17:28 to address climate change cannot stop at the border.
17:32 In July, when many of us met in Venice,
17:35 I outlined the United States' plan to double
17:38 our public international climate finance
17:41 to developing countries by 2024.
17:45 Last month, President Biden went to the UN General Assembly
17:50 and announced that we're doubling that number again.
17:53 The United States has committed 11.4 billion dollars per year,
17:58 including financing for adaptation efforts.
18:02 Indeed, as we approached COP26,
18:06 there's renewed urgency for all nations
18:09 to take the necessary steps toward the global goal
18:13 of keeping warming below one and a half degrees Celsius.
18:18 The multilateral development banks,
18:21 as this Group knows better than anyone,
18:23 play a leading role here.
18:25 They help emerging economies prioritize climate investments
18:30 integrate climate resilience into infrastructure planning,
18:35 protect critical ecosystems,
18:37 an increased climate ambition
18:40 as part of their nationally determined contributions
18:43 and long term strategies.
18:46 The United States is a large shareholder
18:48 in the multilateral development Banks,
18:51 and we're committed to using our position of leadership
18:55 to help facilitate a global transition
18:58 toward net zero emissions by mid-century.
19:02 In fact, I convened a meeting
19:04 of the heads of the multilateral development banks
19:07 over the summer,
19:08 and I asked that each institution develop concrete plans
19:13 to raise their climate ambitions
19:16 and to identify specific ways
19:19 they could each mobilize climate finance
19:22 for developing countries.
19:24 Of course, no amount of public financing alone will be sufficient
19:29 to meet the goals of the Paris Agreement.
19:32 Private capital will be essential to fill the gap.
19:36 As we work to mobilize this capital,
19:39 we must continue to focus
19:41 on addressing the ongoing challenges
19:44 that emerging markets in developing countries face
19:47 and attracting private sector financing,
19:50 especially for greenhouse gas mitigation
19:54 and adaptation infrastructure,
19:57 and to reduce these impediments to investment.
20:01 I look forward to our discussions over the coming week
20:05 and hearing more from you
20:07 on how we can move beyond our ambitions
20:10 to definitive action.
20:16 [GLASGOW 55.8600ºN 4.2854ºW]
20:22 [MERIEM GRAY] Thank you to Madam Secretary
20:24 for that message on the role of multilateral development banks
20:27 in helping emerging economies to meet their climate ambition.
20:31 I know that's something our next guest also feel strongly about.
20:33 Let me welcome Axel van Trotsenburg,
20:35 World Bank's Managing Director of Operations.
20:38 Axel, we know we work a lot on identifying specific ways
20:43 to help developing economies to meet climate targets,
20:46 which really means
20:47 rethinking how develop and climate change intersect.
20:50 How is the bank applying this thinking?
20:53 [AXEL VAN TROTSENBURG] Climate is really affecting all our lives.
20:58 We need to think not in an isolated way about climate,
21:03 There is a problem with pollution
21:06 or there is a problem with weather-related events.
21:12 You need to think more globally.
21:14 What we have been saying is,
21:17 let's look at this comprehensively
21:21 and first, we want to understand the drivers of this v
21:26 but not in isolation, but in relation to development.
21:30 Our latest climate change action plan
21:35 includes the so-called Country Climate and Development Reports.
21:41 [LIVE: WOLRD BANK MANANGING DIRECTOR OF OPERATIONS ON CLIMATE CHANGE AND DEVELOPMENT]
21:42 It's precisely to address climate and development.
21:45 Let's keep this in mind,
21:47 the World Bank has its mission to reduce poverty,
21:50 and we have made great progress.
21:52 But climate change could undo some of this progress.
21:56 In the worst case event, we could see an increase
22:01 in extreme poverty
22:02 throughout this decade by about 130 million people.
22:07 We don't hope that that will happen,
22:09 but it's fairly clearly related that you have climate
22:12 and it can affect people, therefore need to do this.
22:15 So we bring this together
22:16 And then when we're looking at the drivers,
22:19 we like to drivers not only to look at all the sectors
22:25 be it in the agriculture sector,
22:27 forestry sector, what's with the services sector,
22:30 what is also happening in the financial sector,
22:35 but then also how certain policies can affect climate action,
22:40 from fiscal policy to overall economic and sectorial policy.
22:45 So that is how we try to bring this together.
22:49 What's then ultimately important is that
22:51 not only we understand drivers, but that we do something about this.
22:56 And here, the Bank has been scaling up its engagement.
23:01 We had had a very strong last five years
23:05 where we delivered over 83 billion dollars
23:09 in climate-related financing.
23:11 Our intention in the next five years is
23:14 to increase this by 50%.
23:16 So what we are trying is really to scale this up
23:20 and we hope that everybody joins us.
23:23 [MERIEM GRAY] Thank you so much, Axel.
23:24 Thank you.
23:26 Climate change may be a global challenge,
23:28 but every country counts in this fight.
23:30 We asked a climate activist from Vietnam
23:33 to share her thoughts on how we can all play a part.
23:43 [CLIMATE JOURNEY VIETNAM] [MEKONG DELTA 10.0634ºN 105.5943ºE]
23:47 Last year, 2020, we experience the worst drought and salinity
23:52 in the Mekong Delta, the major rice producer of the country.
23:56 Many farmers lost their crops.
23:58 People carrying a lot of water containers
24:01 and standing in super long line waiting to get or buy fresh water.
24:07 [CENTRAL VIETNAM 14.6517ºN 108.4276ºE]
24:10 [Hong Hoang] Last year, people in central Vietnam
24:12 went through record floods and typhoons
24:15 back to back, costing hundreds of human lives
24:18 and huge economic losses.
24:21 There are many more people right now aware that, "oh, it's climate change",
24:26 But most of them would say, "well, there's nothing much
24:29 I can do about it."
24:38 [CHANGE, A NON-PROFIT WORKING WITH YOUNG PEOPLE TO DELIVER CLEAN ENERGY IN VIETNAM]
24:40 Many NGOs, including mine,
24:42 have been working with these amazing young people
24:45 so that they can implement their own projects to address
24:48 their own environmental and climate problems of the province.
24:52 Also, business corporations are seeing more of their responsibilities
24:57 to contribute to a low carbon, sustainable economic growth.
25:01 But I think the best part is when the community,
25:05 especially young people are stepping up everywhere
25:09 and taking the lead of the climate movement in the country.
25:13 My vision for a successful climate action is where the movement is led
25:18 by the community, by the young people
25:21 but is supported by everyone in the society.
25:24 This climate change is too big.
25:26 It's a huge crisis that would require everyone to work together.
25:41 [ANTÓNIO GUTTERES] Excellencies, colleagues,
25:43 as COP26 approaches, it is essential for all humanity
25:47 that will fulfill the promise of the Paris Agreement.
25:50 That means reducing emissions by half by 2030
25:55 and achieving net zero emissions by mid-century,
25:57 so we can limit temperature rise to 1.5 degrees from pre-industrial levels.
26:03 It means providing and exceeding 100 billion US dollars a year
26:07 to developing countries for climate action
26:10 and shifting all financial flows to promote net zero emissions
26:13 and resilient development.
26:16 And it means protecting people from the impacts of climate disruption
26:19 and relocating at least half of all public climate finance to adaptation.
26:25 We are not yet there.
26:27 Despite some recent encouraging announcements,
26:30 I remain especially concerned over the lack of progress
26:33 on public climate finance.
26:36 Let us be very clear,
26:38 100 billion dollars a year from public and private sources
26:41 for mitigation and adaptation for the developing world
26:45 is the bare minimum.
26:46 Much more will be needed,
26:49 and development banks have an essential role to play.
26:52 We need you to spare ahead the transition of energy systems
26:55 from fossil fuels to renewables
26:57 while also ensuring universal access to energy.
27:00 You must lead the way in supporting credible just transition plans.
27:05 And you must marshal efforts to fund green, resilient and inclusive recoveries
27:09 without exacerbating the sovereign depth crisis
27:12 that crippled low and middle-income countries.
27:16 It is essential to avoid entrenching developing countries
27:19 in high carbon, fossil fuel intensive investments
27:23 with high stranded asset risks.
27:25 Critically, you must encourage private finance at scale.
27:30 Despite commitments made in Paris and repeated every year since,
27:34 leverage ratios of multilateral development banks
27:36 are nowhere near what is needed for transformative impact.
27:40 Excellencies, let me turn now to adaptation resilience.
27:44 There are no other institutions better placed than
27:46 development banks to fund adaptation needs.
27:50 If multilateral regional and other public development banks
27:53 do not lead on this front, no one will.
27:55 It is your responsibility to ensure that climate impacts
27:58 will not jeopardize hard won development gains.
28:03 Years of work and trillions of dollars in investments are at risk.
28:07 That is why I'm asking dollar countries
28:09 and multilateral development banks
28:11 to allocate at least 50% of their climate finance
28:14 to adaptation and resilience.
28:16 Excellencies, friends.
28:18 The clock is ticking.
28:20 The world is growing anxious.
28:22 We need your leadership and I wish you a productive meeting.
28:27 I thank you.
28:31 [GLASGOW 55.8600ºN 4.2854ºW]
28:38 [MERIEM GRAY] What a great message from the UN Secretary General
