Public Disclosure AuthorizedCITIES RESHAPING Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized i Readying Cities in the Western Balkans for a changing climate WORLD BANK GROUP i RESHAPING CITIES iii Readying Cities in the Western Balkans for a changing climate WORLD BANK GROUP © 2024 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW Washington DC 20433 Telephone: 202-473-1000 Internet: www.worldbank.org | --- | |--------------------- ...

No. 26 - Fall 2024 Western Balkans Regular Economic Report WORLD BANK GROUP Public Disclosure Authorized Retaining the Growth Momentum Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Western Balkans Regular Economic Report No.26 | Fall 2024 Retaining the Growth Momentum © 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, interpretation ...

| --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------| | | | | | The 2024 McKinsey Global Payments Report Global payments in 2024: Simpler interfaces, complex reality October 2024 | McKinsey & Company The 2024 McKinsey Global Payments Report Global payments in 2024: Simpler interfaces, complex reality By Philip Bruno and Uzayr Jeenah, with Amit Gandhi and Inês Gancho The tantalizing vision for global payments has long be ...

PRISM: IS STEEL SCRAP THE NEW GOLD? IS STEEL SCRAP THE NEW GOLD? ARTHUR D. LITTLE AUTHORS Arnaud Jouron, Martin Rajnoha, Jiří Steif, Marta Pérez Steel production is responsible for 7%1 of global carbon dioxide (CO2) emissions, underscoring the urgency of reducing its carbon footprint to meet net zero targets. Regulators are intensifying their efforts; for instance, Europe aims to cut CO2 steel production emissions by nearly 25% by 2030. Steel is integral to the global economy, playing a crucial role in the ...

1 The CSO at a Crossroads Three Paths Forward for Sustainability Leaders B Table of Contents 31 Executive Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Letter from the President and CEO . . . . . . . . . . . . . . . . . . . . 6 1. The Sustainability Field Has Matured After Periods of Rapid Growth and Turbulence . . . . . . . . . . . . . . . . . . . . . 8 | --- | |-----------------------------------------------------------------------------------------| | | | 20 Years of Slow Ev ...

Industry Overview - The global banking industry generated $7 trillion in revenue and $1.1 trillion in net income in 2023, with a return on tangible equity (ROTE) of 11.7% [7] - The industry intermediated $410 trillion in assets globally in 2023 [8] - Banking remains the largest profit-generating sector globally, surpassing the combined net income of the energy and industrials industries at $1.15 trillion [10] - Despite strong performance, the industry faces skepticism with a price-to-book ratio of 0.9, the lowest among all sectors [12] Performance Drivers - Recent performance improvements are largely attributed to rising interest rates, with net interest margins (NIMs) increasing significantly [6][16] - Labor productivity growth in banking has been mixed, despite high tech spending, with US banks showing declining productivity [27][29] - Regulatory changes continue to require significant investment, adding to operational costs [6] - Competition from non-traditional players, such as private credit and fintech, is intensifying in profitable segments like payments and wealth management [6] Structural Challenges - The industry's profitability is uneven across geographies, with countries like the US, UK, and India showing improved performance, while others like Brazil and China face lower ROTEs [18] - Scale economies remain elusive in many markets, with tech spending not translating into proportional productivity gains [27][29] - The cost of funds is expected to rise due to quantitative tightening and increased competition for deposits [32] Winning Strategies - Top-performing banks focus on a combination of structural advantages (segment selection, scale, and geographic positioning) and operational execution (analytics, marketing, and tech) [6][36] - 14% of banks have achieved a price-to-book ratio above 1 and a price-to-earnings ratio above 13, indicating strong value creation [37][38] - Winners often operate in attractive markets with high margins and strong fundamentals, such as Australia, Canada, and India [41][42] - Execution excellence, including granular pricing, risk selection, and customer-centric strategies, drives outperformance [52][53] Future Outlook - If interest rates decline, NIMs could compress by 50-60 basis points, potentially reducing ROTE to near cost of capital levels [17] - Banks will need to reduce costs by 5% annually to maintain current ROTE levels, a significant challenge given historical cost reduction rates of 1% [31] - AI and advanced analytics offer potential for productivity gains, but widespread adoption and impact remain in early stages [27][57] Management as a Differentiator - 10% of banks have improved their ROTE by five or more deciles over the past decade, demonstrating the potential for breakout performance [58][59] - Management teams must focus on structural and executional leverage, including scale, portfolio mix, and operational efficiency, to drive value creation [62] - Successful banks often adopt a "management quotient" that emphasizes agility, talent optimization, and strategic focus to outperform peers [58][62]

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized HEALTH AND LONG-TERM CARE NEEDS IN A CONTEXT OF RAPID POPULATION AGING DISCUSSION PAPER A P RIL 2023 Natalia Aranco Araújo Gisela M. Garcia Public Disclosure Authorized Health and Long-Term Care Needs in a Context of Rapid Population Aging A Background Study for the World Bank Healthy Longevity Initiative Natalia Aranco Araújo and Gisela M. Garcia April 2023 Health, Nutrition, and Population (HNP) Discussion Paper This se ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10949 Digitalization, Remote Work and Firm Resilience Evidence from the COVID-19 Shock Cristina Constantinescu Arti Grover Gaurav Nayyar Public Disclosure Authorized Prosperity Practice Group Development Research Group & International Finance Corporation October 2024 A verified reproducibility package for this paper is available at http://reproducibility.worldbank.org, click here for direct a ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10946 Education, Social Norms, and the Marriage Penalty Evidence from South Asia Maurizio Bussolo Jonah Rexer Margaret Triyana South Asia Region Office of the Chief Economist October 2024 Public Disclosure Authorized Policy Research Working Paper 10946 Abstract A growing literature attributes gender inequality in labor market outcomes in part to the reduction in female labor supply after chil ...

Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Policy Research Working Paper 10948 Financial Deepening and Carbon Emissions Intensity Evidence from a Global Sample of Countries Boris Fisera Martin Melecky Dorothe Singer Public Disclosure Authorized Finance, Competitiveness and Innovation Global Practice October 2024 Policy Research Working Paper 10948 Abstract Financial deepening contributes to economic development, but its effect on the carbon intensity of production ...