Report: Countries Could Cut Emissions by 70% by 2050 and Boost Resilience with Annual Investments of 1.4% of GDP
Investing an average of 1.4% of GDP annually could reduce emissions in developing countries by as much as 70% by 2050 and boost resilience, according to a new report from the World Bank Group.
The analysis, Climate and Development: An Agenda for Action, compiles and harmonizes results from the Bank Group’s Country Climate and Development Reports, covering over 20 countries that account for 34% of the world’s greenhouse gas (GHG) emissions. It shows that investment needs are markedly higher in lower-income countries which are more vulnerable to climate risk, often exceeding 5% of GDP. These countries will need increased amounts of concessional finance and grants to manage climate change impacts and develop along a low-carbon path.
The report draws from the richness of the individual country reports and highlights lessons for countries on integrating climate and development objectives. It finds that this approach to climate action can help them manage the negative impacts of climate change, while generating positive impacts on GDP and economic growth, and delivering critical development outcomes such as reducing poverty. The key conditions for success include impactful reforms, improved allocation of public resources, higher mobilization of private capital, and significant financial support from the international community.
Photo courtesy of
Source: World Economic Forum (link opens in a new window)
- Energy, Environment
- climate change