28:41 about why COP26 is so critical and what's at stake.
28:45 Now, one of the critical ways to address the climate crisis is through
28:49 what's called "nature-based solutions" or "green infrastructure".
28:52 Everything from mangroves on coastlines to green spaces in urban areas.
28:57 Our next guest, His Royal Highness, the Prince of Wales,
29:01 has long been a passionate advocate of the importance of nature and biodiversity.
29:05 Here's what he had to say.
29:11 [HRH THE PRINCE OF WALES] Ladies and gentlemen,
29:12 I am enormously grateful to have been invited to join you
29:15 for this year's annual meetings
29:17 of the World Bank Group and the International Monetary Fund.
29:23 As we look to build forward better from this pandemic,
29:27 it is increasingly clear that human health, planetary health,
29:31 and economic health are fundamentally interconnected.
29:36 77 years on from the Bretton Woods Conference,
29:39 and with global threats now surpassing those we saw
29:43 in the Second World War,
29:45 we simply must seize the current window of opportunity
29:49 to reimagine our global systems
29:48 of opportunity to reimagine our global systems
29:52 in a way, that puts nature, people, and planet
29:56 at the heart of how we operate
29:58 to consider how to do this and how to catalyze
30:03 the trillions of dollars needed for transition.
30:06 I convened a group of international CEOs
30:10 to help develop a Terra Carta,
30:13 a practical blueprint for practical action.
30:17 The result identifies three key priorities.
30:21 First, encouragement to governments
30:24 to send clear market signals
30:27 about long term economic direction
30:30 and the timelines involved
30:32 to incentivize the achievement
30:34 of climate, biodiversity and just transition targets.
30:39 This could helpfully include
30:41 clear sustainability mandates
30:44 for the multilateral development banks.
30:47 Only with this kind of clarity
30:50 can industries and investors alike
30:52 have the confidence they need
30:54 to channel a trillions of dollars at their disposal
30:57 towards a sustainable future.
31:00 Second, to meet the world's 1.5 degree target
31:05 we need to align industry, investment,
31:08 and country transition roadmaps
31:11 to build pipelines of investable and genuinely sustainable projects.
31:18 Multilateral development banks have a critical role to play
31:23 to help build technical capacity, mitigate risk,
31:27 and improve the flow of private finance,
31:30 particularly in the world's most climate vulnerable countries.
31:35 Third, consumers control over 60% of global GDP
31:39 so they need clear information
31:42 about the sustainability of products and services
31:45 they are buying in order to make informed choices.
31:49 This is starting to happen, be it through sustainably grown food,
31:54 green transportation, sustainable fashion, or working for sustainable employers.
32:01 Mandating global standards,
32:03 including through internationally recognized labeling,
32:06 would be transformational.
32:09 Ladies and gentlemen, to seize this moment of acceleration,
32:13 we simply must work together
32:16 across public, private, and philanthropic sectors
32:20 to build a pipeline of transformative projects
32:24 at scale that can help us rapidly transition to a sustainable future.
32:30 Leveraging the private sector's estimated 145 trillion dollars
32:36 in assets under management, projected by 2025
32:41 will be key to our collective success.
32:45 Here, the World Bank, the IMF
32:48 and regional multilateral development banks
32:50 have a crucial role to play
32:53 in removing the risk barrier to private financial investment.
32:58 I'm afraid it is time to roll up our sleeves
33:02 and detail our plan of actions.
33:05 In particular, I would like to encourage
33:08 that we look at accelerating private finance,
33:12 including through first and second loss guarantee pools,
33:17 advancing systems level solutions,
33:20 including by looking at governance and mandates
33:24 and enhancing technical and operational capacity,
33:29 including preparing projects for investment.
33:33 With action on climate change, biodiversity loss,
33:37 and a just transition more urgent than ever.
33:42 I can only encourage us all
33:44 to get to work and sort this problem out.
33:49 [ANNUAL MEETINGS 2021, WASHINGTON DC]
33:50 [GERD MÜLLER, FEDERAL MINISTER FOR ECONOMIC COOPERATION AND DEVELOPMENT, GERMANY]
33:52 Your Royal Highness. Excellences. Ladies and gentlemen.
33:56 Time is running out for a 1.5 degree target.
34:01 Our challenges are huge.
34:03 The COVID-19 pandemic, extreme poverty,
34:06 persistent conflicts, the climate crisis.
34:10 If you don't change cost, global temperatures will increase
34:14 to two, maybe three degrees Celsius by the end of the century.
34:21 We still have a chance to go green.
34:25 We have the knowledge and the technologies
34:27 to address these crisis.
34:30 We also have the resources.
34:33 Many countries are planning massive investments
34:36 to restart the economies,
34:39 but only ten percent of the recovery programs
34:42 target resilience and green investments.
34:46 That is why we started the Green Recovery Initiative.
34:50 We work together with the Word Bank, Austria and the UK
34:55 to strengthen this initiative.
34:58 Germany will provide an additional 60 million Euro.
35:04 The initiative will support a global transformation role,
35:09 policies that put a price on carbon,
35:12 and phase out fossil fuel subsidies,
35:16 targeted private investments in renewable energies,
35:20 green infrastructure and nature-based solutions.
35:24 We cannot wait any longer to fight climate change.
35:28 Concrete actions for such a global transformation
35:32 are key for a successful COP26.
35:36 [WIND BLOWING]
35:39 [GLASGOW, 55.8600°N, 4.2854°W]
35:44 [MOSES ALEX KARGBO] [Speaking in foreign language]
35:48 I am Moses Alex Kargbo in Freetown, Sierra Leone
35:52 and you're watching the World Bank-IMF Annual Meetings.
35:58 [MERIEM GRAY] A huge thank you to minister Gerd Müller
36:01 for this message
36:02 I'm joined now by Stephane Hallegatte
36:04 who is a senior advisor to the World Bank Climate Change Team
36:08 Stephane, it feels like every day there is another climate news,
36:14 whether it's, you know, a record-breaking heat,
36:17 or wildfires, to devastating floods and hurricanes.
36:21 So-- And this is impacting people across the world.
36:24 Is this something we should be really this surprised about?
36:26 [STEPHANE HALLEGATTE, SENIOR ADVISOR AND ECONOMIST, CLIMATE CHANGE TEAM, WORLD BANK GROUP]
36:27 No, we're not surprised about this.
36:29 Actually, this is what was expected decades ago already.
36:33 Even a minor change in the average climate
36:35 can have a huge impact on extreme events.
36:38 So if you look at heat waves, heavy rainfall or wildfires,
36:43 we see already a lot of difference in the frequency and intensity.
36:46 And as you said, everybody is affected.
36:48 But for us here, at the World Bank,
36:50 what really matters is the fact that poor people
36:53 are more affected than the rest,
36:54 and that these extreme events increase poverty.
36:57 Today, we estimate that the natural disasters
37:00 already push 26 million people per year in poverty.
37:04 And if we look at 2030, it's up to 130 million people
37:08 that could fall in poverty, just because of climate change.
37:11 [MERIEM GRAY] Well, those are really shocking numbers.
37:14 So is it all just bad news? Are there things we can do?
37:17 [STEPHANE HALLEGATTE] Well, the first thing
37:18 is if poverty explains vulnerability,
37:21 it means that when we take people out of poverty,
37:24 we make them less vulnerable
37:25 and we reduce the impact of climate change.
37:27 So richer people with better savings,
37:30 better access to healthcare,
37:31 financial inclusion and so on, can better adapt and cope.
37:35 So our mission here, reducing poverty
37:38 is also a mission to reduce the vulnerability
37:40 of this population and make them less vulnerable.
37:43 Of course, this is over the short run.
37:46 If you look at the long term, we also need
37:48 to stabilize climate change and reduce carbon emissions.
37:52 [MERIEM GRAY] So broadly,
37:55 all countries have committed to tackle climate change
37:58 and on both sides of it,
38:00 reducing emissions and making people less vulnerable to it.
38:03 So what needs to be done and what comes first.
38:06 [STEPHANE HALLEGATTE] So the first thing to know
38:08 is that to stabilize climate change,
38:09 So, to stop the increase in temperature,
38:11 carbon emissions need to go to zero.
38:13 So we're not talking about a reduction by ten or 20 percent.
38:17 No, we're talking about a radical change going to zero.
38:19 And of course, that makes the challenge
38:21 look daunting, extremely difficult.
38:23 And yes, it is difficult.
38:25 But what we'll try to convince everybody today
38:28 is that it is possible to do it
38:30 and it is easier than it looks.
38:32 And it's easier if we cut the problem in two pieces.
38:34 So let's start with energy.
38:36 We know energy is critical for development,
38:39 it's critical for modern technologies
38:41 quality of life, growth and productivity.
38:43 Still, today, 800 million people don't have access to electricity.
38:48 So we have a major development challenge here.
38:51 At the same time, energy is responsible
38:54 for 70 percent of carbon emissions globally.
38:57 So this is also a climate challenge.
38:59 So, here, this is a combi--
39:00 A combination of climate and development challenge
39:02 we have in front of us.
39:04 [MERIEM GRAY] Stephane-- Stephane,
39:06 let's just take a look at the data now and see
39:10 how different sectors contribute to this total.
39:14 Let's take a look at the line,
39:17 which shows a contribution of electricity and heat.
39:19 So this is almost 16 billion tons of CO2 equivalent
39:23 per year, already today.
39:24 [MERIEM GRAY] Next up, transport,
39:26 effectively how we move
39:28 around the cities and across countries.
