Investment Rating - The report emphasizes the urgent need for sustainable cooling solutions in developing countries, highlighting a significant investment opportunity in this sector, with the market projected to grow to over $600 billion annually by 2050 [9][13][14]. Core Insights - The report identifies that approximately 3.5 billion people live in hot climates, with only 15% having access to air conditioning, indicating a substantial gap in cooling access that needs to be addressed [9][26]. - It stresses that sustainable cooling solutions are essential not only for comfort but also for health, food preservation, and productivity, particularly for vulnerable populations [10][13][30]. - The report outlines that the cooling market in developing economies is expected to double from around $300 billion to $600 billion by 2050, driven by rising temperatures and economic growth [14][15][39]. Summary by Sections 1. The Urgent Need for Sustainable Cooling Solutions in Developing Countries - The report highlights the critical need for sustainable cooling to address adaptation needs and meet Sustainable Development Goals, particularly in developing countries facing extreme heat [9][10][26]. - It notes that rising temperatures and insufficient cooling access lead to health risks and economic losses, emphasizing the importance of sustainable solutions [9][10][27]. 2. Diverse Sources and Sectors Imply Diverse Cooling Financing Needs - The report maps the investment landscape for cooling, estimating significant financing gaps that need to be filled to meet the growing demand for sustainable cooling solutions [10][18]. - It identifies various market segments, including residential and non-residential cooling, and emphasizes the need for tailored financing mechanisms to address these diverse requirements [18][19]. 3. Challenges and Response Strategies for Promoting Sustainable Cooling - The report discusses challenges to private investment in sustainable cooling, including regulatory barriers and lack of awareness about financing options [11][20]. - It proposes strategies to overcome these challenges, such as improving market data, promoting the business case for sustainable cooling, and enhancing policy frameworks [11][20][21]. 4. Financing Solutions and Innovations - The report outlines various financing mechanisms available for sustainable cooling, including revolving funds, risk-sharing facilities, and innovative business models [18][19][23]. - It emphasizes the role of development finance institutions in mobilizing private capital and supporting the transition to sustainable cooling solutions [20][23]. 5. Conclusions and Recommendations - The report concludes that achieving sustainable cooling requires coordinated efforts from governments, private sector stakeholders, and international organizations [11][21]. - It recommends enhancing awareness of business opportunities in sustainable cooling and prioritizing financing for passive cooling strategies [21][23].

Industry Research Summary Industry Investment Rating - The report does not provide a specific investment rating for the industry [1][2] Core Findings - Post-double selection Lasso (PDS Lasso) reduces standard errors by less than 1% compared to standard Ancova on average [2] - PDS Lasso does not select variables to model treatment in over half the cases [2] - The method typically selects very few control variables, with a median of 3 controls [9] - In over a quarter of cases, standard errors are slightly larger than with Ancova [9] Methodology and Application - PDS Lasso is commonly used in field experiments with small sample sizes (100-1,000 observations) [7] - The method is particularly relevant for developing countries where survey data often has an average attrition rate of 15% [8] - Researchers typically input a median of 182 controls, but PDS Lasso selects a median of only 3 controls [9] - The treatment regression step is more likely to select control variables when there is attrition [10] Performance Analysis - PDS Lasso leads to minimal changes in treatment estimates, with a median change of 0.01 standard deviations [9] - The median standard error with PDS Lasso is 99.2% of that with Ancova [9] - Cross-validation for selecting the penalty parameter can overfit and result in larger standard errors [11] - PDS Lasso sometimes ends up being less precise than Ancova due to failure to select key variables like the lagged dependent variable [10] Practical Recommendations - Researchers should include the lagged dependent variable in the amelioration set to prevent underfitting [54] - The number of control variables inputted should be judicious, avoiding a "kitchen sink" approach [59] - Missing values in control variables should be carefully handled to avoid sample size reduction [61] - When including treatment interactions, the interacting variable should be included in the amelioration set [75] Limitations and Considerations - PDS Lasso provides minimal power gains on average compared to Ancova [48] - The method is most beneficial when there is differential attrition greater than 5% [50] - Researchers should not anticipate large improvements in power from using PDS Lasso [76] - The double-selection step may not be necessary in many cases, as it often selects variables not strongly correlated with the outcome [69]

Policy Research Working Paper 10930 Public Disclosure Authorized Public Disclosure Authorized Disaggregated Impacts of Growth on Multidimensional Poverty Does the Source of Growth Matter? Francis Mulangu Mokhtar Benlamine Michael Keller Jean-Pascal Nganou Poverty and Equity Global Practice September 2024 Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10930 Abstract This paper presents comprehensive findings on the relationship between economic growth and poverty. Usi ...

