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Industrial Decarbonization in East Asia: Transforming Energy, Finance, Technology, and Jobs
Get PDFThis report is the first to systematically address the complex challenge of industrial decarbonization in East Asia, one of the world’s most dynamic economic areas. Drawing on original data and in-depth assessments of three key economies - China, Indonesia, and Viet Nam, the report identifies viable technical pathways, unveils implementation challenges, and offers a comprehensive policy package to accelerate the transition to net-zero industry
Supporting Aging Populations through Digital Financial Inclusion Policies: Lessons from the Republic of Korea
Get PDFFinancial inclusion refers to expanding access to and use of financial services among traditionally excluded groups including low-income households, microenterprises, the elderly, and women. Digital financial inclusion helps advance financial inclusion by deploying digital financial services (DFS) to reach financially marginalized and underserved populations with a range of formal financial services suited to their needs. This study aims to examine the efforts of Korea in promoting digital financial inclusion, with a particular focus on digital financial literacy and consumer protection in the context of its aging population. The study assesses both the successes and shortcomings of these initiatives as well as the impacts observed along the way. Through analysis of the Korean approach, it provides practical insights that other countries can adopt to better prepare for demographic shifts, ensuring that elderly populations are not left behind in the process of financial digitalization. Furthermore, this study provides an overview of the principles established by international organizations to ensure fair access to and use of DFS, emphasizing the case of Korea in supporting access for financially vulnerable groups. Specifically, it examines current regulations, policies, and supervisory measures and suggests improvements for enhancing access to financial services for digitally vulnerable populations. Additionally, this study assesses regulations in light of balancing the objectives of sustainable operations of financial institutions with meeting the needs of vulnerable consumers in the digital financial environment. The study is organized as follows: chapter 1 gives introduction. Chapter 2 provides a comprehensive overview of global aging and trends in digital finance, highlighting the differences between developed and emerging economies. Chapter 3 explores the cases of Korea in the context of population aging and highlights efforts to enhance digital financial inclusion for the elderly. Chapter 4 provides lessons and policy implications for other countries
Green versus Conventional Corporate Debt: From Issuances to Emissions
Get PDFThis paper investigates how firms use green versus conventional debt and the associated firm- and aggregate-level environmental consequences. Employing a dataset of 127,711 global bond and syndicated loan issuances by non-financial firms across 85 countries during 2012–23, the paper documents a sharp rise in green debt issuances relative to conventional issuances since 2018. This increase is particularly pronounced among large firms with high carbon dioxide emissions. Local projections difference-in-differences estimates show that, compared to conventional debt, green bond and loan issuances are systematically followed by sustained reductions in carbon intensity (emissions over income) of up to 50 percent. These reductions correspond to as much as 15 percent of global annual emissions. Green bonds contribute to reducing emissions by providing financing to large, high-emitting firms, whose improvements in carbon intensity have significant aggregate consequences. Syndicated loans do so by channeling a larger volume of financing to a wider set of firms
Social Defaults and Plan Choice: The Case of Spousal Following
Get PDFThis paper studies how couples in the Medicare Part D program choose an insurance plan. Over 70 percent of enrollees choose the same plan as their spouse. Even among those with differing health care needs, well over half do so. Discrete- choice models suggest that beneficiaries place a value of more than $1,000 per year on being on the same plan as their spouse. Using a regression-discontinuity design, the paper shows that younger spouses disproportionately follow their older spouse’s plan choice. Joint plan choice contributes modestly to overall overspending, but increases costs substantially for couples with different cost-minimizing plans
Evidence from Dar es Salaam
Get PDFMany African countries are experiencing rapid urbanization. However, job creation has not kept pace, resulting in persistently high urban unemployment rates. Based on basic job search theory, the paper revisits the relationship between employment and transport connectivity at various levels, using data from Dar es Salaam, one of Africa’s fastest-growing developing cities. It shows that those who commute longer distances tend to earn higher wages. Therefore, enhancing the efficiency of urban transport systems is crucial. The paper also identifies variations in the relationship between wages and commute times across different transport modes. Commuters using motorized transportation, particularly private cars and taxis, generally earn more than those using nonmotorized transport. Hence, there is a potential risk associated with the overreliance on private transport modes. The gender wage gap persists in Dar es Salaam, but the positive effect of commuting on wages is greater for women, which can contribute to reducing the gap
Management of Earthquake Risk in the European Union