39:30 [STEPHANE HALLEGATTE] In this one, you see
39:31 almost a straight line going up.
39:33 [MERIEM GRAY] Going up.
39:34 And lastly, manufacturing and construction.
39:38 So looking at this, clearly, energy is the biggest part.
39:42 [STEPHANE HALLEGATTE] Yeah. And those three lines
39:45 need to go to zero.
39:46 So how do we make that happen?
39:48 So the first thing is to make electricity
39:50 without emitting carbon,
39:53 and we can do that by investing massively in renewable energy.
39:56 It's the first thing we can do.
39:58 So that's solar, wind, geothermal
40:01 and the good news is the costs of those technologies
40:03 have dropped so much recently
40:05 that this is cheaper than fossil fuels today.
40:08 So, we can invest in renewable and it's affordable now.
40:12 In parallel, we have to exit from fossil fuels
40:15 in electricity generation.
40:16 That's the second thing we need to do
40:18 and that, we have to do it very carefully
40:20 because first, we have to keep the stability of the system.
40:23 And second, some communities are very dependent on coal.
40:27 And if we want to just transition,
40:28 we need to invest in those communities to make sure they can transition away
40:33 from coal and find other livelihoods, other economic activities.
40:36 [MERIEM GRAY] So this is cleaning up our power systems.
40:39 What next?
40:40 [STEPHANE HALLEGATTE] So, as we go towards
40:42 zero carbon electricity,
40:44 we have to use much more of this electricity.
40:46 So, it's using electric buses,
40:49 electric cars to move around,
40:50 using heat pumps to heat our homes
40:53 and also cooking with electricity, for instance.
40:56 And when we can't use electricity, like for heavy industries,
40:59 we have to find other carbon free fuels,
41:02 like hydrogen that we produce with renewable energy.
41:04 And by the way, this would go a long way
41:06 solving air pollution challenges that we face today.
41:10 We're doing it. We're doing it.
41:12 We're going in that direction.
41:13 But it would be much easier
41:15 if we're very efficient in how we use energy.
41:17 And that's the fourth thing we have to do.
41:19 We have to have our buildings well insulated.
41:22 We have to use public transit more than individual cars.
41:25 And our industries have to be more efficient.
41:27 And if we do that, it's also good for development
41:30 because it's paying less for energy.
41:31 It's more productivity.
41:33 It's more jobs.
41:34 [MERIEM GRAY] Thank you. Thank you, Stephane.
41:36 Please stand by.
41:38 Now, let's start our journey around the world
41:40 and take a closer look at what the energy transition
41:44 looks like in three very different countries.
41:52 [Upbeat Music]
41:53 [CLIMATE JOURNEY, INDIA]
41:55 [NEW DELHI 28.6139°N, 77.2090°E]
41:57 [CARS HONKING]
42:01 [CARS MOVING]
42:02 [YAMINI AIYAR, PRESIDENT & CHIEF EXECUTIVE, CENTRE FOR POLICY RESEARCH]
42:04 India is rapidly urbanizing.
42:07 Urban India is at the heart of a growing India,
42:11 but this throws up very important questions
42:13 about the kind of energy choices we are making.
42:16 There are crucial decisions that India needs to take
42:18 over this next decade
42:20 that will lock us in-- into energy transition.
42:24 For India to be able to build
42:27 a low carbon industrial revolution, it needs international support.
42:32 And this support is not just technological support,
42:36 but also financial cooperation to enable India to build
42:41 the institutional capacity, the technical capacity
42:44 and the public support for the transitions it needs to take.
42:49 [Upbeat Music]
42:51 We are standing here today, right in front of a metro station.
42:54 This metro station is largely supported through renewable energy.
42:58 So it's about the kind of energy that you are deploying.
43:01 But it's also about how the transportation systems
43:05 are located in ways that ensure that the bulk of people use them.
43:10 So we exit our cars and enter the public transportation system.
43:15 [Upbeat Music]
43:18 Climate change is a huge challenge,
43:21 but it is also a significant opportunity
43:24 to rethink what it means to build an economic growth trajectory
43:29 that is sustainable, that is long term,
43:31 that is inclusive.
43:33 This is a domestic challenge and a global challenge
43:36 and a time for the international community
43:38 to come together.
43:40 [Upbeat Music]
43:52 [CLIMATE JOURNEY, KENYA]
43:54 [KILIFI 3.5107°s, 39.9093°E]
43:56 [Large parts of Kenya are not connected to the national grid]
44:01 [Off-grid renewable energy companies are springing up to fill the gap]
44:05 [John Masha Ngowa used to live without electricity]
44:11 [JOHN MASHA NGOWA]
44:12 I am a barber and I have a shop in my home area, Tezo
44:19 [DOOR OPENING]
44:21 The advert showed there was solar lighting
44:24 I opted to pick it since we didn't have an electricity connection
44:28 in our home and shop.
44:30 [As part of his energy package, John's provider gave him a free razor]
44:34 They have a good shaving machine that I am able to use
44:37 hence I settled on the solar energy.
44:40 [RADIO MUSIC PLAYING]
44:45 [RAZOR TURNING ON]
44:48 I have used solar energy to charge the shaving machine
44:55 It has helped me get the machine and get a job
45:01 [RAZOR SHAVING]
45:03 It has made work easy.
45:05 First, I used to take up a lot of time shaving
45:08 and my clients would sometimes get injured
45:11 and the end cut wouldn't look as good.
45:14 [BIRDS FLYING]
45:15 It has also helped me increase my hours of operation
45:20 since I am able to work till late into the night.
45:33 [CLIMATE JOURNEY, POLAND]
45:34 [KONIN 52.2230°N, 18.2511°N]
45:36 [The future of workers at Poland's oldest brown-coal-fired plant is uncertain.]
45:41 [As part of the green transition, its coal fired units will be decommissioned or converted.]
45:45 [Workers and local communities hope it will be just and provide new opportunities.]
45:50 [ALICJA MESSERSZMIDT, PRESIDENT, KEDRA PAK KWB KNIN MINE TRADE UNION]
45:51 Energy transition will affect the lignite industry,
45:56 particularly employees of the ZE PAK Group,
46:00 which employs 4000 people.
46:04 For the transition to be just and effective,
46:08 we need to ensure employment for workers.
46:12 Creating new jobs, reskilling.
46:17 [ALICJA MESSERSZMIDT, PRESIDENT KEDRA PAK KWB KNIN MINE TRADE UNION]
46:21 [Upbeat Music]
46:25 A date of exiting coal should be announced
46:30 as well as the costs of the transition
46:35 for the local community provided.
46:42 [PEOPLE TALKING]
46:45 Co-operation with local governments, trade unions, employers,
46:50 and the local community is hugely important.
46:58 [WOMAN] We are reminded of the importance
47:00 that this process is what we called just.
47:02 [ALICJA MESSERSZMIDT]
47:04 We see that the climate is changing global warming is getting worse.
47:08 We need to do everything to ensure that we live
47:13 in a clean and calm environment.
47:16 As a Polish person, I call on the world:
47:20 let us take care of the planet, but also take care of the people.
47:24 Then the transition will be efficient,
47:27 just, and most importantly, it will have a human face.
47:31 [GUITAR STRUM]
47:35 [ANNUAL MEETINGS 2021, WASHINGTON DC]
47:38 [MERIEM GRAY] Indeed, a message from Poland to the world
47:41 is that this transition is about bringing people
47:44 and communities alone,
47:46 and we will be continuing our journey
47:48 to Jordan, Niger, Uganda in just a few moments.
47:51 If you have just joined us, I'm Meriem Gray,
47:54 and we are discussing how to-- we can make climate action count.
47:58 Remember, you can share your thoughts at any point
48:01 using #VOICESFORCLIMATE.
48:04 Our senior climate change adviser, Stephane Hallegatte joins me again.
48:09 Stephane, obviously, energy is a critical part of it,
48:12 but that's not the only system which requires transformation.
48:15 So what else is mission critical?
48:17 [STEPHANE HALLEGATTE] So it might sound a bit obvious,
48:19 but to bring emissions to zero, we need
48:21 all sorts of emissions to go to zero.
48:23 So energy is really important,
48:25 but another one that's really critical is food and land use.
48:28 And this is really important
48:29 because a lot of people in poverty are farmers.
48:32 But also because the world population is growing
48:35 and we need to provide foods to this population.
48:38 And this food needs to be good and nutritious, but also affordable.
48:41 A lot of poor people are spending more than half of their income on food,
48:44 so they are very sensitive to increase in food prices.
48:48 But we have to do that
48:50 while preserving forests and ecosystem.
48:53 We want to preserve them
48:54 because we want to protect biodiversity
48:56 because they are some of the most beautiful places on Earth,
48:59 but also because those ecosystems take carbon out of the atmosphere
49:04 and help us meet our goals in terms of climate change.
49:06 [MERIEM GRAY] So...
49:08 let's take a look at the data again.
49:11 So, here we have a graph that we saw earlier,
49:15 showing how energy contributes to global emissions.
49:18 Now, let's add a line for agriculture.
49:21 Look at this.
49:22 It's almost as much as manufacturing.
49:25 And also let's add a line to show the contribution of land use.
49:29 [FOOD, LAND USE & CLIMATE CHANGE, GREENHOUSE GAS EMISSIONS BY SECTOR]
49:31 So, Stephane, if you look at this,
49:34 what can be done to reduce
49:36 these emissions from food and land use?
49:38 [STEPHANE HALLEGATTE] So first,
49:40 you really have to look at those two lines together
49:42 because those problems are very closely connected.
49:44 And again, there will be no magical solution.
49:47 But we know what needs to happen.
49:49 And the first thing that needs to happen
49:51 is that we need to protect the forest and ecosystem,
49:54 as I said.
49:55 And if possible, also let them regrow,
49:57 because that is capturing carbon from the atmosphere.
50:00 But if we do only that, the risk is to increase with prices.
