Featuring our Managing Director of Development Policy and Partnerships Mari Pangestu, the World Bank Group is hosting this event to offer the opportunity for discussion of the best ways to operationalize its Climate Change Action Plan and to leverage partnerships to meet its stepped-up climate ambitions.
Countries need sustainable economic growth and good development outcomes more than ever, and climate change puts both at risk. And it is very clear that we cannot succeed in helping countries reduce poverty without rising to the challenges of climate change.
At the same time, climate action can create new economic opportunities and jobs. For example, investing in resilient infrastructure in developing countries could deliver $4.2 trillion over the lifetime of new infrastructure—an investment of $1, on average, yields $4 in benefits. A shift to low-carbon, resilient economies could create over 65 million net new jobs globally out to 2030.
Developing countries will need an estimated $4 trillion per year in investments up to 2030 to build infrastructure to meet their development needs, to build sustainable and resilient infrastructure, create new jobs, and where relevant leapfrog to low carbon solutions.