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World Bank Statement : Ministerial Segment - Cop11- Montreal

By The World Bank

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Book Id: WPLBN0000050828
Format Type: PDF eBook
File Size: 0.1 MB
Reproduction Date: 2005
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Title: World Bank Statement : Ministerial Segment - Cop11- Montreal  
Author: The World Bank
Language: English
Subject: Economics, Finance & business, World Bank.
Collections: Economics Publications Collection
Publication Date:
Publisher: The World Bank


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Bank, T. W. (n.d.). World Bank Statement : Ministerial Segment - Cop11- Montreal. Retrieved from


Today we live in a world with a global Gross Domestic Product (GDP) of around US$38 trillion, split 80:20 (80 percent of the global population receiving 20 percent of this global income and vice-versa) and with 2 billion people under the poverty line. If developing countries achieve the Millennium Development Goals by 2015 and if we assume that by the middle of the century, 2050, we would ?complete? the job of eliminating poverty as we know it and if we review the minimum economic growth needed to achieve this, we are likely to be facing a world GDP of around US$140 trillion -- an additional US$100 trillion, which is more than double today?s! This wealth is likely to split closer to 60:40, and it is likely that the GDP per capita in developing countries will be twice that of today?s developed country economies. Global climate change threatens these prospects of poverty reduction and prosperity in developing countries. Reducing greenhouse gas emissions globally through the Kyoto Protocol represents a pioneer effort, but today we are confronted with the sobering reality that mitigation efforts have been modest on a global scale while evidence of climate change and increased climate risk to sustainable development and the poor is mounting daily. Given the World Bank?s mission of poverty reduction through sustainable development, we must now give appropriate weight to managing climate risk to the poor while expanding access to the global carbon market.


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