Investment Rating - The report does not explicitly provide an investment rating for the power market industry Core Insights - The design of power markets is crucial for addressing economic, social, environmental, and engineering challenges to deliver sustainable and reliable electricity at the lowest cost to consumers [2] - There is significant heterogeneity in electricity market designs globally, with no universal blueprint, emphasizing the importance of country-specific contexts [11] - The report utilizes a unique Global Power Market Structures Database covering 230 economies from 1989 to 2024 to analyze the evolution of power market structures [12] Summary by Sections Section 1: Introduction - Electric power systems began in the late 19th century, initially dominated by private investors, transitioning to state-owned monopolies by the mid-20th century [8][9] - The performance of integrated monopolies has been mixed, leading to reforms aimed at introducing market mechanisms to enhance efficiency and attract private investment [9] Section 2: Power Market Structure Design Options - Between 1989 and 2024, 158 countries transitioned from vertically integrated utilities (VIUs) to models incorporating private sector engagement, particularly in generation [15] - The four overarching market structures identified are: (1) VIU, (2) single-buyer model (SBM), (3) competitive wholesale markets, and (4) competitive retail markets [19] 2.1 Vertically Integrated Utility (VIU) Model - In 1989, 215 economies operated under the VIU model, serving 92% of the global population; by 2023, this reduced to 72 economies covering 7% of the population [21] - 84% of VIUs are state-owned, with only 11 economies privatizing their VIUs while maintaining them as the sole provider [24] 2.2 Single Buyer Model (SBM) - The SBM is currently the most prevalent structure, utilized by 87 countries covering 29% of the global population [30] - Variations of the SBM exist, including models where the single buyer retains ownership of generation assets or is detached from generation functions [33] 2.3 Wholesale Competition - 69 countries have some form of wholesale competition, covering 63% of the global population [43] - The majority of these countries allow bilateral contracting between generators and large consumers, with organized spot markets complementing this structure [44] 2.4 Retail Competition - 66 economies allow some degree of retail competition, enabling end-users to choose their electricity supplier [61] - Full retail competition is primarily found in advanced European countries, with technology advancements facilitating further competition in developing nations [67]

Policy Research Working Paper 10983 Public Disclosure Authorized Public Disclosure Authorized The Potential Cascading Impacts of Climate Change in Cambodia Hector Pollitt Migle Petrauskaite Public Disclosure Authorized Macroeconomics, Trade and Investment Global Practice November 2024 Public Disclosure Authorized Policy Research Working Paper 10983 Abstract This paper develops a "plausible worst-case" scenario for Cambodia to illustrate how a severe, 1-in-10-year flood could trigger cascading impacts, inclu ...

Policy Research Working Paper 10984 Public Disclosure Authorized Public Disclosure Authorized From Fiscal Cyclicality to Fiscal Stress The Role of Asymmetric Public Consumption Rigidities in Emerging Markets Daniel Riera-Crichton Pilar Ruiz Orrico Guillermo Vuletin Latin America and the Caribbean Region Office of the Chief Economist November 2024 Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10984 Abstract Macroeconomic textbooks warn that procyclical public spendin ...