50:04 And so, in parallel, the second thing
50:06 we have to do is to increase agricultural productivity
50:09 and to do that, we need to change agricultural practices
50:12 to make them more efficient and more sustainable.
50:15 For instance, we have to grow the right crops,
50:17 in the right places, in the right climate,
50:19 and we have to use entrance, and water in a very efficient way,
50:23 adapted to the local conditions.
50:24 [MERIEM GRAY] So what you're saying
50:26 is that we need a combination of more productive agriculture
50:29 and protecting ecosystems that can help us deal
50:33 with food security issues
50:34 and biodiversity and climate protection.
50:37 [STEPHANE HALLEGATTE] Yes, and like always,
50:39 efficiency will be critical.
50:41 So the third thing is not to waste food.
50:44 We have all been told as kids that we should not waste food.
50:47 It's true, but it's also true to protect the climate.
50:50 And today we're really losing too much of the food we produce.
50:52 The fourth thing we need to do is to use
50:54 water very carefully and also to protect the ecosystems
50:58 that are contributing to maintaining the quality
51:01 of that water that we consume.
51:03 And the last thing, the fifth thing and it's again a good news
51:06 is healthier diets can not only make us live longer and healthier
51:11 but also reduce the impact of agriculture on the climate.
51:14 So it's those LCO diets are also good for the environment.
51:17 [MERIEM GRAY] Thank you Stephane, please stand by.
51:20 Let's go back to our journey around the world.
51:23 This time we asked three people to share
51:26 their solutions for agriculture, land use and water.
51:34 [Upbeat Music]
51:36 [CLIMATE JOURNEY, JORDAN]
51:38 [AMMAN 31.9539°N, 35.9106°E]
51:41 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
51:43 Our beautiful country is very rich in many resources.
51:48 But Jordan is ranked as the second or third poorest country
51:53 in terms of border resources.
51:55 [SAMER JUDEH, CHAIRMAN, JORDAN WIND PROJECT COMPANY]
52:00 [WATER POURING]
52:02 We have enough water for two million people
52:05 but currently the population is in excess of ten million.
52:10 In terms of climate change, Jordan used to receive
52:13 about five to eight billion cubic meters of rainfall,
52:17 but we currently receive about three billion.
52:19 And as a result of high temperature is 90% of that water evaporates.
52:24 The most important example of this is the beautiful Dead Sea,
52:30 the level of water is shrinking by about half a meter per year.
52:34 There are a lot of solutions that the government
52:36 is currently working on.
52:39 Jordan is a real success story when it comes to renewables.
52:42 Ten years ago, several kilowatts of renewable energy were produced.
52:48 Today, we are talking about in excess 3000 megawatts
52:52 from solar and wind that provides clean, green and cheap energy.
52:58 You can use renewables to reduce the CO2 emissions
53:02 and to reduce the cost of piping and pumping water projects.
53:07 I think we're on the right track and my hopes
53:10 are that we move in high gear
53:12 and we move very quickly on implementing water solutions.
53:17 [WATER RUNNING]
53:25 [CLIMATE JOURNEY, NIGER]
53:26 [NIAMEY 13.5116°N, 2.1254°E]
53:27 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
53:30 We are witnessing repeated flooding
53:34 So in India repetitive effective.
53:37 [GRINDING SEEDS]
53:40 [CHILD TALKING]
53:41 [WATER RUNNING, WIND BLOWING]
53:44 There is also a proliferation of climate-induced disease.
53:50 We are seeing cases of cholera,
53:52 cases of meningitis that are coming back.
53:55 Currently, there are many hazards that affect
54:00 both, communities and their ability to produce food.
54:05 [INOUSSA DAMBAGI, NATIONAL COORDINATOR, COMMUNITY ACTION PROJECT FOR CLIMATE RESILIENCE PACRC]
54:10 [PEOPLE SHOVELING]
54:13 [PACRC]
54:14 [Helps the Niger government build resilience
54:16 to climate change in rural communities.]
54:23 [ZAÏ] [These planting pits help retain water and allow local farmers to sow crops in bare lands.]
54:26 We have improved the resilience
54:28 of agro-sylvo-pastoral systems.
54:32 We have used a combination of measures for sustainable land and water management.
54:37 These actions have helped to increase productivity and increase incomes,
54:44 food security, agricultural inputs and livestock feed.
54:49 Then there is the replenishment of stocks from local markets,
54:54 to energy, to basic necessities,
54:59 which are manufactured locally.
55:02 We need to see a scaling up of the successes
55:09 and the new avenues opened up by this project.
55:24 [Upbeat Music]
55:26 [CLIMATE JOURNEY, UGANDA]
55:28 [KYEGEGWA, 0.4818°N, 31.0550°E]
55:32 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
55:34 Ever since I started to work, we've been having a challenge of droughts
55:40 Ninety nine percent of the farmers in Kyegegwa, they depend on agriculture.
55:45 Climate changes impacted on them.
55:48 [ANNET NAKIDDE, AGRICULTURAL ENGINEER]
55:52 [Annet promotes farmer-led irrigation.]
55:56 [It helps them adapt to droughts & unpredictable rainy seasons.]
56:05 The farmer makes the decision on what he wants.
56:09 These are essential farmers.
56:11 These are farmers who will need irrigation.
56:14 We want to shift from subsistence to commercial.
56:17 It is really looking at the farmer who has been struggling,
56:22 And if the government just push a little,
56:25 this farmer can be somewhere.
56:28 [Upbeat Music]
56:31 So we set up this demonstration garden
56:34 to show farmers different technologies.
56:36 [Upbeat Music]
56:40 So a farmer would move from sprinkler to drip.
56:43 And he sees how the irrigation technology is.
56:45 Then it goes to drag hose.
56:47 So then the farmer knows what he wants.
56:50 [Upbeat Music]
56:55 But we faced a challenge.
56:57 We were hit by a huge storm.
56:59 We are trying to plan again, how we can come up again.
57:03 [Upbeat Music]
57:06 But we are not going to give up.
57:08 We are going to support, we are going to move together
57:11 and we make sure that our farmers come and learn.
57:15 [Upbeat Music]
57:17 Some had lost hope.
57:19 But now they are gaining back with the project.
57:23 [Upbeat Music]
57:32 [WOMAN] Hello, xin chào.
57:34 I'm here in Hanoi, Vietnam, and you're watching
57:36 the World Bank Group-IMF Annual Meetings.
57:41 [MERIEM GRAY] In this last video, Annet Nakidde
57:44 makes a great point about water scarcity.
57:47 This is a sector that is particularly prone
57:50 to climate change impacts.
57:51 Stephane, let's talk about how communities
57:54 can strengthen their resilience.
57:56 [STEPHANE HALLEGATTE] So all communities,
57:59 all countries will be affected by climate change.
58:01 And we already see some of those impacts,
58:03 so they all need to be better prepared.
58:05 What do we need to do? So the first thing,
58:07 as we discussed before,
58:08 poverty is a big driver of vulnerability.
58:12 So reducing poverty, taking people out of extreme poverty
58:15 is really a big priority, but it won't be enough.
58:18 We also need to do more.
58:19 So the second thing is to help people and firms adapt
58:23 because people and firms they want to adapt.
58:25 Nobody likes to be flooded or to lose income,
58:28 but they face obstacles.
58:30 Sometimes they lack the information,
58:32 sometimes technologies,
58:33 sometimes they don't have access to financing.
58:35 We have to tackle those obstacles to let people and firms adapt.
58:39 And because we have to acknowledge
58:41 that there will always be disasters, there will always be impact.
58:45 We have also to provide people and firms
58:47 tools to recover when they are affected.
58:50 So it will be adaptive social protection
58:52 to help populations or like insurance
58:55 or access to borrowing for firms.
58:57 The third thing is a responsibility of governments,
59:00 including local governments,
59:02 and it's our infrastructure, our cities,
59:05 the way we use land.
59:07 Today, we have no excuse.
59:08 We should not build any building
59:10 or any piece of infrastructure
59:12 that is not adapted to the climate and risk of today,
59:15 but also the climate and the risk of tomorrow.
59:18 So this is a really important part of the equation.
59:20 And finally, the fourth point is
59:22 to tackle the macro economic impact
59:24 of those climate change consequences.
59:28 Governments can do a lot, for instance,
59:31 by diversifying their economy.
59:33 Also diversifying the tax base so that when there is a shock,
59:36 they have the resources to cope and recover.
59:39 [MERIEM GRAY] Right? Absolutely.
59:40 In fact, our next guest actually spoke about adaptation
59:45 and shared his hope for what he would like to see on this front.
59:47 Let's take a listen.
59:52 [PROFESSOR SALEEMUL HUQ] The recent 6th Assessment Report
59:54 Working Group I
59:55 of the Intergovernmental Panel on Climate Change
59:57 has very clearly stated that we have now entered unequivocally
01:00:01 into a climate changed world
01:00:04 because of the temperature increase
01:00:06 over one degree centigrade
01:00:07 compared to preindustrial times.
01:00:09 Therefore, we have now entered
01:00:12 the era of loss and damage from climate change.
01:00:15 What we want to see from our leaders going up to COP26,
01:00:19 and every single day, not just once a year,
01:00:22 is actions commensurated
01:00:24 with the crisis and emergency we are in.
01:00:26 There is nowhere near enough action
01:00:29 at the scale that is required.
01:00:31 All our leaders need to take it seriously,
01:00:33 need to take actions immediately,
01:00:35 and not just the political leaders,
01:00:38 but leaders of companies,
01:00:39 leaders of cities, towns, villages,
01:00:42 and every single citizen on the planet
01:00:44 now needs to take climate change seriously,
01:00:47 as the emergency that it is.
01:00:50 And now we need action every single day,
01:00:52 everywhere in the world, from everyone.
