Carbon prices now apply to over a fifth of global greenhouse gases

PLUS: Transitions at the heart of the climate challenge. If you're having trouble reading this message, [click here]( [© World Bank Group]( [Carbon prices now apply to over a fifth of global greenhouse gases]( Carbon pricing generated $53 billion in revenue in 2020-21, but despite progress, carbon pricing efforts are not on track to meet Paris Agreement goals, according to the World Bank’s annual “State and Trends of Carbon Pricing” report. [READ REPORT]( Editor's Pick [Photo credit: Thep Photos/Shutterstock.com]( [Transitions at the heart of the climate challenge]( The World Bank Group is increasing its financing to help countries address the pandemic and climate change. To clean up energy systems, it will be important to drive action on multiple fronts including renewable energy, energy efficiency, and a just transition from coal. [LEARN MORE]( [Photo: © Shutterstock]( [Five reasons to be concerned about the shadow economy]( Informal activity—sometimes dubbed the “shadow economy”—is widespread in emerging market and developing economies. Its pervasiveness is of particular concern, as it may be harder for these economies to achieve the inclusive development needed to undo the damage of the COVID-19 pandemic. [HERE ARE 5 REASONS WHY]( Blog [© Shutterstock.com ]( [Leadership on Carbon Pricing in 2020-21]( "We are at a unique moment at which putting a price on carbon can power a resilient, inclusive, and sustainable post-pandemic recovery and help set countries on a low-carbon growth path." [READ BLOG]( Broadcast Series & Virtual Events [© World Bank Group]( [NEW PODCAST: As COVID-19 wreaks havoc on service workers, is the informal sector increasing global inequality?]( In this edition of The Development Podcast, the team takes a deep dive into a new analysis that has revealed that the informal sector – firms and workers outside the line of sight of governments in emerging market and developing economies – accounts for about a third of GDP and more than 70 percent of employment. [LISTEN NOW]( [© World Bank Group]( [UPCOMING: World Bank Group Youth Summit 2021: Resilient recovery for people and planet]( The theme for the 2021 Summit is Resilient Recovery for People and Planet, and at the heart of this theme is the opportunity for a global conversation that emphasizes the role of the youth in addressing the effects of climate change and examining the measures and opportunities for a resilient recovery for people and planet. Join us for a live conversation on June 9 and 10! [ADD TO CALENDAR]( In The News [Support for Economic Post-Covid Recovery Through the Competitiveness of Senegalese Micro, Small and Medium Enterprises]( [Three Priority Intervention Areas to Provide West Africans with Sufficient, Affordable, and Nutritious Food in the Long Term]( Jobs [External Affairs Officer, Livestream Specialist – Washington, DC]( [Financial Sector Specialist – Washington, DC]( Social Media ["It will help us to meet our basic daily needs" - Tarig is one of the many recipients of the #Sudan Family Support Program. Learn how this initiative is #ChangingLives:]( [We are working with partners on the largest vaccination effort in history to stop the #COVID19 pandemic. ➡️ Visit our new portal for project information, country-financing operations & vaccine-readiness assessments: ( Data Viz [Image title ]( Food commodity prices continued their upward momentum through early May 2021, driven by supply shortfalls, strong demand for feed commodities by China (especially maize and soybeans), and a weaker U.S. dollar. The World Bank’s Grain Price Index jumped to a 7-year high in April. The index rose nearly 18% from January to April 2021 and stands more than 25% higher than a year ago. [READ MORE]( Connect with us on social media! Accredited journalists may obtain advance access to reports and information by registering with the Bank's [Online Media Briefing Center]( a password-protected site for working journalists. Material in this newsletter is copyrighted. Requests to reproduce it, in whole or in part, should be addressed to pubrights@worldbank.org For more information visit our website: [worldbank.org](. [Access to Information]( [Other Bank Newsletters]( | [Privacy Policy]( [Unsubscribe from this list]( | [Update subscription preferences](