Earlier this week, the Julie Ann Wrigley Global Institute of Sustainability (GIOS) offered a workshop on sustainability and climate change to more than 30 participants from the World Bank Group (including IFC). The purpose of the workshop was to learn about the latest science of climate change, how climate change may affect the operations and priorities of the World Bank, and to explore how the World Bank could contribute to climate change mitigation, adaptation, and resilience. From ASU, 7 prominent scientists presented their views and research on climate change issues.
Jim Buizer (ASU sustainability scientist and director of the Center for Climate Adaptation Science and Solutions at the U of Arizona) kicked things off with a presentation on latest findings from climate change and drew on some of his own research on climate change adaptation and resilience, including some work in the impoverished Indian state of Bihar. The next session focused on carbon budgets and pricing. ASU professor Klaus Lackner, the Director of the Center of Negative Carbon Emissions, demonstrated that carbon intensity of production would have to increase by more than 7 percent a year to remain within a target of 450 ppm for atmospheric carbon dioxide concentrations—a very tall order that would likely necessitate the use of carbon capture and storage technologies. Professor Michael Hanemann outlined some of the failed attempts at carbon pricing schemes, including cap and trade, and the limitations of the integrated assessment models that couple economic with damage models. He saw a role for the World Bank to improve the integrated models and to incorporate social cost estimates of climate change. James Close, Director of Climate Change for the World Bank, announced to the group that the World Bank has arrived at a social cost figure of $30/ton of carbon.
Dan Bodansky, Foundation Professor in the ASU Law School, gave a lunchtime address on the lead up to the Conference of Parties (COP) meeting in Paris this December. His remarks included some predictions on the outcome of the meeting and some of the political obstacles to achieving binding agreements. One of the key differences from the Kyoto Protocol is the bottom-up approach of allowing countries to set their own goals for emissions, or Intended Nationally Determined Contributions. The question of equity and climate change was the focus of the next session led by Sonja Klinsky, faculty in the School of Sustainability. Dr. Klinsky pressed the important point that equity needs to be incorporated into all aspects of climate change, from examining drivers to impacts, whether discussing mitigation or adaptation. Failure to incorporate equity, she demonstrated, would increase vulnerabilities and undermine efforts to reduce climate change drivers and negative repercussions. Alan Miller, retired from IFC, concluded the day’s sessions with a discussion of climate finance, including innovative financial instruments, investment needs, and potential priority interventions to support changing demand. He also offered an excellent retrospective on IFC and WB efforts in climate finance and climate change research. The day wrapped up with a closed-door session for WB/IFC staff to assess the day’s discussions in relation to their needs and priorities and those of their clients.
The second day began with a session on the climate impacts in key sectors. ASU faculty Netra Chhetri focus on agricultural impacts with a special emphasis on adaptation in response to climate change, particularly in Nepal. GIOS Director Gary Dirks discussed the implications of climate change policy on the energy sector, threats of stranded assets, the role of renewables in climate change adaptation, and the politics of new utility models. Founding Director of GIOS and the School of Sustainability Chuck Redman focused on the risks to infrastructure from climate extremes and the need to build safe-to-fail resilient systems in anticipation of climate change, especially in critical urban environments.
The final session of the day was moderated by James Close (WB) and included Jennifer Hodbod, post-doctoral fellow at the Walton Sustainability Solutions Initiative, and Todd Brady, Global Environmental Director at Intel, as presenters and panelists. Jennifer focused on agricultural practices that can be undertaken immediately at little to no cost while Todd illustrated the power and innovation of private industry to mitigate and adapt to climate change. James led a rich discussion on how participants could incorporate what they learned during the two-day workshop into their everyday activities. Monali Ranade, Senior Environment Specialist at the World Bank, closed the session with a review of the objectives and key findings of the workshop.
From my perspective this was an excellent workshop. It was a wonderful opportunity to engage with an organization that is working on the ground on a daily basis and with significant resources to mitigate and adapt to climate change. I was very proud of the expertise ASU and GIOS faculty brought to the workshop. If the ideas generated from the workshop can be matched effectively to resources and practices, I see great potential for the World Bank and ASU to strategically align to address the grand challenges of climate change and sustainability.