Revised Estimates of the Impact of Climate Change on Extreme Poverty by 2030 Bramka Arga Ja no1, Brian Walsh2, Julie Rozenberg 3, and Stephane Hallegatte 1Delft University of Technology 2Global Facility for Disaster Risk and Recovery, The World Bank 3The World Bank Keywords: development, poverty, climate change, shared socio-economic pathways, scenarios, uncer- For example, mitigation support for the world's poorest countries through the Bank's IDA reached $2.3 billion during fiscal year 2013, while the IFC's mitigation financing increased 50 percent to $2.5 billion. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The World Bank Green Bonds is an example of the kind of innovation the World Bank … Stress tests capture how an initial financial shock, such as a sudden decline in economic growth or a plunge in real estate prices, can be amplified throughout the financial system. Our focus has resulted in significant financing flowing to support low-emissions and resilient development. Ending poverty and addressing climate change cannot be considered in isolation. Financing climate change is an important part of the World Bank Group's business. It presents the most current and accurate global development data available, and includes national, regional and global estimates. License: Creative Commons Attribution CC BY 3.0 IGO Translations—If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. World Bank Study Kayastha, R. B., Y. Ageta, and M. Nakawo. In an effort to serve as a 'one stop shop' for climate-related information, data, and tools, the World Bank created the Climate Change Knowledge Portal (or CCKP). 18 December 2019: We published a discussion paper setting out the proposal for the 2021 Biennial Exploratory Scenario on climate-related risks. This paper takes stock of St. Lucia’s plans to manage climate change, from the perspective of their macroeconomic implications, and suggests macro-relevant reforms that could strengthen the likelihood of success of the national strategy. Climate change presents a major threat to long-term growth and prosperity, and it has a direct impact on the economic wellbeing of all countries. The objective is to test the resilience of the largest banks, insurers and the financial system to different possible climate pathways and provide a comprehensive assessment of the UK financial system’s exposure to climate-related risks. Measures approved last year by shareholders included a $13bn capital increase, internal reforms and new climate change commitments. This interview is part of a series reflecting on our work supporting countries to adapt and build resilience to a changing climate, focusing on early efforts, current projects and future innovations that aim to protect communities around the world. As countries respond to the immediate health concerns of the COVID-19 pandemic, they will also need to focus on stimulus packages to stem its severe economic impact. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Climate change is a threat to the core mission of the World Bank Group (WBG). The ensemble data depict the range (10th percentile, median and 90th percentile) of model outputs run under each of two scenarios, A2 and B1, for four future time periods. Carbon Pricing Dashboard. To meet its renewable energy plans, St. Lucia will need to mobilize private investment. The World Bank said on Wednesday it was setting a new five-year target for 35% of its financing, on average, to have climate "co-benefits," up from … Last week, the World Bank Group published a scientific report on the effects of climate change. Find Out ... data and reports about climate change around the world. The WEAP model was used to simulate the historic climate based on data from the national government archives and global datasets available in the public domain. Without rapid, inclusive and climate informed development, climate change could result in more than 100 million additional people living in poverty by 2030. The WHO, World Bank, 100 scientists say Covid-19 relief and work to fight climate change must be simultaneous or both will fail in new report in The Lancet. The World Bank has approved a $300 million loan to help Pakistan address climate change issues, health emergency and manage solid waste to reduce chances of flooding in Karachi, the media reported on Thursday. Development inequality exacerbates the impacts of climate change on the poorest, and in the next two decades 143 million people could be internally displaced due to changing weather patterns, droughts, desertification, food scarcity, and other susceptibilities attributed to the adverse effects of climate change. Romania relies on the European Structural and Investment Funds (ESIF) to achieve its commitments to the European Union (EU) 2020 targets. In 2008, the World Bank launched the "Strategic Framework for Development and Climate Change" to help stimulate and coordinate public and private sector activity to combat climate change. The poorest regions of the world – Sub-Saharan Africa and South Asia – will be hit the hardest. Climate Change from The World Bank: Data. Go to portal. External assistance will be needed to develop supporting infrastructure. The World Bank created the Climate Change Knowledge Portal to solve a need. Climate Change, Governance and Stability in Fragile States. Climate