The Long-Term Climate Strategies for Inclusive Growth and a Sustainable Recovery webinar was part of the IIF ESG Webinar Series, which was designed to promote understanding of the rapidly evolving landscape for ESG disclosure and to align efforts to measure and track climate finance.
Climate change will have an outsized impact on development. At the same time, actions to address climate change also present strategic investment opportunities for better development outcomes by unlocking sustainable, resilient, and inclusive growth. Mid-century climate strategies (i.e. looking out to 2050) can help countries align short- and medium-term policies with a long-term vision for low-carbon, resilient development.
A recently released report, The World Bank Outlook 2050: Strategic Directions Note, proposed four pillars that can drive a ‘whole of economy’ approach to reaching decarbonization by mid-century, namely, macroeconomic frameworks, national budgets, financial sector regulations and incentives, and systems planning. It also examined actions across sectors that will drive this forward: food systems, land use, energy, mobility, water systems, low-carbon cities, oceans, and digital transformation. These strategies can also help countries with the economic recovery from COVID-19, optimizing the use of public resources, as well as mobilizing private finance, and securing a safer climate in the longer term.
- Neha Mukhi, Senior Climate Change Specialist, World Bank
- Sonja Gibbs, Managing Director and Head of Sustainable Finance, IIF