Using multiple sources of national- and firm-level data around the world, this paper investigates how the effects of the business environment depend on whether the measure is de jure or de facto, and how business environment effects differ by ownership and size. ... See More + The paper compares estimates of business environment effects from three data sources, and modifies the priors on the relative importance of various elements of the business environment. Among four aspects of the business environment, at least two sets are robust and a third set does not contradict the other two: access to finance, electricity, internet, and human capital. The effects of de jure business environment indicators on firm performances depend on measures of contract enforcement. Foreign-owned firms benefit more from the maintenance of physical safety and ease in obtaining construction permits, and gain competitive advantage in productivity when domestic infrastructure or access to finance is worse. Relatively small firms benefit more from corruption control, basic and modern infrastructure, human capital, and land access. Relatively large firms benefit more from physical safety. Access to finance is important for the expansion of smaller firms and the productivity of large firms.  See Less -

Document Type: Policy Research Working Paper Report No.: WPS9115 Document Date: JAN 21, 2020

Author: Zhenwei Qiang,Christine; Wang,He; Xu,L. Colin Disclosure Status: Disclosed

This paper examines the interaction between macro-financial and climate-related risks. It brings together different strands of the literature on climate-related risks and how these relate to macro-financial management and risks. ... See More + Physical impacts of climate change as well as the transition toward a resilient low-carbon economy pose significant challenges for macro-financial management, as they can damage the balance sheets of governments, households, firms, and financial institutions due to the adverse and possibly abrupt impacts on investment and economic growth, fiscal revenue and expenditure, debt sustainability, and the valuation of financial assets. In turn, macro-financial risks translate into weakened resilience to physical climate risks and constrained capacity for climate adaptation and mitigation efforts. The paper finds that many countries face the "double jeopardy" of simultaneous elevated climate-related and macro-financial risks. Reducing macro-financial risks in countries under double jeopardy is an important component of international efforts to tackle climate change to complement and support country-specific efforts.  See Less -

Document Type: Policy Research Working Paper Report No.: WPS9109 Document Date: JAN 14, 2020

Author: Feyen,Erik H.B.; Utz,Robert Johann; Zuccardi Huertas,Igor Esteban; Bogdan,Olena; Moon,Jisung Disclosure Status: Disclosed

ESS3 recognizes that economic activity and urbanization often generate pollution to air, water, and land, and consume finite resources that may threaten people, ecosystem services and the environment at the local, regional, and global levels. ... See More + The current and projected atmospheric concentration of greenhouse gases (GHG) threatens the welfare of current and future generations. At the same time, more efficient and effective resource use, pollution prevention and GHG emission avoidance, and mitigation technologies and practices have become more accessible and achievable.  See Less -

Document Type: Correspondence Report No.: 136581 Document Date: JAN 09, 2020

Author: Bumgarner,Kimberly Marie Document also available in: English, Russian, French, Arabic, Spanish Disclosure Status: Disclosed

ESS1 sets out the Borrower’s responsibilities for assessing, managing and monitoring environmental and social risks and impacts associated with each stage of a project supported by the Bank through Investment Project Financing, in order to achieve environmental and social outcomes consistent with the Environmental and Social Standards (ESSs). ... See More +   See Less -

Document Type: Correspondence Report No.: 136579 Document Date: JAN 09, 2020

Author: Bumgarner,Kimberly Marie Document also available in: English, Arabic, Russian, French, Spanish Disclosure Status: Disclosed

ESS4 recognizes that project activities, equipment, and infrastructure can increase community exposure to risks and impacts. In addition, communities that are already subjected to impacts from climate change may also experience an acceleration or intensification of impacts due to project activities. ... See More + ESS4 addresses the health, safety, and security risks and impacts on project-affected communities and the corresponding responsibility of Borrowers to avoid or minimize such risks and impacts, with particular attention to people who, because of their particular circumstances, may be vulnerable.  See Less -

Document Type: Correspondence Report No.: 136582 Document Date: JAN 09, 2020

Document also available in: English, Arabic, French, Russian, Chinese Disclosure Status: Disclosed

ESS5 recognizes that project-related land acquisition and restrictions on land use can have adverse impacts on communities and persons. Project-related land acquisition or restrictions on land use may cause physical displacement (relocation, loss of residential land or loss of shelter), economic displacement (loss of land, assets or access to assets, leading to loss of income sources or other means of livelihood), or both. ... See More + The term “involuntary resettlement” refers to these impacts. Resettlement is considered involuntary when affected persons or communities do not have the right to refuse land acquisition or restrictions on land use that result in displacement.  See Less -

Document Type: Correspondence Report No.: 136583 Document Date: JAN 09, 2020

Document also available in: English, Russian, French, Arabic, Chinese Disclosure Status: Disclosed

ESS5 recognizes that project-related land acquisition and restrictions on land use can have adverse impacts on communities and persons. Project-related land acquisition or restrictions on land use may cause physical displacement (relocation, loss of residential land or loss of shelter), economic displacement (loss of land, assets or access to assets, leading to loss of income sources or other means of livelihood), or both. ... See More + The term “involuntary resettlement” refers to these impacts. Resettlement is considered involuntary when affected persons or communities do not have the right to refuse land acquisition or restrictions on land use that result in displacement.  See Less -

Document Type: Correspondence Report No.: 136583 Document Date: JAN 09, 2020

Document also available in: English, Russian, French, Arabic, Spanish Disclosure Status: Disclosed

ESS5 recognizes that project-related land acquisition and restrictions on land use can have adverse impacts on communities and persons. Project-related land acquisition or restrictions on land use may cause physical displacement (relocation, loss of residential land or loss of shelter), economic displacement (loss of land, assets or access to assets, leading to loss of income sources or other means of livelihood), or both. ... See More + The term “involuntary resettlement” refers to these impacts. Resettlement is considered involuntary when affected persons or communities do not have the right to refuse land acquisition or restrictions on land use that result in displacement.  See Less -

Document Type: Correspondence Report No.: 136583 Document Date: JAN 09, 2020

Document also available in: English, French, Arabic, Chinese, Spanish Disclosure Status: Disclosed

ESS3 recognizes that economic activity and urbanization often generate pollution to air, water, and land, and consume finite resources that may threaten people, ecosystem services and the environment at the local, regional, and global levels. ... See More + The current and projected atmospheric concentration of greenhouse gases (GHG) threatens the welfare of current and future generations. At the same time, more efficient and effective resource use, pollution prevention and GHG emission avoidance, and mitigation technologies and practices have become more accessible and achievable.  See Less -

Document Type: Correspondence Report No.: 136581 Document Date: JAN 09, 2020

Author: Bumgarner,Kimberly Marie Document also available in: English, French, Arabic, Chinese, Spanish Disclosure Status: Disclosed

This ESS recognizes the importance of open and transparent engagement between the Borrower and project stakeholders as an essential element of good international practice. ... See More + Effective stakeholder engagement can improve the environmental and social sustainability of projects, enhance project acceptance, and make a significant contribution to successful project design and implementation.  See Less -

Document Type: Correspondence Report No.: 136588 Document Date: JAN 09, 2020

Document also available in: English, Russian, Arabic, French, Chinese Disclosure Status: Disclosed