The challenge of low-carbon development : climate change and the World Bank Group - phase two

Unabated, climate change could derail development, with a one in four chance of a six-degree Celsius hike in temperature this century. Although industrialized countries are historically responsible for the build-up of heat-trapping greenhouse gases (GHGs), the United Nations' goal of stabilizing atmospheric GHG levels requires urgent and concerted worldwide efforts. Choices and investments made in the next two decades, in buildings, power plants, transport systems, and forest use, will irreversibly shape the global climate's future. The first volume of this climate change evaluation (Independent Evaluation Group, or IEG 2009) looked at World Bank Group (WBG) support for key areas of policy reform. This second volume focuses on two other areas of intervention: (i) development, transfer, and demonstration of technical and financial innovations; and (ii) finance and implementation.