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The expansion of high-speed railways (HSR) in China has significantly contributed to increasing the domestic value-added ratio (DVAR) in exports by enhancing firm linkages between domestic suppliers and exporters [2][10][11]. - A novel methodology developed in the report estimates firm-level DVAR using customs transaction data, allowing for a more accurate assessment of domestic value addition without relying on traditional industry input-output tables [11][27]. - The findings indicate that HSR facilitates the substitution of domestic materials for imported ones, thereby increasing DVAR, particularly for processing exporters and firms in the electronics sector [13][15][20]. Summary by Sections Introduction - The report discusses the role of HSR in China's infrastructure modernization and its impact on global value chains (GVCs), particularly in increasing DVAR through improved firm-to-firm linkages [10][11]. Methodology - A new approach to estimate DVAR is introduced, which relies solely on customs transaction data, eliminating the need for matching with industrial census data [11][27]. - The methodology allows for the estimation of the share of imports used for exports, providing a clearer picture of domestic value addition in exports [29][36]. Empirical Findings - The analysis shows that as the proportion of potential domestic suppliers connected via HSR increases, firm-level DVAR also rises, especially for firms engaged in processing trade [13][15][20]. - The report highlights that HSR connections significantly enhance domestic supply chain integration, leading to lower material prices and greater access to a variety of domestic inputs [13][15][20]. Background of HSR Development - The report outlines the historical context of HSR development in China, emphasizing its rapid expansion since 2008 and its role in reshaping transportation infrastructure [21][22]. Comparative Analysis - HSR is compared to other transportation modes, highlighting its unique attributes such as being passenger-dedicated and primarily used for business purposes, which facilitates better communication and business interactions [22][24]. Network Effects - The report discusses the network effects of HSR, noting that indirect connections through multiple lines significantly enhance the value of HSR for firms, impacting their DVAR positively [26][24]. Conclusion - The report concludes that HSR plays a critical role in advancing China's position in global value chains by facilitating domestic sourcing and enhancing firm-level DVAR through improved transportation links [20][18].

ARMENIA o of of Gr Public Disclosu Armenia Waste Sector Reform Plan May 2024 Disclosure Authorized THE WORLD BANK RWA Group Resources & Waste Advisory Group Armenia SWM Sector Assessment and Reform Plan Sector Assessment Report © 2024 The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved. This work is a product of The World Bank. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views ...

Investment Rating - The report does not explicitly provide an investment rating for the solid waste management (SWM) sector in Gyumri, Armenia. Core Insights - The municipal waste generation in Gyumri exceeds 30,000 tons annually, with organic waste constituting about 60% and recyclables around 20% of the total waste [17][39]. - The current waste management system is undergoing a transition, focusing on upgrading waste collection services and improving waste disposal methods [18][19]. - The financial sustainability of waste management services is a significant concern, with current waste fees being inadequate to cover operational costs [21][22][23]. Summary by Sections Executive Summary - In 2024, municipal waste generation is projected to exceed 30,000 tons annually, with organic waste being the predominant type [17]. - The waste management system is in transition, aiming to enhance efficiency through upgrades in collection and disposal methods [18]. Current Waste Management Operations - The waste collection system serves the entire population of Gyumri, with efforts to upgrade containers and collection vehicles [18]. - The waste disposal site has not been updated since the 1950s and does not meet modern engineering standards [19]. - Gyumri is participating in an EU-funded project to establish a plastic recycling system, with 240 containers for source separation [20]. Costs and Financing - The polluter pays principle is emphasized, requiring waste producers to cover the costs of waste management services [21]. - Current waste fees are insufficient, leading to reliance on community budget subsidies to cover operational costs [22][23]. - In 2023, waste fees for legal entities did not cover their share of operating costs, necessitating additional funding from other communal revenues [23]. Improved Waste Operations and Cost Implications - Four scenarios for improved waste management are analyzed, focusing on collection, disposal, and recycling [31]. - Scenario 1 suggests that upgrading the waste collection system could reduce costs by 34% [31]. - Scenario 2 proposes establishing a sanitary landfill, which could be financially sustainable without subsidies [31]. - Scenario 3 involves source separation of recyclables, which may require public subsidization if implemented before Extended Producer Responsibility (EPR) legislation is in place [31]. - Scenario 4 indicates that extensive treatment technologies are currently unaffordable, but regionalization of services could improve cost efficiency [37]. Greenhouse Gas Emissions Effects - Implementing Scenario 2 is estimated to reduce GHG emissions by approximately 429,000 tons over 15 years, with a marginal abatement cost of $36 per ton of CO2 equivalent [39]. Conclusions and Recommendations - The report recommends prioritizing the optimization of the waste collection system and establishing a sanitary landfill to improve waste management in Gyumri [38][42]. - Financial sustainability requires full cost accounting and adjustments to waste fees to cover service costs [41].