01:01:06 [MERIEM GRAY] That's a great message
01:01:07 from Salim Hack,
01:01:08 and it really begs the question,
01:01:10 how can countries afford to do all this?
01:01:12 Many of these investments, after all,
01:01:14 need to happen in countries
01:01:16 which are among the world's poorest
01:01:18 and certainly all countries have been affected by COVID-19.
01:01:21 So how these transitions are going
01:01:23 to be financed, Stephane?
01:01:25 [STEPHANE HALLEGATTE] So those investments
01:01:27 over the long term, they will pay for themselves.
01:01:30 When we spend $1 in the resilience of infrastructure,
01:01:34 we avoid $4 in losses later on.
01:01:36 When you pay for a solar panel,
01:01:38 you don't have to pay for the fuel.
01:01:39 So over the long run,
01:01:41 it might be easy.
01:01:43 But the problem is, of course,
01:01:45 that you have to invest to start with.
01:01:47 And this upfront costs, very high upfront cost,
01:01:50 is really the challenge we have.
01:01:51 So this is, before everything, a financing challenge.
01:01:56 And yes, we're talking about trillions.
01:01:58 So it's impressive,
01:01:59 but we have to keep in mind, we're already investing
01:02:02 trillions of dollars every year.
01:02:03 So the question is not so much investing more.
01:02:05 It's making sure we invest better.
01:02:07 That we invest in projects
01:02:09 which are not only good projects and profitable projects,
01:02:12 but also projects that are resilient
01:02:14 and sustainable. This is a challenge.
01:02:16 [MERIEM GRAY] How are we going to make it happen?
01:02:18 [STEPHANE HALLEGATTE] So the first thing
01:02:19 is the set of policies,
01:02:21 prices, regulations that you have in an economy.
01:02:24 So we've been discussing
01:02:26 about the regulation of the financial sector, for instance.
01:02:28 We have been discussing about fossil fuel subsidies
01:02:31 and how they bring investments into fossil fuels.
01:02:35 All of those signals need to change
01:02:37 to make sure all investments,
01:02:39 domestic and international,
01:02:41 public and private,
01:02:42 are going to the right projects,
01:02:44 which are projects driving us toward net zero.
01:02:47 And the longterm signal
01:02:49 when countries commit to achieve net zero
01:02:52 in 2050 or 2060 are also very important
01:02:54 because they help drive and redo investments
01:02:57 and other investments.
01:02:58 But this won't be enough.
01:03:00 For poor countries, especially affected by COVID,
01:03:03 they will need help.
01:03:04 And climate finance,
01:03:06 the resources that rich countries
01:03:08 can bring to help them
01:03:09 will play a critical role to pay that upfront costs.
01:03:12 And there are also specific instruments.
01:03:14 For instance, green technologies
01:03:16 tend to be considered more risky
01:03:18 than traditional ones.
01:03:19 So we can create specific instruments
01:03:22 with guarantees or other de-risking tools
01:03:24 to attract the private sector,
01:03:26 and make sure they also invest in those technologies.
01:03:28 And finally, public finance will play a key role.
01:03:31 And that's especially for the most basic infrastructure,
01:03:34 and also to help the poorest communities,
01:03:36 which will always struggle to attract private investors.
01:03:40 [MERIEM GRAY] Right. So we actually asked Alan Jope,
01:03:43 the CEO of Unilever,
01:03:44 and Chris Sacca,
01:03:46 founder and chairman of Lowercarbon Capital,
01:03:49 for their thoughts on how the private sector sees
01:03:52 the climate challenge.
01:03:57 [ALAN JOPE] Good afternoon,
01:03:58 and thank you for the opportunity to speak
01:04:00 about the role of the private sector
01:04:02 in turning ambition into reality.
01:04:06 Climate change in its impacts matter to business.
01:04:09 In addition to the tragic human and social costs,
01:04:13 we are seeing all over the world how systemic shocks
01:04:16 are disrupting value chains
01:04:18 and acting as a downward pressure on global growth.
01:04:22 Yet here we are still careering towards
01:04:25 a world that is three degrees warmer.
01:04:27 So looking to COP26 and beyond,
01:04:30 the world must deliver a global response
01:04:33 that matches the scale of the climate challenge.
01:04:36 Of course, governments must commit
01:04:38 to credible national plans
01:04:39 that keep the Paris agreements,
01:04:41 1.5°C limit within reach.
01:04:44 And business must also do our part
01:04:47 to deliver that ambition.
01:04:50 At Unilever,
01:04:51 successful climate action starts
01:04:53 with getting our own house in order.
01:04:55 For example, our operations around the world
01:04:57 are now powered by 100% renewable grid electricity,
01:05:01 and our CO2 emissions are down
01:05:04 by 75% per ton of production
01:05:06 versus our 2008 baseline.
01:05:09 We're also investing in natural climate solutions
01:05:12 to address both the climate and nature emergencies together.
01:05:16 In fact, we're finding that delivering our climate goals
01:05:19 also lowers operational costs
01:05:22 and increases the resilience of our value chain.
01:05:26 But no business can tackle climate change alone.
01:05:29 And most emissions in a value chain
01:05:32 usually come from outside a company's direct operations.
01:05:35 And that's why during New York Climate Week,
01:05:38 we launched the Unilever Climate Promise.
01:05:40 That's an invitation to our suppliers
01:05:43 to join us in delivering
01:05:46 our ambitious climate transition action plan goals.
01:05:49 And through such value chain and sectoral approaches,
01:05:53 we believe that we can scale the private sectors actions
01:05:57 for more impact.
01:05:59 The business case for climate action is clear,
01:06:02 and the role of the private sector
01:06:04 in the low carbon transition
01:06:06 is going to be crucial.
01:06:07 And on that note,
01:06:08 thank you again for letting me share my thoughts
01:06:11 on this very important topic.
01:06:17 [CHRIS SACCA] I'm Chris Sacca,
01:06:18 founder of Lowercarbon Capital.
01:06:20 We're one of the world's most active backers
01:06:22 of companies and organizations
01:06:23 working to solve the climate crisis.
01:06:25 And I'm here with some good news: it's gonna work.
01:06:28 The global economy will be decarbonized.
01:06:30 Why? Well, I mean, it's selfinterest.
01:06:33 Compare traditional energy source,
01:06:35 digging up in burning old dinosaur bones,
01:06:37 to these days when it's just plain cheaper and safer
01:06:39 to power our economy with the sun.
01:06:41 And we're seeing this play out
01:06:43 across energy, agriculture and transport.
01:06:46 I mean, you name it.
01:06:47 But just getting to zero emissions is not enough.
01:06:50 The latest IPCC report is clear.
01:06:52 We also need to suck carbon pollution
01:06:54 back out of the atmosphere.
01:06:55 That's gonna take a lot of time and money,
01:06:57 and it's a great space for government to be helpful.
01:06:59 Because overall, we don't get to choose one or the other.
01:07:03 We have to both reduce emissions and capture carbon.
01:07:06 And if we do, Earth will come back into balance.
01:07:09 But here's the problem.
01:07:11 None of that can possibly happen big enough and fast enough
01:07:14 to avoid disaster.
01:07:16 Now, look, I'm a professional optimist,
01:07:18 but anyone who's telling you we can get all this done
01:07:20 by 2030 is just out of touch with reality.
01:07:23 So we need to buy the planet some time.
01:07:26 How?
01:07:27 Well, there's some science we can all fund today,
01:07:29 and cheaply and quickly,
01:07:31 that'll have a massive impact.
01:07:32 And that science is sunlight reflection.
01:07:35 And it's really our only shot of staving off tragedy
01:07:38 until the clean economy and carbon removal can catch up.
01:07:41 Because hanging in the balance are the lives
01:07:43 of hundreds of millions of the world's most vulnerable people.
01:07:47 Now, many of us here are able
01:07:49 to escape the drought and the famine
01:07:51 and the war that result from the climate crisis.
01:07:53 And that is the ultimate privilege.
01:07:56 But with that privilege comes the moral responsibility
01:07:59 for all of us to help others who aren't as lucky.
01:08:02 Yes, we must keep reducing emissions
01:08:04 and pulling carbon out of the sky. That'll work.
01:08:06 But in the meantime,
01:08:07 sunlight reflection research can save millions of lives.
01:08:11 And let's start by backing the scientists
01:08:13 based in the countries where the local people are most at risk.
01:08:17 We owe it to them.
01:08:19 And we owe it to each other.
01:08:31 [MERIEM GRAY] We've already heard from Vietnam, India,
01:08:34 Kenya, Poland, Nicer, Uganda and Jordan.
01:08:37 Last we are taking you to Brazil and Cameron.
01:08:55 [ROSANE SANTOS] In Brazil, we see that issues like
01:08:57 scarcity of drinking water,
01:08:58 unprecedented floods and droughts,
01:09:01 rising sea levels and food insecurity are increasing.
01:09:04 In northeastern Brazil,
01:09:06 arid and semiarid areas are already impacted
01:09:10 and will suffer or even more
01:09:12 with the reduction of water resources available
01:09:14 for daily activities.
01:09:22 What is critical for us to succeed in this challenge
01:09:25 is to understand that it affects all of us.
01:09:28 The solution also needs to be collective.
01:09:31 Companies, governments and civil society in general
01:09:35 must understand the need
01:09:37 to be more serious about climate change
01:09:39 as our existence depends on it.
01:09:47 We need to work together as a team
01:09:49 to raise awareness and have a successful climate action.
01:09:58 One of the paths we need to accelerate is
01:10:01 putting climate change at the forefront
01:10:04 for the business agenda.
01:10:06 In the case of the sanitation companies,
01:10:08 it is crucial that, they together with other industries,
01:10:12 understand the importance of climate change
01:10:15 and water scarcity.
01:10:18 We must understand the connection
