Africa Water, Sanitation & Hygiene November - December 2016 vol.11 No.6 | Page 4
Guest Editorial
Press Release
Statement from World Bank Group President Jim Yong Kim on the Entry
into Force of the Paris Climate Change Agreement
WASHINGTON, November 3, 2016 – The World Bank Group today released the following statement from World
Bank Group President Jim Yong Kim on the eve of the Paris Climate Change Agreement going into force:
“November 4, 2016, is a defining moment in human history. For the first time a global agreement to turn down the heat
on our planet enters into force.
The Paris Climate Change Agreement—ratified in record time by over 90 countries to date—will now be the instrument
around which our futures depend. However, even with the commitments made in Paris and encouraging action on the
ground, we will not meet our aspiration of limiting warming to 1.5 degrees unless we move faster and at the scale that
is needed.
As the world heads into COP22 in Marrakesh, we must regain the sense of urgency we felt a year ago. With each passing
day, the climate challenge grows. If we are to have any chance of meeting the goals enshrined in the Agreement, we need
to move quickly on at least four priorities for action.
Build climate ambition into the development plans of every country: Over the next 15 years, infrastructure
investments around the world will amount to over $90 trillion. Most of this will be in developing countries. Making
sure these investments are low-carbon and climate-resilient can promote sustainable economic growth, which is key
to achieving our goals of ending extreme poverty and boosting shared prosperity. Countries can now use the Paris
Agreement to drive climate-smart policy action, like carbon pricing, to attract the right infrastructure investments. In the
post-Paris world, growth cannot come at any cost.
Accelerate the transition to cleaner energy: Last week, the International Energy Agency boosted its five-year growth
forecast for renewables because of strong support in key countries and sharp cost reductions. In fact, renewables
surpassed coal last year to become the largest source of installed power capacity in the world. Building on this momentum,
we need to focus special attention and action on Asia, where energy demand is growing and some countries continue to
look to coal as the solution. Shifting those countries toward low-carbon energy paths, combined with action on phasing
down hydrofluorocarbons, could make all the difference. We need to help countries make the right choice between
high-carbon energy sources and renewable alternatives. We must ‘follow the carbon.’ That means we have to direct
concessional finance where it will make the greatest difference.
Help countries build resilience to climate shocks: As we said in Paris, without climate action at scale, more
than 100 million people could fall back into extreme poverty by 2030. That’s why we need to build the resilience of
communities, economies, and ecosystems. We have a good idea of what is needed—more efficient water supply, climatesmart agriculture, early warning systems, disaster risk reduction, and better social protection. We have a choice to make.
Otherwise, the poverty reduction gains we’ve made together will be lost.
Green the finance sector: We need a global financial system that’s fit for purpose to factor in climate risks and
opportunities. This is vital if we are to mobilize the trillions of dollars in private capital needed to address climate
change. More and more, we are seeing major institutional investors incorporating climate considerations into their
decision making. Still, many developing countries will continue to need significant amounts of concessional finance to
make good on their climate plans. Donor countries made a strong commitment in Paris. And now we must turn those
commitments into action.
What was agreed in Paris is now a defining principle of the World Bank Group’s work. Ending extreme poverty and
fighting climate change are inextricably linked. We cannot do one without the other.
Today is a day to celebrate. Tomorrow, we get back to work with an even greater sense of urgency.”
2
Africa Water, Sanitation & Hygiene • November - December 2016