Investment Rating - The report does not explicitly provide an investment rating for the industry under discussion. Core Insights - The implementation of the EU's Carbon Border Adjustment Mechanism (CBAM) is expected to impact North Macedonia's economy, particularly in sectors with high carbon emissions such as cement, aluminum, iron, and steel [7][9][10] - The CBAM aims to address carbon leakage by imposing a carbon price on imports from countries without comparable carbon pricing policies, with full implementation expected by 2026 [8][10] - The World Bank's MINDSET model projects a decline in exports to the EU, particularly in the aforementioned sectors, with an overall economic output decline of less than 0.3 percent [10][28] - Specific sectors like aluminum and steel may experience output losses close to 2 percent, while other sectors may see losses of around 0.5 percent or less [11][30] - The introduction of CBAM could lead to approximately 1,500 job losses in North Macedonia, primarily affecting the manufacturing sector [11][37] Summary of the CBAM Regulation - The CBAM will initially cover imports of carbon-intensive goods at high risk of carbon leakage, including cement, iron and steel, aluminum, fertilizers, electricity, and hydrogen [20] - The regulation operates on a declarative basis, requiring EU importers to report verified GHG emissions associated with imported goods [20][21] - The CBAM will be implemented in phases, with a transitional period from October 2023 to December 2025, followed by a fully operational period starting January 2026 [21][22] Implications of the CBAM Regulation in North Macedonia - The economic implications of the CBAM for North Macedonia vary across products and sectors, with expected effects depending on production processes and trade dynamics [24] - The MINDSET model simulates impacts under various scenarios, indicating that North Macedonia's economy could face a slight decline in output and employment due to reduced exports to the EU [26][28] - The sectors most vulnerable to the CBAM include metal-producing industries, which account for a significant portion of North Macedonia's exports to the EU [27][39]

Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report emphasizes the detrimental effects of stigma and discrimination on individuals with mental health conditions, exacerbating marginalization and reducing access to care, education, and employment opportunities [17][28] - A global survey indicated that 80% of respondents believe stigma and discrimination can be worse than the mental health condition itself [17][28] - Effective interventions to reduce stigma are based on social contact principles, which should be culturally adapted [17][22] - The report highlights the feasibility of scaling up anti-stigma programs at the national level, showcasing successful case studies from various countries [18][19] Summary by Sections Executive Summary - Stigma and discrimination violate basic human rights and have severe negative impacts on individuals with mental health conditions, leading to social exclusion and reduced access to essential services [17] - The report synthesizes over 260 systematic reviews on stigma reduction, focusing on effective interventions [17][18] Importance of Stigma and Discrimination - Stigma and discrimination adversely affect social inclusion, leading to loss of rights and poor healthcare quality [28] - A significant portion of individuals with mental health conditions experience barriers to full citizenship due to stigma [28] Defining Stigma and Discrimination - Stigma is defined as a deeply discrediting attribute that reduces individuals' perceived value, while discrimination refers to unfair treatment based on specific characteristics [31] Evidence on Reducing Stigma and Discrimination - The report reviews systematic interventions aimed at reducing stigma, highlighting the importance of community-based approaches and the involvement of individuals with lived experience [39][40] - Structural stigma can be addressed through effective policies and community engagement, although more research is needed on cultural sensitivity and effectiveness [42][44] Overview of Case Studies - The report includes case studies demonstrating successful anti-stigma programs across various cultural contexts, showcasing the adaptability of evidence-based principles [19][20] Conclusions and Recommendations - Long-term programs are essential for sustainable stigma reduction, with specific recommendations for funding, implementation, and evaluation of these initiatives [24][25] - The report stresses the need for cross-sectoral support and the active involvement of individuals with mental health conditions in program design and delivery [26]

