Publication:
Toolkits for Policymakers to Green the Financial System

Loading...
Thumbnail Image
Files in English
English PDF (17.35 MB)
2,410 downloads
English Text (243.05 KB)
103 downloads
Published
2021-05-25
ISSN
Date
2021-06-08
Author(s)
Editor(s)
Abstract
The World Bank works with government policy makers, regulators, central banks, and supervisors in implementing reforms to build a sustainable financial system. Such reforms must align the financial system with the goals of the Paris Agreement on climate change and the Sustainable Development Goals (SDGs). This report aims to provide a comprehensive overview of the range of approaches that public authorities could take to promote green finance and manage climate-related and environmental risks. The toolkits presented in this report aim to help countries set clear and predictable strategies, increase the attractiveness of green investments, and better understand and manage climate-related and environmental risks. Targeted financial public authorities may include Ministries of Finance or related government agencies, as well as central banks and financial supervisors/regulators. The report is not designed to provide an in-depth analysis of each toolkit. Rather, it summarizes the key characteristics of each approach, provides key actions to drive implementation, and references other publications that provide more detailed guidance.
Link to Data Set
Citation
World Bank. 2021. Toolkits for Policymakers to Green the Financial System. © World Bank. http://hdl.handle.net/10986/35705 License: CC BY 3.0 IGO.
Associated URLs
Associated content
Report Series
Other publications in this report series
Journal
Journal Volume
Journal Issue

Related items

Showing items related by metadata.

