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Public financial management (PFM) consists of all the government’s institutional arrangements in place to facilitate the implementation of fiscal policies. In response to the growing urgency to fight climate change, “green PFM” aims at adapting existing PFM practices to support climate-sensitive policies. With the cross-cutting nature of climate change and wider environmental concerns, green PFM can be a key enabler of an integrated government strategy to combat climate change. This note outlines a framework for green PFM, emphasizing the need for an approach combining various entry points within, across, and beyond the budget cycle. This includes components such as fiscal transparency and external oversight, and coordination with state-owned enterprises and subnational governments. The note also identifies principles for effective implementation of a green PFM strategy, among which the need for a strong stewardship located within the ministry of finance is paramount.
This publication provides an overview of Sustainable Development Goal (SDG) bonds as a mechanism to help mobilize the financing required to achieve the SDGs in developing Asia. The importance of development that provides for equitable economic growth and the sustainable use of natural resources has become increasingly apparent during the coronavirus disease (COVID-19) pandemic. COVID-19 has emphasized the need for a renewed focus on achieving the 17 Sustainable Development Goals (SDGs). In addition to its analysis of the current SDG bond market in the region, the publication proposes a new type of SDG bond that could contribute to accelerating sustainable development in the region.
This paper discusses the role of, and provides practical country-level guidance on, fiscal policies for implementing climate strategies using a unique and transparent tool laying out trade-offs among policy options.
The book’s primary intention is to serve as a roadmap for professionals working in developing countries interested in the Nexus Water-Energy-Food-Ecosystems (WEFE) approach. The book shows a multi-disciplinary approach, showcasing the importance of the proper use of Nexus WEFE when implementing certain development programs in regions around the globe. It can be presented as a manual for an individual that either wishes to implement intervention projects following the NEXUS approach or students interested in cooperation and development. The book begins with a general explanation of the theoretical concepts and implementation processes of Nexus WEFE and continues getting into case studies, explaining the importance of proper implementation and potential drawbacks and solutions to them. This book has a particular focus on the European Union cooperation policies when implementing such an approach in developing countries.
Big data is already being used to measure, monitor, and manage tourism development, but its potential remains to be fully exploited. This report discusses the trends, opportunities, and challenges in using big data and digitalization in the tourism sector. It highlights how big data is being leveraged for COVID-19 recovery and examines its relationship with statistical frameworks to better measure the economic, social, and environmental impact of tourism. Case studies of partnerships in Asia and the Pacific between the public and private sector demonstrate ways to tap big data.
At their High-Level Meeting (HLM) in 2020, members of the OECD Development Assistance Committee (DAC) set out a number of commitments and aspirations to align development co-operation with the objectives of international agreements to fight climate change and protect the environment. One year later, this report documents the individual and collective steps taken to give effect to the four voluntary commitments set out in the HLM Communiqué.
This paper updates estimates of fossil fuel subsidies, defined as fuel consumption times the gap between existing and efficient prices (i.e., prices warranted by supply costs, environmental costs, and revenue considerations), for 191 countries. Globally, subsidies remained large at $4.7 trillion (6.3 percent of global GDP) in 2015 and are projected at $5.2 trillion (6.5 percent of GDP) in 2017. The largest subsidizers in 2015 were China ($1.4 trillion), United States ($649 billion), Russia ($551 billion), European Union ($289 billion), and India ($209 billion). About three quarters of global subsidies are due to domestic factors—energy pricing reform thus remains largely in countries’ own national interest—while coal and petroleum together account for 85 percent of global subsidies. Efficient fossil fuel pricing in 2015 would have lowered global carbon emissions by 28 percent and fossil fuel air pollution deaths by 46 percent, and increased government revenue by 3.8 percent of GDP.
This topical volume covers the intersection between transport and climate change, with papers from the 'Transport & Climate Change' session of the RGS-IBG conference in London, September 2010. It considers the role of transport modes at varying spatial dimensions and a range of perspectives on the relationship between transport and climate change.
Since becoming president of China and general secretary of the Chinese Communist Party, Xi Jinping has emerged as China's most powerful and popular leader since Deng Xiaoping. The breathtaking economic expansion and military modernization that Xi inherited has convinced him that China can transform into a twenty-first-century superpower. In this collection, leading scholars from the United States, Asia, and Europe examine both the prospects for China's continuing rise and the emergent and unintended consequences posed by China's internal instability and international assertiveness. Contributors examine domestic challenges surrounding slowed economic growth, Xi's anti-corruption campaign, and government efforts to maintain social stability. Essays on foreign policy range from the impact of nationalist pressures on international relations to China’s heavy-handed actions in the South China Sea that challenge regional stability and US-China cooperation. The result is a comprehensive analysis of current policy trends in Xi's China and the implications of these developments for his nation, the United States, and Asia-Pacific.