01:10:20 between business and nature and by extension,
01:10:22 between sustainable development
01:10:25 and environmental preservation
01:10:29 and how a low carbon economy
01:10:30 can still generate wealth, security and prosperity for all.
01:10:49 [ARMELLE SIDJE TAMO] In 2013, we want to see
01:10:52 45% of reduction of greenhouse gases,
01:10:55 and also the reduction of global warming by 1.5°C.
01:11:00 To reach those goals,
01:11:01 the first thing is to have a better collaboration
01:11:04 between the different limit actions.
01:11:06 You know, alone, we can go really quickly,
01:11:11 but together we can go really fast.
01:11:14 The second thing is to promote protection and actions.
01:11:18 For example, [inaudible] people
01:11:20 in their today climate actions
01:11:23 on their children tomorrow life.
01:11:26 We should encourage and invest
01:11:29 in circular economy, which is really important,
01:11:32 and also in sustainable solution. in circular economy, which is really important,
01:11:32 and also in sustainable solution.
01:11:34 For example, here in Cameroon,
01:11:36 we have a great solution that promote banana production
01:11:40 which stems into biodegrable packaging.
01:11:42 You know, this kind of suitable limit actions
01:11:48 will reduce deforestation and, on our way,
01:11:52 empowering [inaudible]
01:11:54 Thank you.
01:12:05 [MERIEM GRAY] Really exciting to see so much potential
01:12:08 to drive a new climate economy.
01:12:11 Turning our attention back
01:12:12 to the big climate moment that is coming up in two weeks,
01:12:16 we asked Alok Sharma, the COP26 President,
01:12:19 for his vision for success
01:12:21 and what he would like to see happen.
01:12:27 [ALOK SHARMA] In a matter of days,
01:12:29 the word will meet in Glasgow for COP26
01:12:32 This will be the most important
01:12:33 UN Climate Conference has been for years.
01:12:36 And the reason it is so important
01:12:39 is that time is running out
01:12:41 to limit the rise in global temperatures to 1.5°C,
01:12:44 as the world committed to do in the Paris agreement,
01:12:47 which said we would limit temperature rises
01:12:49 to well below 2°C,
01:12:50 aiming for 1.5°C.
01:12:53 Delivery of this goal requires finance.
01:12:57 So a key focus of the UK's COP26
01:13:00 is to get public and private finance
01:13:02 flowing to climate action.
01:13:04 And absolutely there has been some progress.
01:13:06 Every major MDB is now committed
01:13:09 to putting between 30 and 50% of their lending
01:13:12 towards climate projects.
01:13:14 And we are seeing increase in adaptation finance too.
01:13:18 With World Bank and the African Development Bank
01:13:21 committing to a balance
01:13:23 between adaptation and mitigation lending.
01:13:26 Development banks are coming up with new ways
01:13:29 of retiring and replacing coal, ensuring a just transition.
01:13:33 Almost every MDB has committed
01:13:35 to align their financing with the Paris Agreement by 2025
01:13:39 or indeed earlier, with some already there.
01:13:42 And the IMF's historic SDR allocation
01:13:45 has given countries more funds
01:13:47 to support green recoveries worldwide.
01:13:50 As I said, we have seen progress,
01:13:53 but there is much further to go,
01:13:56 particularly in using public funds
01:13:59 to mobilize private finance
01:14:01 at greater scale than ever before.
01:14:04 This, my friends, is urgent.
01:14:06 So I ask all MDB, governments
01:14:08 and private institutions here today
01:14:10 to come to COP26 with a plan of action to invest more,
01:14:15 to mobilize more and to finance more
01:14:18 in order to deliver the critical action
01:14:20 that we need in this decisive decade for climate.
01:14:23 Thank you.
01:14:35 [MERIEM GRAY] A big thank you to Alok Sharma
01:14:37 for the look ahead.
01:14:38 And if you want to learn more
01:14:40 about the WorldBank Group's work
01:14:42 on climate in the run up of COP26, about the WorldBank Group's work
01:14:42 on climate in the run up of COP26,
01:14:45 take a look at the resources section on World Bank Live site.
01:14:50 I'm joined again by my colleague Sri Sridhar.
01:14:53 Hi, Sri. So you've been looking and
01:14:56 monitoring social media.
01:14:57 So what this stood out for you?
01:14:59 [SRI SRIDHAR] Thanks, Maria. Yes.
01:15:01 So today people have been using the hashtag #voices4climate
01:15:03 and they've been commenting from all over the world,
01:15:06 including Venezuela, Saudi Arabia.
01:15:08 India, the United Kingdom,
01:15:10 Mexico, Uganda, Jordan, Germany and also the United States.
01:15:14 But what are they talking about?
01:15:16 So they're talking about how climate impacts
01:15:18 are already happening where they live.
01:15:20 But they're also talking about possible solutions.
01:15:23 And have projects to lower carbon emissions,
01:15:25 and also come climate change. And have projects to lower carbon emissions,
01:15:25 and also come climate change.
01:15:27 Now we've also been monitoring
01:15:28 the conversation across
01:15:29 our different social media platforms.
01:15:31 So let me give you a flavor
01:15:32 of what people are saying there on LinkedIn.
01:15:35 We have Scott Andrew Campbell, who says
01:15:37 that he believes climate action
01:15:38 is the most important approach
01:15:40 for creating a resilient recovery
01:15:42 and that failure to act will only increase the severity
01:15:45 of extreme weather systems,
01:15:47 which cost billions in relief aid
01:15:49 that could be spent making people's lives better.
01:15:52 On Facebook.
01:15:53 Rasopilo says that the climate crisis in Madagascar
01:15:56 is mostly the effect of bush fires,
01:15:59 and that the only solution
01:16:01 is sustainable agriculture and reforestation.
01:16:04 Finally, to round things out on Instagram,
01:16:06 Stacy Mwende says that greenhouse gas emissions
01:16:10 will start to go down anytime industries start to take action.
01:16:14 And I think her comment here
01:16:16 is really a great segway
01:16:18 into talking about our quiz today, right?
01:16:19 [MERIEM GRAY] I feel like we need
01:16:20 a little bit of a drum bit here.
01:16:22 Yes, I believe you do have results. Right?
01:16:25 [SRI SRIDHAR] I do. So let me tell you about the quiz.
01:16:27 We had 4072 people take today's quiz
01:16:30 and we asked, when do you think emissions will start to go down?
01:16:34 Now the options where have they already started to go down?
01:16:37 will they go down in 2030, in 2050,
01:16:40 or will they never go down now?
01:16:42 Before I reveal the correct answer,
01:16:44 let's see how people individually voted
01:16:46 for each one of these options. let's see how people individually voted
01:16:46 for each one of these options.
01:16:47 Now, with 22.3% people said
01:16:50 that they already have started to go down.
01:16:52 37.4% of folks say that it'll go down in 2030.
01:16:56 24.1% say 2050,
01:16:59 and 16.2% of people think that it will never go down.
01:17:04 Now what is your vote here?
01:17:06 [MERIEM GRAY] I was going with never.
01:17:08 - [SRI SRIDHAR] Never. Yeah. - [MERIEM GRAY] But clearly tricky question.
01:17:11 [SRI SRIDHAR] So the correct answer here is actually
01:17:14 A, they already have started to go down. [SRI SRIDHAR] So the correct answer here is actually
01:17:14 A, they already have started to go down.
01:17:17 And I think it's also important to note
01:17:19 that this is very reflective of this moment in time.
01:17:23 - Right. - [MERIEM GRAY] Okay. Alright. Yeah.
01:17:25 In fact, I think this number is probably reflective
01:17:30 of this downward trend triggered by COVID lockdowns,
01:17:34 and the economy is basically struggling.
01:17:37 But what we need to find really is the way
01:17:41 to reduce emissions that don't hurt
01:17:44 communities and people.
01:17:46 And they're sustainable in the longer term.
01:17:48 - [SRI SRIDHAR] Absolutely. - [MERIEM GRAY] Well, thank you.
01:17:50 - Thank you so much, Sri. - [SRI SRIDHAR] Thanks, Maria.
01:17:53 [MAN] As-Salamu-Alaykum.
01:17:54 I'm [inaudible] from Islamabad, Pakistan,
01:17:56 and you're watching the World Bank-IMF Annual Meetings.
01:18:05 [WOMAN] Hello, I'm [inaudible] in Markham, Papua New Guinea,
01:18:09 and you're watching the World Bank-IMF Annual Meetings.
01:18:16 [MERIEM GRAY] Okay. Now to answer some of the questions
01:18:19 we've been asking,
01:18:20 I'm pleased to welcome Axel Van Trotsenburg,
01:18:22 World Bank managing director for operations
01:18:25 and our senior advisor Stephane Hallegatte.
01:18:29 He's a senior advisor with our climate change group.
01:18:32 So, Axel, my first question to you. Earlier we spoke,
01:18:35 you mentioned that climate and development being connected
01:18:38 and how climate change and development reports
01:18:41 are basically forthcoming.
01:18:42 But the Bank has been connecting these dots
01:18:45 for a very long time.
01:18:46 So how has this been working out in practice?
01:18:49 Well, in practice is that we translate
01:18:52 that into our country programs.
01:18:55 And they have to be really tailor made that into our country programs.
01:18:55 And they have to be really tailor made
01:18:57 to individual country situations.
01:19:00 In the aggregate, to keep that in mind,
01:19:03 we have been scaling up our climate financing
01:19:06 for the last five years over about $83 billion.
01:19:10 We want to go 50% higher in the next five years.
01:19:13 And that translates in challenges,
01:19:17 whether you are in a middle income country
01:19:19 or a low income country.
01:19:21 Take Africa.
01:19:22 Africa is not producing in a major way
01:19:25 greenhouse gas emissions.
01:19:27 They're only responsible for less than 4%
01:19:30 of world emissions, yet they are disproportionately affected.
01:19:34 Look at the Sahel zone.
01:19:36 So you need to have tailormade solutions
01:19:38 for people living in the Sahel zone or in urban areas.
01:19:42 In those are areas, there's this urbanization
01:19:47 with massive emissions.
01:19:49 What can we do by having