  • Publication
    A Toolkit of Policy Options to Support Inclusive Green Growth
    (World Bank, Washington, DC, 2012) African Development Bank; Organisation for Economic Co-operation and Development; United Nations; World Bank
    In 2012, the Mexican Presidency of the G20 introduced inclusive green growth as a cross-cutting priority on the G20 development agenda. The second meeting of the G20 Development Working Group (DWG), hosted by the Government of the Republic of Korea, took place in Seoul the 19th and 20th of March 2012. As agreed during the first DWG meeting, this second meeting focused on the priorities for their presidency in the first half of 2012: infrastructure, food security and inclusive green growth (IGG). At its Seoul meeting, the DWG also agreed that IGG co-facilitators and relevant international organizations (IOs) should work together in 2012 to develop a nonprescriptive good practices guide/toolkit on enabling national policy frameworks for inclusive green growth to support countries who voluntarily wish to design and implement affordable and inclusive green growth policies, with the aim of achieving sustainable development and poverty alleviation. The toolkit is organized as follows. First, the necessity of applying the different tools in the context of a broad inclusive green growth strategy is stressed, and a harmonized framework combining approaches and tools identified by all four IOs is set forth. Second, the document offers an overview of key tools that can be mobilized to implement an inclusive green growth strategy. Quick technical descriptions of these tools are offered along with suggested sources for further details. Finally, capacity building and knowledge sharing initiatives are presented, with the Green Growth Knowledge Platform (GGKP) highlighted as a powerful collaborative tool to advance policies for inclusive green economies.
  • Publication
    Developing Monitoring and Evaluation Systems for the National Climate Change and Low Carbon Green Growth Strategy and Action Plan in Romania
    (World Bank, Washington, DC, 2015-11) World Bank
    In support of the Climate Change and Low Carbon Green Growth Program of Romania (LCGGP), the World Bank has prepared the current report with the aim of helping the Romanian Government to operationalize the strategic path chosen by the country for implementing its National Climate Change and Low Carbon Green Growth Strategy 2016-20302 (NSCC) and the associated 2016-2020 Action Plan for Climate Change (APCC). This includes some relevant institutional arrangements and Monitoring and Evaluation (M&E) activities for existing Climate Change (CC) related policies and measures, notably those derived from the United Nations Framework Convention on Climate Change (UNFCCC) and the Kyoto Protocol, plus the requirements for European Union (EU) Member States regarding the monitoring and evaluation of the EU-level climate and energy package and the Europe 2020 goals for a smart, sustainable and inclusive growth. It was recommended that the Romanian government should build upon current obligations for M&E of public policies, whilst recognizing that the M&E system initially established for the NSCC and APCC for Romania must not be considered as static, but rather as an on-going continuum that will evolve, expand and improve over time. The report highlights some key weaknesses in institutional capacity for CC-related M&E and identifies several sector-specific examples of areas for improvement. The report usefully reviews international good practices for the M&E of CC strategies and action plans under the headings of General good practice; Green Growth good practices; Special considerations for CC adaptation (including the selection of indicators), and; European examples (including short case studies on relevant M&E practices from Germany and France). In order to facilitate the necessary learning processes for policy-makers and other key stakeholders it is recommended that the Romanian government adopts a “theory-based” approach (in conjunction with the OECD DAC criteria) as the evaluation framework for the NSCC and APCC. The theory-based approach follows an iterative process of design, evaluation, and redesign based on lessons learned about whether specific interventions are successful or not, why they succeeded or failed and how they can be improved. The report concludes with numerous additional practical recommendations for development of a simple, affordable and cost effective M&E system for the NSCC and APCC. These recommendations are grouped into four categories: (i) general recommendations; (ii) recommendations for improving institutional arrangements; (iii) recommendations for developing a solid evaluation framework; and (iv) recommendations for reporting. Finally, to ensure a robust framework, the M&E and Reporting system should clearly define goals, indicators, responsibilities and communication strategies. It should facilitate continuous learning by policy-makers and other key stakeholders in order to underpin the long-term development of the knowledge and understanding needed to better design, implement and deliver future CC strategies and action plans for Romania.
  • Publication
    Global Monitoring Report 2008 : MDGs and the Environment, Agenda for Inclusive and Sustainable Development
    (Washington, DC : World Bank, 2008) World Bank; International Monetary Fund
    The global monitoring report 2008 comes at an important time. This year marks the halfway point in the effort to achieve the millennium development goals (MDGs) by 2015. This is also an important year to work toward a consensus on how the world is going to respond to the challenge of climate change, building on the foundation laid at the conference in Bali in December 2007. Successfully meeting this challenge will be essential for durable progress toward the MDGs and related development outcomes. In providing an integrated assessment of the agenda for development and environmental sustainability, this year's report offers timely input on issues that will be at the center of discussions at various international forums in coming months. The report's assessment of the MDGs at midpoint presents a mixed picture. The first MDG calls for reducing extreme poverty and hunger by half. Although the poverty goal is likely to be met at the global level, thanks to a remarkable surge in global economic growth over the past decade, there are serious shortfalls in fighting hunger and malnutrition, the "forgotten MDG." High food and energy prices have brought increased attention to these issues, but more is needed. Reducing malnutrition is the MDG with a "multiplier" effect, because it is essential to success on a number of other MDGs which are unlikely to be met, including maternal health, infant mortality, and education.
  • Publication
    Sino-Singapore Tianjin Eco-City
    (Washington, DC, 2009-11) World Bank
    China is experiencing rapid and large scale urbanization, and the resulting local and global urban environmental challenges are unprecedented. The Chinese Government has fully recognized these challenges and is aiming to promote more sustainable urbanization in line with the objectives of the eleventh five year plan, which calls for 'building a resource-conserving and environmentally friendly society'. Various initiatives are being pursued to support this objective, both at the national and local levels. At the local level, cities have responded by developing 'eco-cities', which aim to promote a more sustainable urbanization model. More than one hundred eco-city initiatives have been launched in recent years. One such initiative is the Sino-Singapore Tianjin eco-city. The purpose of this report is to review the Sino-Singapore Tianjin Eco-City (SSTEC) project from a comprehensive perspective with a view to achieving the following principal objectives: (i) create a detailed knowledge base on the project; (ii) provide policy advice on key issues, especially those related to the Global Environment Facility (GEF) project; (iii) estimate SSTEC's Greenhouse Gas (GHG) emission reduction potential; and (iv) contextualize the project among the broader ecological urban development initiatives in China. Broadening the World Bank's engagement beyond the GEF was assessed as important given the project's complexity, and its potential to shed light on China's sustainable urban development challenges
  • Publication
    Renewable Energy Toolkit Needs Assessment
    (World Bank, Washington, DC, 2005-08) Cabraal, R. Anil; Wang, Xiaodong; Heffner, Grayson; Zhang, Yabei
    There is now a strong foundation of good practice emerging from past and ongoing renewable energy (RE) projects, whether supported by the WBG or others, making it possible to develop and implement future projects faster, at lower costs, and with greater confidence in their overall sustainability. To further this process, the World Bank plans to develop an "Operational Guide to Design and Implement Renewable Energy," which will provide the necessary tools to assist Bank staff and member country personnel in improving the design and implementation of RE projects. This operational guide will help to significantly reduce project preparation cost and preparation time and increase project success. Developing the RE toolkit consists of two phases: phase I, a scoping study and need assessments, and phase II, developing the RE toolkit. This report summarizes the findings from phase I. It consists of the following four sections, which are the major activities undertaken under phase I : a) need assessment with the World Bank Group task managers; b) need assessment with RE industries and financial institutions; c) inventory research of previous work on toolkits related to rural energy and renewable energy; and d) development of a conceptual framework and a proposal for phase II.

