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Moving From Net Zero Strategies to Low-Carbon Development Policies and Investments

November 11, 2022
Virtual and in person at COP27 in Sharm El-Sheikh, Egypt
COP27 event - Moving From Net Zero Strategies to Low-Carbon Development Policies and Investments

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Developing and implementing Long-term, Low Emissions and Development Strategies (LTSs) are pivotal for countries to deliver on the climate targets under the Paris Agreement. For lower-income countries, LTSs can define a more sustainable and beneficial development pathway than continuing current development policies. In the runup to COP27, only 53 LTSs have been developed, mostly from high and upper middle income countries. More LTSs need to be developed to inform the design of NDCs and shorten the gap between national climate targets and the goals of the Paris Agreement. While some countries have developed LTSs that identify a possible low-carbon development pathway, translating these pathways into action is not automatic. Future iterations and new LTSs should more rigorously evaluate how different future conditions affect the opportunities and risks to countries’ development. LTSs should explore the costs and benefits across many different low-emissions pathways to best tailor a strategy for a countries’ specific needs. Lastly, LTSs should identify the needed policies and near-term investments that will provide a foundation for a robust and adaptable low-carbon transition.

A core priority for the World Bank Group’s engagement at COP27 is to highlight its assistance to countries in making these strategies ambitious, feasible, and inclusive. The World Bank is currently developing and testing an approach that includes cutting edge modeling and analytics to support countries in their formulation of LTSs that can inform action. The World Bank Group’s pilots are being advanced in collaboration with country officials, key stakeholders, and other development partners, including other MDBs and NGOs. Bank-supported LTSs will not only identify pathways for reducing emissions, but also evaluate the socioeconomic benefits and costs of a low-carbon transition that yield direct and indirect benefits to developing countries. 

This will be an open event, held as part of the World Bank Group’s program for the COP27 Decarbonization Day and feature experts and government representatives in the climate space. Specifically, the event will outline concrete actions the World Bank and key development partners are taking to help countries invest in decarbonization and climate-resilient efforts as it relates to their LTSs. Panelists will discuss the approach being used by the World Bank and other MDBs and global institutions and provide an interactive demonstration, drawn from the Bank’s support to LTS activities.

Join Us

  • When: 4:00-4:45pm EET (Egypt time)
  • Where: Webex
JOIN VIA WEBEX