01:19:51 more transport smart systems in place?
01:19:54 So what we are seeing is
01:19:56 we are translating that in concrete project
01:19:59 from agriculture to urban, we are translating that in concrete project
01:19:59 from agriculture to urban,
01:20:01 but also to policies,
01:20:02 because sometimes you have the wrong policies.
01:20:05 Take, for example,
01:20:06 fuel subsidies that actually promote a lot of fuel use.
01:20:10 If we can reduce that,
01:20:12 that may have an also very positive effect.
01:20:15 So it is the combination of these
01:20:20 interventions that can make a difference.
01:20:22 Alone, we cannot do it.
01:20:24 Climate change is the ultimate goal,
01:20:27 that this is a global responsibility,
01:20:29 and only globally we will be able to solve it.
01:20:32 Therefore, you have also the so called COP26,
01:20:36 this COP process where you bring the world community together.
01:20:40 We are one part of it from a multilateral part of it.
01:20:43 But you need to work with governments.
01:20:45 You need to work with the private sector.
01:20:47 You need to work with also multilateral organization,
01:20:50 and only to guess we can do it.
01:20:53 [MERIEM GRAY] So my next question for Stephane.
01:20:56 We have great questions coming from the audience.
01:21:01 Let's hear from Fotios Kalantzis,
01:21:03 who send us the video.
01:21:05 Let's take a listen.
01:21:07 [FOTIOS KALANTZIS] I'm Fotios Kalantzis, in Luxembourg.
01:21:09 And my question is, how can we make sure
01:21:12 that the transformation needed to tackle climate change
01:21:15 will not lead to increasing inequalities
01:21:18 within and across countries and sectors?
01:21:22 [MERIEM GRAY] Over to your, Stephane.
01:21:24 [STEPHANE HALLEGATTE] This is a really important question,
01:21:26 but I think we have to start from climate change itself
01:21:28 and the fact that if we don't act,
01:21:31 climate change itself will increase inequalities.
01:21:34 Among countries, we see
01:21:35 that poor countries are more affected,
01:21:37 and also within countries, with people in poverty
01:21:40 being disproportionately affected, too.
01:21:42 So we have to implement policies
01:21:44 to correct this impact on inequalities.
01:21:47 Climate action to reduce emissions
01:21:49 can reduce inequalities or increase them.
01:21:53 It's all a question of how they are designed.
01:21:55 And Axel mentioned the role of fossil fuel subsidies.
01:21:58 If you increase the price of energy,
01:22:00 of course, it will hurt people in poverty. If you increase the price of energy,
01:22:00 of course, it will hurt people in poverty.
01:22:02 But with all of the resources that you save doing that,
01:22:05 or the money you collect with carbon pricing,
01:22:08 you have resources that you can use or the money you collect with carbon pricing,
01:22:08 you have resources that you can use
01:22:09 to protect the poorest or make them better off.
01:22:12 And countries like Indonesia or Jordan have done exactly that.
01:22:16 They improve the incentives to reduce emissions
01:22:19 and they helped people in poverty
01:22:21 so that they reduced inequality.
01:22:23 So if you design them well, you can do both things at once.
01:22:26 [MERIEM GRAY] Thank you, Stephane.
01:22:28 And we actually sent another video question
01:22:31 from Gabriel Babadi.
01:22:32 Let's take a look, Axel
01:22:35 [GABRIEL BABADI] Gabriel Babadi from Chun Chon
01:22:37 in Republic of Korea.
01:22:40 And my question is,
01:22:42 how can this developed countries contribute to climate action?
01:22:49 [MERIEM GRAY] Well, that's over to Axel.
01:22:51 [AXEL VAN TROTSENBURG] I think they can, the least develop
01:22:54 can take action.
01:22:55 And we'll take action.
01:22:56 And particularly think of those countries
01:23:00 that have still not too much electricity.
01:23:03 Often the electrification rates are very low in this.
01:23:07 So how can you have a strategy
01:23:09 that permits more access to electricity,
01:23:12 but to go more on the renewable side,
01:23:15 so you can actually have a win-win situation,
01:23:18 where you actually look at a more renewable strategy
01:23:21 and have also access to electricity.
01:23:24 That's, for example, one example.
01:23:26 The other thing is, I mentioned this early,
01:23:29 is the desertification.
01:23:30 Maybe one has a possibility
01:23:34 to community driven development programs,
01:23:37 particularly involved in women.
01:23:39 And so, how you could actually design projects
01:23:44 that are allowing for sustainable agriculture,
01:23:47 but also protecting forests there? that are allowing for sustainable agriculture,
01:23:47 but also protecting forests there?
01:23:50 So you need there to design
01:23:52 and where people in the communities
01:23:54 can contribute directly to climate.
01:23:57 That's another important lesson.
01:23:59 We need to involve communities.
01:24:02 We need to call everybody involved.
01:24:04 It cannot just be just a government or one actor.
01:24:09 It will need to evolve all.
01:24:11 And that is also the key to success
01:24:14 in Africa, and those are low income countries.
01:24:18 Stephane, our next question is from Nigeria.
01:24:22 So [inaudible] from Nigeria,
01:24:24 asked another, one of the top questions we received.
01:24:27 How will the youth take the driver's seat in this campaign?
01:24:31 Young people are impressively committed to climate action,
01:24:33 but they often feel discouraged
01:24:36 because of the amount of work that needs to be done. but they often feel discouraged
01:24:36 because of the amount of work that needs to be done.
01:24:39 What can we focus on to remain positive?
01:24:42 [STEPHANE HALLEGATTE] Young people today are well informed,
01:24:46 very aware of the climate challenge,
01:24:48 so I don't think they need me or anyone else
01:24:51 to tell them what to do. so I don't think they need me or anyone else
01:24:51 to tell them what to do.
01:24:52 But I want to answer on the discouragement question.
01:24:55 Because that's a little bit
01:24:56 what we try to do with this event
01:24:58 is to show that this change is difficult.
01:25:01 It is ambitious, but it is possible
01:25:03 and we know where to go.
01:25:05 We have a strategy to achieve zero net emissions.
01:25:08 And one of the big obstacles on the way is discouragement.
01:25:12 I was in a high school recently and asking
01:25:15 if they believed we will manage to reduce emissions to zero.
01:25:18 Not one of them in the classroom said yes.
01:25:21 If we don't believe we can do it, we won't do it.
01:25:24 So it's really important to keep in mind
01:25:26 that it is a challenge, but we have solutions.
01:25:28 We have talked about them
01:25:30 and we should be able to do it,
01:25:32 if we get to work and we implement.
01:25:35 And by the way, this is true for climate.
01:25:37 But if you think about poverty or education,
01:25:39 it's also one of our big objectives, But if you think about poverty or education,
01:25:39 it's also one of our big objectives,
01:25:41 and it's the same thing.
01:25:42 If we believe we can do it
01:25:44 and we invest in it and we implement,
01:25:45 we can do it in the next decade.
01:25:48 [MERIEM GRAY] Thank you, Stephane.
01:25:49 Thank you, Axel. Thanks for joining us today.
01:25:51 [AXEL VAN TROTSENBURG] Thank you.
01:25:53 [MERIEM GRAY] We hope you've enjoyed
01:25:55 this journey with us.
01:25:56 We really wanted to bring down different stories,
01:26:00 prospective solutions that are helping us
01:26:02 to tackle the climate crisis.
01:26:04 And there is still a lot to watch back about this event,
01:26:09 as well as previous ones on economic growth
01:26:11 and ending pandemic. as well as previous ones on economic growth
01:26:11 and ending pandemic.
01:26:12 And we'll be back tomorrow
01:26:14 with last public event in these annual meetings
01:26:17 on the role of trade in supporting economic growth.
01:26:20 This is all at live.WorldBank.org.
01:26:24 And to bring us to a close, today we asked
01:26:27 young activists, students and climate Champions
01:26:30 who gathered a few weeks ago
01:26:32 at the Youth Climate Summit
01:26:34 to tell us we what they want to see happen
01:26:36 at COP26 in Glasgow.
01:26:51 - [MAN] Dear leaders. - [MAN] Dear leaders.
01:26:53 - [WOMAN] Dear leaders. - [WOMAN] the world is watching.
01:26:56 [WOMAN] At COP26, I want to see you...
01:26:58 [WOMAN] ...see decision making power
01:27:00 to those with lived experiences of the climate chaos.
01:27:03 [WOMAN] I want you to increase climate finance
01:27:07 for adaptation, for loss and damage and for mitigation.
01:27:10 [WOMAN] I want to see you
01:27:11 provide billions of dollars of grants [WOMAN] I want to see you
01:27:11 provide billions of dollars of grants
01:27:13 to developing countries.
01:27:14 [MAN] I want to see you commit to 1.5°C.
01:27:17 [MAN] To a abolish fossil fuels by 23.
01:27:20 [WOMAN] Bring forward female voices,
01:27:22 [MAN] Create a new normal.
01:27:23 [WOMAN] And just stick to your promises
01:27:25 instead of making new ones.
01:27:26 [WOMAN] I want to see that the perspective
01:27:29 of Indigenous and local communities
01:27:32 is incorporated in the indices.
01:27:35 [MAN] You must adopt the Paris rolbook
01:27:37 and place the most vulnerable in the center of your decisions. [MAN] You must adopt the Paris rolbook
01:27:37 and place the most vulnerable in the center of your decisions.
01:27:39 [MAN] I want to see action, ambition.
01:27:42 [WOMAN] I want you to hear young people's voice
01:27:45 [WOMAN] On how we can create
01:27:46 a more sustainable fute together.
01:27:48 [MAN] Promote social justice.
01:27:51 [WOMAN] It's too late to turn a blind eye.
01:27:54 [WOMAN] We see you. Do you see us?
01:27:56 [MAN] What has been done until now?
01:27:58 [MAN] Please make a decision based on your conscience.
01:28:01 [WOMAN] Set your sights high.
01:28:03 [WOMAN] Show us what real action looks like.
01:28:07 [MAN] The eyes of the world are on COP26.

