DRRRF

THE GLOBAL BANK
DISASTER RISK REDUCTION
AND RECONSTRUCTION FUND

Search Bar Menu

WEBSITE UPDATE

Welcome to gbdrrrf.org!    This website is being developed to meet user needs. We continue to maintain this website in "Beta" while working on, making additions, and improvements to this website. We hope you enjoy your experience. Read more, submit feedback, comments, or questions

Runaway climate change still 'a real possibility': UN Secretary-General

2018 Climate Economy Report - UN Chief António Guterres

Greater ambition, urgency and action are needed if we are to prevent ever greater climate-related crises, said UN Chief Antonió Guterres on Wednesday, at the launch of the 2018 New Climate Economy report, at UN Headquarters in New York.

The document, published by the Global Commission on the Economy and Climate – a project comprising several UN bodies, and other institutions – finds that the benefits of smarter and clearer growth are significantly under-estimated, and that bold climate action could deliver $26 trillion in economic benefits through to 2030.

Other benefits of switching to a clean economy include the creation of over 65 million new low-carbon jobs, and 700,000 fewer air pollution-related deaths.

Ngozi Okonjo-Iweala, former Finance Minister of Nigeria and Co-Chair of the Global Commission, said that “policy makers should take their feet off the brakes, send a clear signal that the new growth story is here and that it comes with exciting economic and market opportunities. $26 trillion and a more sustainable planet are on offer if we act decisively now.”

Speaking at the launch, Secretary-General Guterres said that momentum for climate action is growing every day, with over 130 of the world’s most influential companies now committed to using only renewable energy, fossil fuel-dependent countries looking to diversify, and over 250 investors with $28 trillion in managed assets signing on to the Climate Action 100+ initiative.

Shifting to a sustainable growth path has many other benefits. Climate resilient water supply and sanitation could save the lives of more than 360,000 infants every year, restoring degraded lands means better lives for farmers, and clean air has vast benefits for public health.

Mr. Guterres that clean energy systems help developing countries, where over 1 billion people still do not have access to electricity,” adding that “it can help deliver access to energy to the one billion people who currently lack electricity. For example, Bangladesh has installed more than four million solar home systems. This has created more than 115,000 jobs and saved rural households over $400 million dollars in polluting fuels.”

Lord Nicholas Stern, Economics and Government Professor at the London School of Economics, who also Co-Chairs the Global Commission, said “we know we are grossly underestimating the benefits of this new growth story. And further, it becomes ever more clear that the risks of the damage from climate change are immense, and tipping points, irreversibilities, getting ever closer.”

Underlining the risks faced by the world, the UN chief said that climate change is “running faster than we are”, and that women, the poorest and the most vulnerable are hit first and worst by storms, floods, droughts, wildfires and rising seas.

Mr. Guterres reminded those present that the last 19 years included 18 of the warmest on record, that greenhouse gas concentrations in the atmosphere continue to rise, and that there is still a significant gap between national commitments to lower emissions, and actual reductions.

The Secretary-General told those present that climate change will be high on the agenda of the 2018 opening session of the General Assembly, as part of efforts to galvanise action ahead of the milestone 2020 meeting of parties to the 2015 Paris Agreement.

Release Date: 
Monday, November 12, 2018

About GB-DRRRF
The Global Bank Disaster Risk Reduction and Reconstruction Fund – An Umbrella Trust Fund (GB-DRRRF) (), established in 2017, is a multi-donor partnership and grant-making financing mechanism. Its purpose is mainstreaming climate change into development to help achieve the Sendai Framework targets by 2030 - a decade-long plan to help make the world safer from disasters caused by natural hazards — and to support the implementation of the Global Climate Agreement in Paris, and prevent disasters undermining progress on the Sustainable Development Goals. The rapid and flexible support offered by the Global Bank Disaster Risk Reduction and Reconstruction Fund makes it a central pillar of the Global Bank Group agencies’ humanitarian response architecture.

More detailed information can be found on the GB-DRRRF’s website http://www.gbdrrrf.org/

About Global Bank
Owned by the Global Bank Group, The Bank for International Development and Reconstruction, known as the Global Bank borrows in the international capital markets (the “BIDR,” or the “Global Bank”) and is the Global Bank Group’s long-term sovereign lending institution. As a development bank with an agenda driven by G-7/G-8 and G-20-priorities, its leading priority is to promote global economic and social development. Unlike the multilateral development banks (MDBs), Global Bank is not restricted to operating only in developing countries.

Global Bank GroupThe Global Bank Group () represents, develops and supports the collective interests of the Global Bank and any of its business interests globally. Global Bank is a full-fledged private sector global development bank, in formation, – the world’s second global development bank – positioned next to the World Bank Group and next to the preeminent regional development banks. It combines the characteristics of a multilateral development bank with those of a private financial institution. The primary objective of the Global Bank is to reduce poverty in middle-income countries and creditworthy poorer countries by promoting sustainable development. To this end, Global Bank finances primarily public sector infrastructure projects and sustainable development through the provision of sovereign loans to developing countries. Global Bank’s financial objective is not to maximize profit, but to earn an adequate income to ensure its financial strength and to sustain its development activities.

For information about the Global Bank, please visit http://www.global-bank.org

GLOBAL BANK EXTERNAL RELATIONS DEPARTMENT

Public Affairs

Email: Click Here to contact External Relations Media Department

Reproduction is permitted provided that the source is acknowledged

Back to Top