Long-term climate strategies that look ahead to 2050 can help countries unlock new economic opportunities while also ensuring a safer climate, says a World Bank report published recently.
The World Bank Outlook 2050: Strategic Directions Note proposes a whole-of-economy approach to reaching decarbonization by mid-century through actions across sectors, including food systems, energy, transport, water systems and low-carbon cities, said a World Bank press release.
“The World Bank is committed to supporting countries to build a resilient and sustainable future with long-term climate strategies as an integral element in their overall development plan,” said Mari Pangestu, the World Bank’s Managing Director of Development Policy and Partnerships.
“By planning ahead, these strategies can boost new economic activity and innovations, creating the jobs of the future, while also securing a safer climate especially for the poorest and most vulnerable.” Mari added.
The release said climate change will exacerbate existing development challenges, hitting the poorest the hardest, with critical implications for poverty, food security, health, quality of life, and economic productivity.
The report argues that long-term country-led decarbonization strategies are essential to securing better growth, climate, and development outcomes.
