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Marianne Fay, The World Bank, June 2012 INCLUSIVE GREENGROWTH The Pathway to Sustainable Development.

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Presentation on theme: "Marianne Fay, The World Bank, June 2012 INCLUSIVE GREENGROWTH The Pathway to Sustainable Development."— Presentation transcript:

1 Marianne Fay, The World Bank, June 2012 INCLUSIVE GREENGROWTH The Pathway to Sustainable Development

2 Sustainable development requires greener growth 2

3 Continued and more inclusive growth is needed GDP per capita still very low in developing countries: 1990: $1, : $2, : $4,700* 918 million people still expected to live in poverty by *: in $2010, using WB growth projections

4 4 Source: Rockström et al., Nature (2009) ? ? But growth has come at a heavy environmental price

5 Green growth is… …economic growth that is environmentally sustainable. Not a new paradigm, but aims to operationalize sustainable development by enabling developing countries to achieve robust growth without locking themselves into unsustainable patterns. Not inherently inclusive, hence the need for specific policies to ensure the poor benefit. 5

6 CAN WE GREEN GROWTH WITHOUT NECESSARILY SLOWING IT? Is it possible? 6

7 7

8 Y = f (A, K, L, E)Y = f (A, K, L) Manage the environment as “natural capital” 8

9 Loess plateau- before Loess plateau- after 9 Manage the environment as “natural capital”

10 Seize opportunities before they are gone… 10

11 INCLUSIVE GROWTH THAT IS EFFICIENT, CLEAN, AND RESILIENT And how to measure progress? 11

12 Challenges Cultural: moving beyond GDP Theoretical: capturing sustainability in a single indicator Policy: designing indicators that are useful Practical: data, data, data… 12

13 economic growth GDP p.c.

14 economic growth GDP p.c. poverty eradication no of people below $1.25 poverty line shared prosperity income growth of the bottom 40% + inclusiveness

15 economic growth GDP p.c. poverty eradication no of people below $1.25 poverty line shared prosperity income growth of the bottom 40% + inclusiveness Change in wealth change in wealth in $ p.c financial capitalphysical capitalhuman capitalnatural capital gross savings manufactured capital infrastructure health education climate air land water sustainability

16 Data for Cameroon, 2008 Calculating Change in Wealth per capita

17 Source: World Bank calculations based on World Bank data, 2013.

18 economic growth GDP p.c. poverty eradication no of people below $1.25 poverty line shared prosperity income growth of the bottom 40% + resource efficiency energy intensity water productivity green multi-factor productivity inclusiveness genuine savings change in wealth p.c financial capitalphysical capitalhuman capitalnatural capital gross savings manufactured capital infrastructure health education climate air land water sustainability

19 economic growth GDP p.c. poverty eradication no of people below $1.25 poverty line shared prosperity income growth of the bottom 40% + resource efficiency energy intensity water productivity green multi-factor productivity economic resilience risk (hazard x exposure x sensitivity) response (recovery, transformability) inclusiveness genuine savings change in wealth p.c financial capitalphysical capitalhuman capitalnatural capital gross savings manufactured capital infrastructure health education climate air land water sustainability

20 economic growth GDP p.c. poverty eradication no of people below $1.25 poverty line shared prosperity income growth of the bottom 40% + green policies and business environment environmental regulation environmental taxes and spending environmental markets and green investments innovation resource efficiency energy intensity water productivity green multi-factor productivity economic resilience risk (hazard x exposure x sensitivity) response (recovery, transformability) inclusiveness genuine savings change in wealth p.c financial capitalphysical capitalhuman capitalnatural capital gross savings manufactured capital infrastructure health education climate air land water enabling conditions sustainability

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