Shock Waves: Managing the Impacts of Climate Change on Poverty
Ending poverty and stabilizing climate change will be two unprecedented global achievements and two major steps toward sustainable development. But the two objectives cannot be considered in isolation: they need to be jointly tackled through an integrated strategy. This report brings together those two objectives and explores how they can more easily be achieved if considered together. It examines the potential impact of climate change and climate policies on poverty reduction. It also provides guidance on how to create a “win-win” situation so that climate change policies contribute to poverty reduction and poverty-reduction policies contribute to climate change mitigation and resilience building. The key finding of the report is that climate change represents a significant obstacle to the sustained eradication of poverty, but future impacts on poverty are determined by policy choices: rapid, inclusive, and climate-informed development can prevent most short-term impacts whereas immediate pro-poor, emissions-reduction policies can drastically limit long-term ones.
Stéphane Hallegatte is a senior economist at the World Bank. His work includes climate change vulnerability and adaptation, green growth strategies, urban economics and environmental policies, and disaster risk management. He was lead author of IPCC reports, and co-led with Marianne Fay the World Bank report “Decarbonizing Development.” He was the lead author of “Shock Waves: Managing the Impacts of Climate Change on Poverty.”