Stabilizing climate change entails reducing net emissions of carbon dioxide (CO2) to zero. This report outlines three principles to guide countries in their efforts to create a zero-carbon future: (a) planning ahead with an eye on the end goal; (b) going beyond carbon pricing with a policy package that triggers changes in investment patterns, technology, and behaviors; and (c) protecting poor people and avoiding concentrated losses. Although countries at different levels of income and with different endowments will adopt different strategies, all have a role to play. The aim of this report is to take this lofty goal of zero emissions by 2100 and examine what it means in terms of today’s policy making for development. It does not discuss whether or why to stabilize climate change, or at which level we should do so. Our starting point is the 2 degree C goal set by the international community. The authors begin by examining how planning can help lay the foundation for both a stable climate and a good development path. Next, the authors explore how countries can create the right enabling environment so that the needed technology, infrastructure, and financing are available. Finally, the authors discuss how countries can carefully manage the transition, given the vital role that the political economy will play.
Credit: The World Bank, Marianne Fay, Stephane Hallegatte, Adrien Vogt-Schilb, Julie Rozenberg, Ulf Narloch and Tom Kerr.