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - The report emphasizes the need for a holistic approach to manage Abandoned, Lost, and Otherwise Discarded Fishing Gear (ALDFG) across the entire life cycle of fishing gear, highlighting significant gaps in current policies and practices [26][28][46]. Summary by Sections Executive Summary - Global policies exist to address ALDFG but are often fragmented and lack coordination across the life cycle of fishing gear [26][27]. - The report outlines the importance of integrating various management approaches to effectively tackle ALDFG [28][46]. Solutions Across the Fishing Gear Life Cycle - Solutions to ALDFG can be categorized into prevention, mitigation, and remediation, with a focus on addressing issues at the design, usage, and end-of-life stages [54][55][56]. - Prevention measures are prioritized as they are often more cost-effective in reducing ALDFG [57][58]. Existing Initiatives and Potential Opportunities - The report discusses the establishment of an Intergovernmental Negotiating Committee (INC) to develop an International Legally Binding Instrument (ILBI) on plastic pollution, which includes addressing ALDFG [27][40]. - Collaboration among various stakeholders is essential for effective management of ALDFG [36][46]. Key Considerations and Implications for ILBI - The report identifies key considerations such as harmonization of management authorities, collaboration among stakeholders, and the need for regulatory measures and standards development [36][46]. - Financing solutions are necessary to support the adoption of alternative fishing gears and waste management processes [36][46]. Design and Production Stage - The design and production of fishing gear should incorporate considerations for its eventual disposal, promoting durability and recyclability [71][72][74]. - Innovative designs, such as gear with tracking capabilities, can help prevent loss and abandonment [75][76]. Usage Stage - Effective fisheries management measures, including gear restrictions and education, are crucial to prevent ALDFG during the usage stage [31][31][33]. - Best fishing practices and awareness training can significantly reduce the occurrence of ALDFG [31][33]. End-of-Life Stage - Providing feasible waste management options for end-of-life fishing gear is essential to prevent discards [32][33]. - Circular business models can create markets for end-of-life fishing gear and facilitate the retrieval of ALDFG [32][33].

Investment Rating - The report does not explicitly provide an investment rating for the industry. Core Insights - Thailand is transitioning to a Bio-Circular-Green (BCG) economy to address economic challenges, climate vulnerability, and environmental degradation [34][38]. - The BCG+ model updates the original BCG framework, integrating climate resilience and sustainable resource management into economic development strategies [37][38]. - The agriculture and fishing sectors are particularly vulnerable to climate change, with potential production losses estimated between $2.9 billion to $5.4 billion for agriculture and up to $26.2 billion for fishing [44][50]. - Without proactive measures, Thailand could face up to $553 billion in GDP losses by 2050 due to ecological tipping points like deforestation and flooding [46][51]. Summary by Sections Executive Summary - Thailand's economic growth is slowing, and the country faces significant climate risks and environmental degradation [33]. - The BCG model aims to leverage Thailand's biodiversity and technology for sustainable growth [34]. - The report emphasizes the need for a comprehensive approach to climate adaptation and mitigation, highlighting the economic implications of climate change [44][52]. Methodology - Advanced modeling tools were used to assess the impacts of the BCG+ model, including macro-econometric and ecosystem services models [41][42]. Key Findings - Climate change poses severe risks to Thailand's agriculture and fishing sectors, with significant economic implications [44][50]. - The report outlines the potential for economic growth through the transition to a circular economy, which could increase GDP by 1.0% and create 160,000 jobs by 2030 [53]. Focus Areas and Recommendations - The report categorizes actions into short-term, medium-term, and long-term priorities, emphasizing the importance of governance and community-based adaptation [56][58]. - Key recommendations include implementing carbon pricing mechanisms, enhancing flood management strategies, and promoting climate-smart agriculture [62][70].