For five years now, the global community has been observing the International Day of Forests on March 21. It is an occasion to celebrate the wide range of economic and social benefits that forests and trees bring to humankind. Since joining the World Cocoa Foundation (WCF) as its president in July 2016, I have been paying lots of attention to forests in West Africa, which is the world’s leading source of cocoa. These tropical forests, and others like them around the world, play an indispensable role in fighting global climate change by storing carbon. They also meet vital local needs, by cooling temperatures, helping generate rainfall, and purifying the air and water. Healthy forests help rural communities thrive. The paradox is that, over the last 10 years, life-giving forests in Côte d’Ivoire and Ghana were felled at an alarming rate as cocoa farmers, faced with challenges such as low prices, climate change, and low productivity, have expanded the land area on which they grow cocoa. The crop, essential for the chocolate and cocoa products that many of us love, is now seen as a major driver of deforestation in these countries.
But they also face a barrage of threats, from marine pollution and dwindling fish stocks, to the dramatic effect of climate change on coastal communities. Such challenges require new ways of thinking and innovative financing tools that address both the health and economic wealth of our oceans.
Seychelles is a good example of a country that is going beyond business as usual when it comes to preserving its natural assets. This deal raised funding to buy $21 million of Seychelles’ sovereign debt to reﬁnance it under more favorable terms, and then direct a portion of repayments to fund climate change adaptation, sustainable fisheries, and marine conservation projects – as well as to create an endowment for the benefit of future generations of Seychellois.
Many of today’s increasingly complex development challenges, from rapid urban expansion to climate change, disaster resilience, and social inclusion, are intimately tied to land and the way it is used. Addressing these challenges while also ensuring individuals and communities are able to make full use of their land depends on consistent, reliable, and accessible identification of land rights.
Photo: Grzegorz Zdanowski / Pexels Creative Commons
Some regard institutional investors—with their deep pockets—as the white knights filling the huge investment gaps in infrastructure development in emerging markets and developing economies (EMDEs). The IMF estimates that some 100 trillion dollars are held by pension funds, sovereign wealth funds, mutual funds, and other institutional investors. Unquestionably, the long-term nature of their liabilities matches the long-term financing requirements of infrastructure projects. So, it’s no surprise that institutional investors are seen as the white knights of infrastructure finance.
The informal sector is a large part of employment in African cities. The International Labour Organization estimates that more than 66% of total employment in Sub-Saharan African is in the informal sector. With a pervasive informal sector, city governments have been struggling with how best to respond. On the one hand, a large informal sector often adds to city congestion, through informal vending and transport services, and does not contribute to city revenue. Furthermore, informal enterprises are typically characterized by low productivity, low wages and non-exportable goods and services. On the other hand, the informal sector provides crucial livelihoods to the most vulnerable of the urban poor.
by sharpening our understanding of it, hearing directly from those affected by it and thinking collectively through what we must do to overcome it.
We all agreed, acting on a renewed understanding of fragility and what it means to vulnerable communities represents an urgent and collective responsibility. We’ve all seen the suffering. In places like Syria, Myanmar, Yemen and South Sudan, the loss of life, dignity and economic prosperity is rife.
Photo: Jorge Láscar | Flickr Creative Commons
The potential economic benefit from the cooperative use of the Nile’s water is estimated to be worth well over $11 billion—from irrigation and hydropower generation alone. But being able to harness those benefits is a far reach; the Nile Basin—a vital source of drinking water, irrigation, hydropower and transport—has a growing need for infrastructure investments to attain the full potential of this resource. Many of these infrastructure investments need to be coordinated between the basin’s 11 countries to ensure they are creating mutual benefits and are not causing harm to neighboring countries.
The Nile Equatorial Lakes Subsidiary Action Program - Coordination Unit (NELSAP-CU), one of the Nile Basin Initiative’s two investment programs, plays a prominent role in the region’s development. NELSAP supports poverty alleviation, economic growth, and the reversal of environmental degradation in the sub-region through cooperative development and water management. Between 2005 and 2015, we mobilized $90 million of cumulative finance for pre-investment programs (e.g. the Lake Edward and Albert Fisheries Project) and $930 million for investment projects (e.g. the Regional Rusumo Falls Hydroelectric Project).
Last week we saw two Ivorian women, Murielle Ahouré and Marie-Josée Ta Lou, fly past the finish line in a historic one-two finish in the 60 meters sprint at the World Indoor Championships in Birmingham, England while Burundi’s Francine Niyonsaba triumphed in a gritty 800 meters race. From the 60 meters to the 3000 meters, African women graced the podium or were not far from it, a testament to their athletic prowess.
Happy International Women’s Day! This is an important year to celebrate – from global politics to the Oscars last weekend, gender equality and inclusion are firmly on the agenda.
But outside movies and matters of government, we see the effects on gender equality every day, in how we live and work. One area we have data on comes from companies: what share of firms have a female CEO or top manager?
Only 1 in 5 firms worldwide have a female CEO or top manager, and it is more common among the smaller firms. While this does vary by around the world – Thailand and Cambodia are the only two countries where the data show more women running companies than men.
Better representation of women in business is important. It ensures a variety of views and ideas are represented, and when the top manager of a firm is woman, that firm is likely to have a larger share of permanent female workers.