Get PDFSeveral countries in the European Union (EU) face significant earthquake risk, primarily due to seismic hazard levels and aging infrastructure. Unlike many other natural hazards, earthquakes occur without warning, limiting the ability to evacuate people and protect lives. At the same time, decades can pass between large earthquakes, leading to a decline in public awareness and policy attention to the risk. When large earthquakes do occur, they can cause significant damage and loss, often requiring several decades for the affected areas to recover. Between 2000 and 2020, earthquakes caused more than Euro 60 billion in direct damage to EU Member States, confirming their status as one of the costliest natural hazards in the region. All these factors make long-term planning, risk reduction, prevention, and preparedness efforts essential to reducing the impacts of earthquakes. This report summarizes the results of a rapid review of earthquake risk and risk management capacity in the EU, highlighting potential risk management priorities to inform policy dialogue and future research. The review considers capacity across multiple dimensions, including governance, understanding of earthquake risk, risk reduction and mitigation, early warning and public awareness, preparedness and emergency response, recovery and post-disaster financing, and cross-cutting topics such as social resilience and the role of the private sector. Each chapter reviews the current arrangements, key challenges, and opportunities across the EU for each of these dimensions, drawing on available information. This review aims to provide an EU-wide perspective on earthquake risk management, using EU Member States as examples but not providing an in-depth analysis of each EU Member State
FY 2025 Democratic Republic of Congo Country Opinion Survey Report
Get PDFThe Country Opinion Survey in DRC assists the World Bank Group (WBG) in better understanding how
stakeholders in DRC perceive the WBG. It provides the WBG with systematic feedback from national and
local governments, multilateral/bilateral agencies, media, academia, the private sector, and civil society
in DRC on 1) their views regarding the general environment in DRC; 2) their overall attitudes toward the
WBG in DRC; 3) overall impressions of the WBG’s effectiveness and results, knowledge work and
activities, and communication and information sharing in DRC; and 4) their perceptions of the WBG’s
future role in DRC
Health Policy Evaluation Guideline
Get PDFThis guideline serves as a foundational tool to support evidence-informed policymaking. It offers a practical and structured approach for evaluating health policies across their lifecycle—from early planning and implementation to long-term impact assessment. By embedding evaluation within the health policy
process, we can ensure that decisions are data-driven, resources are used efficiently, and programs are continuously refined to deliver the best possible outcomes for the Saudi population. The guideline draws on global best practices while remaining firmly grounded in the Saudi context. It provides clarity on the types of evaluations that can be conducted, the steps to follow, and the standards that must be upheld to ensure transparency, accuracy, and accountability. It also highlights the importance
of inclusive stakeholder engagement and the use of logic models to clarify assumptions and causal pathways
Unlivable: Confronting Extreme Urban Heat in Latin America and the Caribbean
Get PDFThis report examines the growing threat of heat in cities across Latin America and
the Caribbean, including the outlook for the coming decades; the implications for
urban infrastructure and for human health, well-being, and prosperity; and what urban leaders and national governments can do to mitigate the risks, particularly for the most vulnerable people
Exploring the Impacts of Social Protection on Social Cohesion in the Sahel
Get PDFIn the Sahel, vulnerability, poverty, competition over natural resources, and limited economic opportunities have weakened social bonds and fueled conflict, dynamics further exacerbated by climate change. Within this context, social protection emerges as a key tool to strengthen social cohesion by fostering institutional trust, community cooperation, and the relationship between citizens and the state. However, evidence on its impacts in the region remains limited and fragmented, particularly regarding different dimensions of cohesion (intra- and inter-community, as well as citizen–state relations). To address these gaps, UNICEF, the World Bank, and the World Food Programme are jointly implementing a research project that combines quantitative and qualitative methods to identify the causal links between social protection and social cohesion, while analyzing program design, implementation, and contextual factors that shape these outcomes in the Sahel.Dans le Sahel, la vulnérabilité, la pauvreté, la concurrence pour les ressources naturelles et les opportunités économiques limitées ont affaibli les liens sociaux et alimenté les conflits, des dynamiques aggravées par le changement climatique. Dans ce contexte, la protection sociale émerge comme un outil clé pour renforcer la cohésion sociale en favorisant la confiance institutionnelle, la coopération communautaire et la relation entre les citoyens et l’État. Cependant, les preuves sur ses impacts dans la région restent limitées et fragmentées, notamment concernant les différentes dimensions de la cohésion (intra- et inter-communautés, ainsi que les relations citoyens-États). Pour combler ces lacunes, l’UNICEF, la Banque mondiale et le Programme alimentaire mondial mettent conjointement en œuvre un projet de recherche qui combine des méthodes quantitatives et qualitatives afin d’identifier les liens causaux entre la protection sociale et la cohésion sociale, tout en analysant la conception, la mise en œuvre et les facteurs contextuels des programmes qui façonnent ces résultats au Sahel