Jeff Tyson, Michael Igoe :
(From previous issue)
Those fundamental questions will continue to complicate an ongoing review process of the bank’s social and environmental safeguards, which has seen a long process of contentious consultation and revision. Safeguards protests have become a common theme at World Bank global gatherings. It will be worth watching what shape those protests take in Lima – and if they reshape the safeguards debate in any meaningful way.
4. Should we all celebrate World Bank Annual Meetings Day?
On Oct. 8, 1879, Peru and Chile clashed in the culminating naval battle of the War of the Pacific. Now Oct. 8 is a national holiday in Peru. This year, thanks to the annual meetings, so is October 9.
Lima’s traffic is infamous. The city is looking for public transportation upgrades to cut down on the congestion. But to ensure finance ministers, VIPs, press and politicians make it from meeting to meeting, Peru has declared an extra day of national holiday.
Let’s hope the Chileans don’t take offense.
5. How will the annual meetings set the stage for the Paris COP21 climate talks?
The 21st annual Conference of Parties in Paris is less than two months away and World Bank special envoy for climate change Rachel Kyte has been actively engaged in putting climate friendly development policies into practice.
Speaking at the World Bank’s headquarters last month, Kyte said that each country’s climate commitments, or “intended nationally determined contributions,” will influence the future of bank lending.
Kyte will be leaving her post at the bank following the anticipated climate gathering in Paris to join the U.N. Sustainable Energy for All Initiative as CEO.
Climate smart food, investing in renewable energy, and building sustainable cities feature as key topics of discussion in Lima; but the bank has also been criticized for the fossil fuel investments it continues to make in countries that lack readily available alternatives.
The past month has seen a flurry of climate activity as countries assemble and disseminate their individual climate plans. The World Bank’s leaders say they want the institution to be a climate action stalwart, but how hard will they push their clients when lending quotas are on the line?
(Jeff Tyson is a global development reporter for Devex. Based in Washington, DC, he covers multilateral affairs, U.S. aid and international development trends. Michael Igoe is a global development reporter for Devex. Based in Washington, D.C., he covers U.S. foreign aid and emerging trends in international development and humanitarian policy.)
