Le Lézard
Classified in: Environment, Business
Subjects: FOR, ENI

Canada and the World Bank Group to support the clean energy transition in developing countries and Small Island Developing States



PARIS, Dec. 12, 2017 /CNW/ - At the One Planet Summit in Paris today, Canada and the World Bank Group announced a partnership to support effective climate action in developing countries in support of the Paris Agreement.  Climate change is affecting us today and its effects will accelerate unless we take action now. It is one of the defining issues of our time and we are taking action now for the future of our children and grandchildren.

Canada and the World Bank Group will support the acceleration of developing countries' transition away from traditional coal-fired electricity toward clean energy to power their fast-growing economies.  We will also support small island developing states in expanding their renewable energy infrastructure, helping to put them on a more sustainable pathway that's less polluting and ensures greater energy access.  

This work also includes sharing best practices on how to ensure a just transition for displaced workers and their communities to minimize hardships and help workers and communities benefit from new clean growth opportunities. The transition to a low-carbon economy should be inclusive, progressive and good for business. We will work together with the International Trade Union Confederation in this regard.

This effort builds upon a strong and successful partnership between Canada and the World Bank Group over many years on climate action, including through the Climate Investment Funds and the International Finance Corporation's Canada Climate Change Program.

This partnership reflects the broader commitment of the World Bank Group and Canada to support the transition to low-carbon and climate resilient economies, and to catalyze inclusive growth that works for everyone and job creation.

As one of the largest financers for renewable energy and energy efficiency for developing countries, the World Bank Group is playing a key role in facilitating the energy transition through lending, support to emerging clean energy sectors, and by working with governments to strengthen energy institutions, develop legal frameworks, and improve policies. Together with the United Nations, the Bank Group recently launched the Invest4Climate platform to mobilize additional finance for climate action, including for the energy transition. 

Quotes

"Phasing out coal power is the right choice for Canada, and I'm very pleased that we can also support developing countries in their transition to cleaner power. We can't forget workers and coal communities as we make this transition, and our new collaboration with the World Bank and the International Trade Union Confederation will provide analysis of best practices to Canada and others."

? Catherine McKenna, Minister of Environment and Climate Change

"Developing countries are facing every single day the destabilizing effects of climate change, with women and children facing disproportionate challenges. That is why Canada is committed to help empower the most at-risk communities to better adapt and mitigate the harmful impacts of a changing climate."

- Marie-Claude Bibeau, Minister of International Development and La Francophonie

"The Paris goals will be out of reach unless we can move quickly to help fast-growing economies shift towards cleaner energy sources. We are committed to working closely with Canada and other partners to accelerate this transition and help workers and communities affected in the process."

? President Jim Yong Kim, President of World Bank Group

"The energy transition from fossil fuels to renewables is urgent, but working families and their communities must have hope for a just transition that brings secure jobs and thriving communities."

? Sharan Burrow, General Secretary, International Trade Union Confederation

Quick Facts

Associated Links

News Release:  (December 12, 2017) ? Powering Past Coal
World Bank Group: Invest4Climate

Environment and Climate Change Canada's Twitter page

Environment and Natural Resources in Canada's Facebook page

 

SOURCE Environment and Climate Change Canada


These press releases may also interest you

at 17:25
Canada strongly supports the efforts of the United Nations and is committed to working together with its national and international partners to advance the implementation of the 2030 Agenda for Sustainable Development and to build a more peaceful,...

at 17:15
Pharmaceutical Care Management Association (PCMA) President and CEO Mark Merritt released the following statement on the Food and Drug Administration's (FDA) new Biosimilars Action Plan: "We applaud the FDA for taking important steps toward...

at 17:13
Stanley Black & Decker announced today that its Board of Directors approved a $0.03 increase of its quarterly cash dividend to $0.66 per common share. This marks the 51st consecutive annual dividend increase for the company. The dividend is payable...

at 17:10
Genworth Financial, Inc. today announced it would issue its earnings release containing second quarter results after the market closes on July 31, 2018.  A conference call will be held on August 1, 2018 at 9:00 a.m. (ET) to discuss the quarter's...

at 17:10
Athens Bancshares Corporation today announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per outstanding share of common stock.  The dividend will be paid on or about August 15, 2018 to stockholders of record as of...

at 17:06
CleverTap, the comprehensive global mobile marketing solution provider, today announced that it is now used by 4 of the top 5 media apps across app stores in India, to drive data-driven user engagement strategies at scale, including the popular media...




News published on 12 december 2017 at 08:13 and distributed by: