Can developing countries reach net-zero emissions in a financeable and affordable way? World Bank’s InfraFinance practice manager Sebnem Madan explains how innovative financing can pave the road.
I was fascinated to read in The Washington Post that peatlands in the Democratic Republic of Congo (DRC), equivalent to the size of Iowa, hold at least as much carbon as the world currently emits in three years of burning fossil fuels. If DRC were to drain its peatlands to convert to farmland, as many developed countries have in past centuries, hundreds of millions or even billions of tons of carbon dioxide would be emitted. Seventy-three percent of Congolese live below the poverty line. Seventy percent of cobalt, essential for rechargeable batteries, comes from the country. According to a recent Dutch study, DRC ranks as the 12th most vulnerable country to climate change and the 5th least prepared. More
Updated: August 16, 2022