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Stranded Wealth of Nations?
Diversifying Assets of Carbon-Intensive Countries Under Uncertainty

by Grzegorz Peszko, Dimitri A. Zenghelis, Dominique van der Mensbrugghe, John Ward, Alexander Alexandrovich Golub, John Allen Rogers, Neha Mukhi, and Anne Carolin Schopp

Series:Climate Change and Development
ISBN 9781464807824
Code: #210782

Publication year: 2019

Cdn: $65.50; US: $44.95
Language: English
400 pages
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Due in April 2019.

This report analyzes the impacts that carbon-intensive countries may face from possible developments such as international climate policies, trade measures, transformational technology trends, and shifts in consumer preferences that can affect global demand for fossil fuels and the cost of burning them.

The report's framework offers new insights into understanding impacts and the most robust and sustainable coping strategies. Key messages include:
  • Countries have different carbon-intensive assets—resources in the ground and built infrastructure—that vary in their exposure and vulnerability to transformational trends.
  • Climate change adds new momentum to the traditional diversification debates in resource-intensive countries. The best hedging strategies are based on deep diversification not only of outputs and exports but also of the asset base—natural, physical, human, and intangible capital.
  • Countries will use a menu of policies to manage structural transformations including energy, fiscal, and climate policies as well as trade measures.
  • Anticipating or reacting to the climate transition shocks, some carbon-intensive countries may choose to be the early movers and divest quickly, some will choose to be the followers, while others may try the harvesters’ strategies. Each strategy has opportunities and risks.
Stranded Wealth of Nations?
Cdn: $65.50; US: $44.95
World Bank BookID: 116458 Added: 2016.1.6