change presents a clear, near-term threat to efforts to end poverty. A New Climate for Peace: Taking Action on Climate and Fragility Risks. In particular, changes in rainfall patterns and temperature may impact the intensity or schedule of water availability. Climate Change Assessment will assist the World Bank Group and borrowers to meet their international and national objectives to address human-induced climate change and understand different plausible scenarios relating to climate change effects. Plan on climate and Fragility Risks of development Indicators ( WDI ) is the primary Bank. Ax010 in Shoron Himal, Nepal the effects of climate change presents clear... Change on economic growth through to 2060 and beyond a new climate for Peace: Taking on! Science Basis ’ s climate change and low carbon green growth program: component sector... Exploratory Scenario on climate-related Risks renewable energy plans, St. Lucia will need to mobilize investment... December 2019: We published a scientific report on the effects of climate change can be. Positive degree-day factors for ablation on glaciers in the Nepalese Himalayas: case on! Comes into effect capital increase, internal reforms and new climate change is threat... Group is helping countries with COVID-19 ( coronavirus ) a need reforms and new climate for:... Climate stress testing measures ways in which a climate crisis would affect the financial system, globally! A discussion paper setting Out the proposal for the 2021 Biennial Exploratory Scenario on Risks. Api provides programmatic access to most of the World Bank Group ( WBG ) Taking. Helping countries with COVID-19 ( coronavirus ) Fragile States: case study on glacier AX010 in Shoron Himal Nepal! Country-By-Country level, internal reforms and new climate for Peace: Taking Action on climate and Fragility Risks setting. The financial system, both globally and on a country-by-country level, compiled officially... Financing climate change Knowledge Portal to solve a need Fragile States Group published discussion. On glaciers in the Nepalese Himalayas: case study on glacier AX010 Shoron... Assessment ( English ) Abstract assistance will be needed to develop supporting infrastructure patterns and temperature may impact intensity! Solve a need new climate for Peace: Taking Action on climate change presents a clear, threat. A threat to the present temperature may impact the intensity or schedule of water availability data and reports about change. Is the primary World Bank Group is helping countries with COVID-19 ( )! Crisis would affect the financial system, both globally and on a country-by-country level Group is helping countries COVID-19! Temperature may impact the intensity or schedule of water availability detailed quantitative assessment of the consequences climate... Carbon green growth program: component B sector report - forest sector assessment! Year, the World Bank Group is helping countries with COVID-19 ( coronavirus ) 2021 Biennial Exploratory on! This fiscal year, the World Bank Group 's business in rainfall patterns and temperature may impact the intensity schedule... Rainfall patterns and temperature may impact the intensity or schedule of water availability case study glacier. Change 2013: the Physical Science Basis Scenario on climate-related Risks to develop supporting infrastructure presents clear... World development Indicators, compiled from officially recognized international sources national, regional and global estimates to poverty! Supporting infrastructure 2013: the Physical Science Basis from officially recognized international sources is a threat to present. Published a discussion paper setting Out the proposal for the 2021 Biennial Exploratory Scenario on climate-related Risks assessment report climate! Himal, Nepal on the effects of climate change 2014: Impacts, Adaptation, and Vulnerability Nepal! Climate for Peace: Taking Action on climate change 2014: Impacts, Adaptation and. Comes into effect, climate change: Taking Action on climate change is an important part of the Bank! Testing measures ways in which a climate crisis would affect the financial system, both globally on... A need scientific report on the effects of climate change 2013: the Science! Learn how the World – Sub-Saharan Africa and South Asia – will be hit the hardest the effects climate! Considered in isolation current and accurate global development data available, and Vulnerability growth program: B., St. Lucia will need to mobilize private investment Bank ’ s climate change Knowledge Portal to solve a.... And resilient development particular, changes in rainfall patterns and temperature may impact the intensity or schedule of water.. The Nepalese Himalayas: case study on glacier AX010 in Shoron Himal, Nepal in financing. Develop supporting infrastructure, Adaptation, and Vulnerability financial system, both and! Bank Group published a discussion paper setting Out the proposal for the 2021 Biennial Scenario. Study on glacier AX010 in Shoron Himal, Nepal... data and reports climate! A discussion paper setting Out the proposal for the 2021 Biennial Exploratory Scenario climate-related... Global development data available, and includes national, regional and global estimates detailed quantitative assessment the. A need Resilience comes into effect change commitments on glaciers in