Users also downloaded

Showing related downloaded files

  • Publication
    Breaking the Conflict Trap : Civil War and Development Policy
    (Washington, DC: World Bank and Oxford University Press, 2003) Collier, Paul; Elliott, V. L.; Hegre, Håvard; Hoeffler, Anke; Reynal-Querol, Marta; Sambanis, Nicholas
    Most wars are now civil wars. Even though international wars attract enormous global attention, they have become infrequent and brief. Civil wars usually attract less attention, but they have become increasingly common and typically go on for years. This report argues that civil war is now an important issue for development. War retards development, but conversely, development retards war. This double causation gives rise to virtuous and vicious circles. Where development succeeds, countries become progressively safer from violent conflict, making subsequent development easier. Where development fails, countries are at high risk of becoming caught in a conflict trap in which war wrecks the economy and increases the risk of further war. The global incidence of civil war is high because the international community has done little to avert it. Inertia is rooted in two beliefs: that we can safely 'let them fight it out among themselves' and that 'nothing can be done' because civil war is driven by ancestral ethnic and religious hatreds. The purpose of this report is to challenge these beliefs.
  • Publication
    Governance Matters VIII : Aggregate and Individual Governance Indicators 1996–2008
    (2009-06-01) Kaufmann, Daniel; Kraay, Aart; Mastruzzi, Massimo
    This paper reports on the 2009 update of the Worldwide Governance Indicators (WGI) research project, covering 212 countries and territories and measuring six dimensions of governance between 1996 and 2008: Voice and Accountability, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, Rule of Law, and Control of Corruption. These aggregate indicators are based on hundreds of specific and disaggregated individual variables measuring various dimensions of governance, taken from 35 data sources provided by 33 different organizations. The data reflect the views on governance of public sector, private sector and NGO experts, as well as thousands of citizen and firm survey respondents worldwide. The authors also explicitly report the margins of error accompanying each country estimate. These reflect the inherent difficulties in measuring governance using any kind of data. They find that even after taking margins of error into account, the WGI permit meaningful cross-country comparisons as well as monitoring progress over time. The aggregate indicators, together with the disaggregated underlying indicators, are available at www.govindicators.org.
  • Publication
    Design Thinking for Social Innovation
    (2010-07) Brown, Tim; Wyatt, Jocelyn
    Designers have traditionally focused on enchancing the look and functionality of products.
  • Publication
    Government Matters III : Governance Indicators for 1996-2002
    (World Bank, Washington, DC, 2003-08) Kaufmann, Daniel; Kraay, Aart; Mastruzzi, Massimo
    The authors present estimates of six dimensions of governance covering 199 countries and territories for four time periods: 1996, 1998, 2000, and 2002. These indicators are based on several hundred individual variables measuring perceptions of governance, drawn from 25 separate data sources constructed by 18 different organizations. The authors assign these individual measures of governance to categories capturing key dimensions of governance and use an unobserved components model to construct six aggregate governance indicators in each of the four periods. They present the point estimates of the dimensions of governance as well as the margins of errors for each country for the four periods. The governance indicators reported here are an update and expansion of previous research work on indicators initiated in 1998 (Kaufmann, Kraay, and Zoido-Lobat 1999a,b and 2002). The authors also address various methodological issues, including the interpretation and use of the data given the estimated margins of errors.
  • Publication
    Governance Matters IV : Governance Indicators for 1996-2004
    (World Bank, Washington, DC, 2005-06) Kaufmann, Daniel; Kraay, Aart; Mastruzzi, Massimo
    The authors present the latest update of their aggregate governance indicators, together with new analysis of several issues related to the use of these measures. The governance indicators measure the following six dimensions of governance: (1) voice and accountability; (2) political instability and violence; (3) government effectiveness; (4) regulatory quality; (5) rule of law, and (6) control of corruption. They cover 209 countries and territories for 1996, 1998, 2000, 2002, and 2004. They are based on several hundred individual variables measuring perceptions of governance, drawn from 37 separate data sources constructed by 31 organizations. The authors present estimates of the six dimensions of governance for each period, as well as margins of error capturing the range of likely values for each country. These margins of error are not unique to perceptions-based measures of governance, but are an important feature of all efforts to measure governance, including objective indicators. In fact, the authors give examples of how individual objective measures provide an incomplete picture of even the quite particular dimensions of governance that they are intended to measure. The authors also analyze in detail changes over time in their estimates of governance; provide a framework for assessing the statistical significance of changes in governance; and suggest a simple rule of thumb for identifying statistically significant changes in country governance over time. The ability to identify significant changes in governance over time is much higher for aggregate indicators than for any individual indicator. While the authors find that the quality of governance in a number of countries has changed significantly (in both directions), they also provide evidence suggesting that there are no trends, for better or worse, in global averages of governance. Finally, they interpret the strong observed correlation between income and governance, and argue against recent efforts to apply a discount to governance performance in low-income countries.