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The tourism sector in Sierra Leone is identified as a significant contributor to plastic waste, particularly single-use plastics, which poses environmental challenges and necessitates a reduction strategy [9][10] - The guidelines aim to assist hotels and restaurants in Sierra Leone in developing their own single-use plastic reduction programs, thereby promoting sustainable tourism and economic diversification [15][14] - The report emphasizes the importance of a systematic approach to managing single-use plastic reduction, which includes self-assessment, planning, policy creation, and progress evaluation [18][39] Summary by Sections Introduction and Background - The production of plastic has increased significantly, leading to environmental issues, with only 15% of plastic waste being recycled globally [9] - The tourism industry is a major generator of plastic waste, particularly single-use plastics, prompting calls for action to reduce their use [9][10] Approach to Managing Single-Use Plastic Reduction - The report outlines a four-stage approach for hotels to manage single-use plastic reduction: self-assessment, creating a reduction plan, establishing a reduction policy, and measuring progress [18] - A total of ten steps are detailed for effective implementation of the reduction strategy [20] Guidelines and Best Practices - The guidelines provide practical advice for hotels to identify and reduce the most frequently used single-use plastic items, such as plastic bottles, bags, cutlery, and straws [11][56] - Strategies include removing unnecessary items, reducing consumption, replacing with reusable alternatives, and ensuring recyclability of remaining items [30][29] Monitoring and Evaluation - Regular monitoring of progress is essential to ensure targets are met and to identify barriers to success [52] - Evaluation of outcomes will help inform future reduction plans and assess the effectiveness of implemented strategies [53] Attachments - Attachment 1 includes a detailed list of frequently used plastics, self-assessment tools, and financial projection tools [55] - Attachment 2 provides alternatives and strategies for reducing specific single-use plastic items [56]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The transition towards sustainable development in India is expected to significantly alter economic activities and labor markets, impacting the demand for skills and creating both green and brown jobs [6][10] - Green jobs account for approximately 5.9% of total employment in India, while brown jobs represent about 4.6% [15][43] - The Skill Council for Green Jobs (SCGJ) has been established to identify green jobs and the necessary skills for these occupations, focusing on sectors such as renewable energy, waste management, and construction [13][15] Summary by Sections Introduction - Climate change is a critical issue affecting various aspects of well-being, prompting the need for sustainable development strategies [10] - The transition to sustainability will create new job opportunities while potentially displacing existing brown jobs [11][12] Measuring Green and Brown Jobs - Green jobs are defined as those that positively impact the environment, while brown jobs are associated with pollution-intensive industries [17][18] - The report employs a task content approach to measure green and brown jobs, which focuses on the specific tasks performed within occupations [20][23] Data and Definitions - The analysis utilizes data from the 2019-20 Periodic Labour Force Survey (PLFS), which is nationally representative and includes detailed labor market information [28][30] - The SCGJ's national definition of green jobs includes 44 specific occupations, while brown jobs are classified based on Vona et al.'s (2018) taxonomy [23][25] Patterns and Trends in Employment - Green jobs are predominantly found in construction (39%), manufacturing (21%), and agriculture (14%), while brown jobs are mainly concentrated in manufacturing (53%) and construction (30%) [49][51] - The percentage of green jobs has increased from 5% to 6% over the past decade, indicating a positive trend in sustainable employment [47] Worker Characteristics - Green and brown jobs are primarily held by younger, male workers, with green jobs showing a significant wage premium compared to brown jobs [15][64] - The gender disparity is notable, with 78% of green jobs and 79% of brown jobs occupied by men [65]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The paper investigates the impact of unexpected demand shocks on worker compensation, revealing that these shocks lead to higher average wages, particularly benefiting high earners within firms [2][9][39] - It highlights the role of managerial skill in the distribution of revenues from demand shocks, indicating that firms with highly skilled managers tend to share revenue windfalls more unequally among workers [10][40] Summary by Sections Introduction - The study aims to understand how firm-level revenue shocks affect wage setting and the mechanisms behind wage differentials across firms and workers [6][9] Data - The analysis utilizes a rich dataset from private sector firms in Portugal from 2006 to 2018, combining firm census data, export transactions, and employer-employee panel data [7][15][16] Methodology - A new methodology is proposed to identify unexpected demand shocks at the firm level, using forecast errors in GDP growth of export markets [20][21] Results - Unexpected demand shocks significantly impact sales, employment, investment, and average wages, with larger effects observed for negative shocks [9][32] - The analysis shows that wage increases occur mainly in the form of higher base wages and overtime pay, indicating a sharing of unexpected revenue with workers [10][33] - The distribution of wage increases is highly unequal, favoring higher earners within firms [39] Managerial Skill - The report examines how managerial skills influence the distribution of revenues from demand shocks, finding that firms with skilled managers tend to have better management practices and higher wage distributions for top earners [40][41][46]