Watch More Events

ANNUAL MEETINGS 2021

Tune in, ask questions, and share your views with participants from all over the world during the 2021 Annual Meetings of the World Bank Group and the International Monetary Fund (IMF).

Watch the World Bank Group public events:

Oct. 11: Growth in a Time of Crisis
Oct. 12: Civil Society Townhall
Oct. 12: Ending the Pandemic
Oct. 13: Opening Press Conference
Oct. 14: Making Climate Action Count
Oct. 15: Trade to the Rescue

Meet our Expert

Carolina Monsalve

Lead Climate Change Specialist, World Bank Group
Carolina Monsalve

Speakers

David R. Malpass

Former President, World Bank Group
@DavidMalpassWBG
Iván Duque

President of Colombia
@IvanDuque
Mark Carney

Co-Chair, Glasgow Financial Alliance for Net Zero (GFANZ) & UN Special Envoy for Climate Action and Finance
@MarkJCarney
Janet Yellen

U.S. Secretary of the Treasury
@SecYellen
António Guterres

Secretary-General, United Nations
@antonioguterres
Axel van Trotsenburg

Senior Managing Director, Development Policy and Partnerships, The World Bank
@AxelVT_WB
His Royal Highness The Prince of Wales

@ClarenceHouse
Gerd Müller

Federal Minister for Economic Cooperation and Development, Germany
Alan Jope

Chief Executive Officer, Unilever
@alanjope
Alok Sharma

COP26 President
@AlokSharma_RDG
Saleemul Huq

Director of the International Centre for Climate Change and Development, Bangladesh
@SaleemulHuq
Rosane Santos

Sustainability Director, Iguá S.A., Brazil
Samer S. Judeh

Co-founder and Chairman, Jordan Wind Project Company PSC
Hong Hoang

Founder and Executive Director, CHANGE, Vietnam
@honghoangchange
Inoussa Dambagi

Economist, Niger
Alicja Messerszmidt

Chairwoman, Trade Union of the ZE PAK Group, Poland
Yamini Aiyar

President and Chief Executive, Centre for Policy Research, India
@AiyarYamini
Armelle Sidje Tamo

Agricultural Entrepreneur, Cameroon
Chris Sacca

Founder and Chairman at Lowercase Capital & Lowercarbon Capital
@sacca
Annet Nakkide

Agricultural Engineer, Uganda
John Masha Ngowa

Barber and small business owner, Kenya

Hosts

Stéphane Hallegatte

Senior Climate Change Adviser, World Bank
@hallegatte
Meriem Gray

Communications Lead, Sustainable Development, World Bank
@meriemgray

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