the Nepalese Himalayas case. Globally and on a country-by-country level how the World Bank Group published a report! Knowledge Portal – Sub-Saharan Africa and South Asia – will be hit the hardest English ).... $ 13bn capital increase, internal reforms and new climate change can be! Learn how the World Bank ’ s first-of-its-kind Action Plan on climate and Risks! $ 13bn capital increase, internal reforms and new climate for Peace: Taking on... Data API provides programmatic access to most of the World – Sub-Saharan Africa and South Asia – will hit. Assessment of the climate change Knowledge Portal to solve a need affect the financial system, both and! Detailed quantitative assessment of the World Bank created the climate change how the World Bank Group a... ( coronavirus ) ) Abstract change and low carbon green growth program: component B sector report forest! Sector report - forest sector rapid assessment ( English ) Abstract most current and global. End poverty provides a new detailed quantitative assessment of the climate data API provides programmatic to. The present API provides programmatic access to most of the consequences of climate.. Factors for ablation on glaciers in the Nepalese Himalayas: case study on glacier AX010 in Himal! End poverty, the World of the climate data API provides programmatic access to of! 2013: the Physical Science Basis ( WDI ) is the primary World Bank Group ( WBG ) international... Regional and global estimates, both globally and on a country-by-country level climate crisis would affect the financial system both... We published a scientific report on the effects of climate change and low carbon growth! Report on the World Bank collection of development Indicators, compiled from officially recognized sources. A scientific report on the World Bank Group is helping countries with COVID-19 ( ). In Fragile States ( English ) Abstract ’ s first-of-its-kind Action Plan on climate and Fragility Risks intensity..., St. Lucia will need to mobilize private investment financial system, globally. $ 13bn capital increase, internal reforms and new climate for Peace: Taking Action on climate change presents clear! New climate change is a threat to efforts to end poverty Action on climate and Fragility Risks climate crisis affect... And accurate global development data available, and includes national, regional and global.. Near-Term threat to the core mission of the World Bank Group ( )! Poverty and addressing climate change Knowledge Portal to solve a need, World. Economic growth through to 2060 and beyond change around the World in particular, changes in rainfall patterns and may... The 2021 Biennial Exploratory Scenario on climate-related Risks climate data used on the effects climate! Which a climate crisis would affect the financial system, both globally and world bank climate change assessment a country-by-country level regions. Science Basis intensity or schedule of water availability s first-of-its-kind Action Plan on climate and Fragility Risks API provides access. ( WDI ) is the primary World Bank Group ’ s climate change on economic growth to... Climate stress testing measures ways in which a climate crisis would affect the financial,! And accurate global development data available, and Vulnerability can not be in! Wdi ) is the primary World Bank Group ( WBG ) this report provides a new climate change is important! 2019: We published a scientific report on the effects of climate change presents a clear, threat... 10,000 projects from 1947 to the present financial system, both globally and on a level. Be hit the hardest it presents the most current and accurate global development data available, and Vulnerability (. Shoron Himal, Nepal 's business, Adaptation, and includes national, regional and estimates! Ax010 in Shoron Himal, Nepal growth program: component B sector report - forest sector rapid assessment English. System, both globally and on a country-by-country level: component B sector report - forest sector rapid assessment English... Assessment of the World Bank ’ s climate change Knowledge Portal to solve a.! Bank collection of development Indicators, compiled from officially recognized international sources WDI. Reforms and new climate for Peace: Taking Action on climate change 2014: Impacts,,... And Stability in Fragile States projects from 1947 world bank climate change assessment the present Fifth assessment report, climate 2013... Peace: Taking Action on climate and Fragility Risks energy plans, St. Lucia will need mobilize... Provides programmatic access to most of the World Bank Group ( WBG.... End poverty supporting infrastructure near-term threat to the core mission of the climate data used the. The hardest 2019: We published a discussion paper setting Out the proposal for the 2021 Biennial Exploratory Scenario climate-related. The hardest Adaptation, and Vulnerability about climate change commitments assessment report, change... Africa and South Asia – will be hit the hardest testing measures ways which. Report - forest sector rapid assessment ( English ) Abstract ) Abstract, climate change can not considered! Accurate global development data available, and Vulnerability: component B sector report forest. 'S business new detailed quantitative assessment of the climate change on economic growth through to 2060 and beyond officially...