Industry Overview - The study focuses on the financial distortions in capital markets between state-owned enterprises (SOEs) and private-owned enterprises (POEs) across 24 European countries from 2010 to 2016 [2] - SOEs have subsidized access to debt and equity compared to POEs, with a 1 percentage point increase in government stake reducing the implicit average finance cost by 0.01 percent [6][7] - The removal of SOEs from the market could lead to aggregate productivity losses of up to 40 percent due to their superior technical efficiency in some sectors [2] Core Findings - Targeted reforms that shut down poorly performing SOEs lead to aggregate total factor productivity (TFP) gains of up to 15 percent in every country [2] - Reforms that remove distortions before reallocating resources toward more productive firms can increase productivity by up to 83.7 percent [2] - SOEs are prevalent across competitive industries, with 70% operating in sectors like food, construction, and hospitality, typically dominated by private firms [6] Financial Distortions and Productivity - SOEs benefit from lower debt issuance costs and direct budget support, which distorts finance, innovation, and resource allocation [6] - The methodology used to measure financial frictions shows that SOEs face lower costs of finance, with a 1 p.p. increase in government shareholding reducing the cost of finance by 0.01% for non-publicly listed firms [11] - Publicly listed SOEs, however, face higher costs of accessing finance compared to non-listed SOEs [11] Sector-Specific Insights - The largest subsidies for SOEs occur in industries critical to the economy, such as financial services, electricity, water, and information and communications [11] - The fiscal burden of SOE financial subsidies ranges from 0.001% to 0.955% of GDP for the year 2016, with Slovenia experiencing the highest subsidy cost [11] Counterfactual Reforms - Shutting down all SOEs leads to productivity losses in some countries (e.g., Bosnia and Herzegovina with a 40% decline) and gains in others (e.g., Ukraine with a 35% increase) [12] - Targeted reforms that close only poorly performing SOEs result in TFP gains across all countries, with the highest gains in Germany (14.1%), Ukraine (11.1%), and Montenegro (8.4%) [14][86] - Combining targeted SOE reforms with financial market reforms that eliminate distortions can lead to TFP gains ranging from 26.6% in Austria to 85.5% in Ukraine [92] Data and Methodology - The study uses a novel firm-level database and implements Whited and Zhao's (2021) methodology to infer financial distortions [6][8] - The analysis leverages fixed-effect regressions to assess the role of state ownership in the cost of finance, controlling for firm size, age, productivity, and country-sector fixed effects [10] - The methodology assumes a CES production function to capture sector-wide financial frictions and firm-specific wedges [7][8]

Investment Rating - The report does not explicitly provide an investment rating for the industry analyzed Core Insights - The paper introduces the concept of "jobless development," highlighting that productivity growth in many emerging market and developing economies (EMDEs) is often negatively correlated with changes in the employment-to-population ratio [4][8][26] - It emphasizes significant differences in steady-state employment-to-population ratios across countries, particularly for women, where fewer legal protections correlate with lower employment ratios [4][9][30] Summary by Sections Introduction - The report discusses the dynamics of GDP per capita and its components, emphasizing the importance of the employment-to-population ratio in understanding economic development [8] - It contrasts the development trajectories of South Korea and India, noting that while both experienced GDP growth, South Korea saw an increase in employment ratios, whereas India experienced a decline [8][9] Methodology and Data - The analysis employs a two-stage methodology: first estimating steady-state employment ratios and then examining the correlation with institutional and policy factors [9][13] - The dataset includes 160 countries from 1960 to 2019, focusing on 103 EMDEs for the period 2000-2019, utilizing various data sources including the World Bank and ILO [22] First-Stage Regression Results - The results indicate that slower productivity growth and faster working-age population growth are associated with increases in employment-to-population ratios [23][24] - The analysis reveals that higher initial employment ratios correlate with slower increases in these ratios, suggesting conditional convergence towards country-specific steady-state levels [27][28] Second-Stage Regression Results - The second-stage analysis identifies several correlates of steady-state employment ratios, including trade openness, access to finance, and labor market flexibility [36][39] - It highlights that while few factors correlate with higher aggregate employment ratios, many are associated with higher non-agricultural employment ratios [36][37] Correlates Identified in the Literature - The report discusses structural factors influencing steady-state employment levels, such as trade openness, infrastructure investment, and labor market policies [37][39][40] - It notes that greater access to finance can stimulate investment and employment growth, while restrictive labor laws may hinder employment in the formal sector [40][42]

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10926 Effective Fuel Price in Reducing Emission Intensity A Panel Analysis for Brazil Ayan Qu Macroeconomics, Trade and Investment Global Practice & Africa Region September 2024 Public Disclosure Authorized Policy Research Working Paper 10926 Abstract This paper studies how effective an incremental change in the price of fuel, a proxy for fuel carbon tax, is in reducing the emission intensity ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10923 Thirsty Business A Global Analysis of Extreme Weather Shocks on Firms Roberta Gatti Asif M. Islam Casey Maue Esha Zaveri Middle East and North Africa Region & Planet Vice Presidency September 2024 Public Disclosure Authorized Policy Research Working Paper 10923 Abstract Using global data from the World Bank's Enterprise Surveys that includes the precise geo-location of surveyed firms, t ...