The CCDRs are:
- Firmly anchored in a country’s development goals.
- Analytical reports reflecting the views of the World Bank Group and aimed at engaging with government counterparts, the private sector, academia, think tanks, civil society and other relevant audiences.
- It will initially be produced for 25 countries and will be rolled out to all WBG countries over the next four years.
What will success look like?
CCDRs help inform political and institutional reformsas well as public and private investments, which support high-impact climate action. For high-emission countries, this means integrating GHG reduction with development goals in their approaches, planning, budgeting and strategies while integrating adaptation and resilience considerations and the need for just transitions, supporting people negatively affected by climate action. For highly vulnerable countries, this means integrating approaches that help them better prepare for and adapt to the risks of climate change, while also considering the benefits of transitioning to a low-carbon economy.
As public documents, RMTCs can inform platforms for governments, their citizens, the private sector and partners to engage in the development and climate agendasupported by better coordination at national level.CCDRs can also flag high-impact actions that can attract concessional and commercial financing from development donors, including non-traditional donors, and the private sector.
How will CCDRs be produced?
The CCDRs are prepared with the expertise of the World Bank, the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA), as well as in coordination with the International Monetary Fund (IMF); Benefit from engagement with government counterparts, the private sector, academia, think tanks and civil society; Will be publicly available, produced for 25 countries this year and rolled out to all WBG client countries over the next five years.
What will CCDRs accomplish?
The CCDRs will help inform country development strategies in a way that integrates climate and development; Support countries in defining, updating and implementing their NDCs, identifying concrete ways to increase resilience and adaptation and reduce GHG emissions in a way that supports development; Help inform WBG country engagement products, such as Systematic Country Diagnostics (SCDs) and Country Partnership Frameworks (CPFs).
The launch of CCDRs can inform platforms for governments and private sector investors, their citizens and partners to engage in the development and climate agenda. CCDRs can support the coordinated activities of national climate platforms by bringing together private sector investors, alongside governments and MDBs, to catalyze new private financing activities and the strengthening of a long-term enabling environment. CCDRs can thus help direct concessional and private financing towards high-impact climate actions from development financiers, including non-traditional donors, and the private sector.
Examples of questions that RMTCs will consider:
Adaptation and resilience
What are the main risks of disasters and climate change in the country? What are the impacts of existing climate risks on poverty, distribution, employment and exclusion on households and communities? What are the risks for sectors that are important exporters, employers or value-added creators? What policy changes and investments should be prioritized to support the necessary adaptation and resilience efforts? What are the costs of these investments?
Low carbon transitions:
What are the costs, challenges and opportunities for climate action to reduce GHG emissions, increase productivity and growth and reduce poverty? How exposed and resilient are the country’s economy and public finances to a potential decline in demand for fossil fuels and the introduction of trade policies favoring low-carbon goods and services? What impact will the transition to a low-carbon economy have on people and what measures can be taken to support negatively affected segments of society? What policy changes and investments should be prioritized to achieve to a significant reduction in GHG emissions?
Finance the transition:
What are the costs of investing in climate action and how will they be financed? What would be the implications for public finances and debt sustainability? How can policy reforms inform and support this financing? What are the barriers to private sector investment in climate action, and what regulatory reforms and incentives are needed to facilitate and support private sector participation, including for capital mobilization?
RMTC Recommendations:
- The CCDRs will propose a set of selected climate-related recommendations and assess their costs and benefits for countries to achieve green, inclusive and resilient development.
- Recommendations should identify high-impact areas for action, with a focus on actions that can be implemented over the next 10 years.
- Given that financing is a critical challenge, it is particularly important to have recommendations that take into account spending and financing, where possible.
