A new World Bank Group report lays out three steps countries
can follow to reduce net emissions of greenhouse gases to zero and stabilize
climate change.
This include: Plan for the end goal, not just the short-term;
get prices right as part of a broad policy package that triggers changes in
investment and behavior; and smooth the transition for those most affected.
The report “Decarbonizing Development: Three Steps to a Zero Carbon Future” says the actions necessary to make the transition to zero net emissions are affordable if governments start today, but it warns that the costs will grow if action is delayed. Waiting until 2030 would increase the global cost by 50 percent.
"As science has indicated, the global economy needs to be overhauled to reach zero net emissions before the end of this century so we at the World Bank Group are increasing our focus on the policy options governments and businesses have now,” said World Bank Group Vice President and Special Envoy for Climate Change Rachel Kyte. “Our role is to help our country clients and others to make the shift to low-emissions development. Choices made today can lock in emissions trajectories for years to come and leave communities vulnerable to climate impacts. We will help support robust decisions when we can".
The report “Decarbonizing Development: Three Steps to a Zero Carbon Future” says the actions necessary to make the transition to zero net emissions are affordable if governments start today, but it warns that the costs will grow if action is delayed. Waiting until 2030 would increase the global cost by 50 percent.
"As science has indicated, the global economy needs to be overhauled to reach zero net emissions before the end of this century so we at the World Bank Group are increasing our focus on the policy options governments and businesses have now,” said World Bank Group Vice President and Special Envoy for Climate Change Rachel Kyte. “Our role is to help our country clients and others to make the shift to low-emissions development. Choices made today can lock in emissions trajectories for years to come and leave communities vulnerable to climate impacts. We will help support robust decisions when we can".
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