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What is Green and Inclusive Growth ?

What is Green and Inclusive Growth ?. Caribbean Growth Forum June 18, 2012. CONTENTS. Sustainable development and green growth Urban challenges in LAC – an example of inclusive green growth challenges Inclusive green growth in practice The green energy challenges - Caribbean.

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What is Green and Inclusive Growth ?

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  1. Whatis Green and Inclusive Growth? Caribbean Growth Forum June 18, 2012

  2. CONTENTS • Sustainable development and green growth • Urban challenges in LAC – an example of inclusive green growth challenges • Inclusive green growth in practice • The green energy challenges - Caribbean

  3. A BAD ENVIRONMENT IS COSTLY Cost of Environmental Degradation (% of GDP equivalent) Average Source: Country Environmental Analyses, World Bank

  4. GREEN GROWTH IS… • Not a new paradigm, but aims to operationalize sustainable development • An approach for 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 … economic growth that is environmentally sustainable.

  5. GREEN GROWTH IS… • 1. Clean • 2. Efficient • 3. Resilient • But it also has to be Inclusive

  6. GREEN GROWTH IS… • Clean Efficient Resilient Inclusive • …but • What does this mean for policy makers? • For setting investment priorities? • For choosing among trade-offs?

  7. Since Rio, Latin America and Caribbean has served as the world’s laboratory for inclusive green growth • From Payments for Environmental Services to high production agriculture… • From community-driven slum upgrading to the world’s most extensive use of Bus Rapid Transit… • From the first regional catastrophic risk insurance facility to the lowest carbon energy matrix of the developing world. • But how do we mainstream?

  8. Sectoral Policies, Regulations, Investments, Incentives and Behavioral Changes

  9. URBAN AND INFRASTRUCTURE SERVICES: • Key Objectives for Green and Inclusive Growth

  10. LAC Regional Challenges Percentage Urban Population LAC 90 40 1950 2020

  11. URBAN FOOTPRINT • Exhausting land, straining service delivery Kingston Atlanta c.700,000 people (2011) 480 km2 Barcelona

  12. URBAN FOOTPRINT • Exhausting land, straining service delivery Kingston Atlanta Population equalized with Barcelona Barcelona

  13. URBANFOOTPRINT • SMALL AND GROWING ARE ALSO SPRAWLING FASTER Brazilian Cities Population Growth 2000-2008 Sprawl Index (2000)

  14. URBAN TRANSPORT • WE ALREADY OWN A LOT OF CARS

  15. …and growth in automobile ownership is skyrocketing Vehicles per thousand people LAC 300 Road congestion in Mexico City

  16. BOLSTERING RESILIENCEprotecting physical capital and enhancing competitiveness

  17. The challenges political economy entrenched behaviors limited and traditional financing

  18. THE REAL CHALLENGES: Political acceptability and governance failures

  19. THE REAL CHALLENGES: Social acceptability and entrenched behaviors

  20. ENERGY • Key Objectives for Green and Inclusive Growth Inclusive

  21. Energy in the Caribbean – Booming Demand • Average annual growth of 3.6 percent throughout 2028 • Doubling of demand between 2009 and 2028 • Individual country growth rates vary between 2.4 and 7.9 percent per year • Peak demand will grow in • * Dominican Republic from 2,300 MW in 2009 • to 4,400 MW in 2028 • * Jamaica from 680 MW to 1,500 MW

  22. Electricity – the Caribbean Fuel Source

  23. Existing Generation Technologies (MW)

  24. Energy Affordability - Cost Savings by moving from Base Case to Integrated Approach through 2028

  25. Green Energy - Investment Requirements (Million US$)

  26. INCLUSIVE POLICIES • - INCLUDE SMARTER SUBSIDIES AND TRANSFERS Average distribution of energy consumption subsidy benefits across 20 countries Richer 20% population 43% of benefits Poorer 20% population 7% of benefits

  27. Looking Forward • Caribbean countries face huge challenges to meet growing energy demand and diversify energy mix • Relying on diesel and HFO is the most costly solution • No silver bullet but requires a combination of fossil fuels and renewables to meet future demand • Pipeline gas, LNG, geothermal, wind should play a much more prominent role in future generation mix • The speed of renewables development will influence future demand for fossil fuel requirements

  28. Looking Forward • Integrating power systems, building submarine cable connections and sub-regional power markets are win-win solutions • Investment requirements are large but production costs saving are huge • A variety of private, public and IFI support will be necessary • Requires countries to improve legal, regulatory and institutional framework and cross-country cooperation

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