World Bank kicks in $200b for 'climate'

Глобальное потепление Всемирный банк инвестирует сотни миллиардов на борьбу с климатическими изменениями

World Bank Chief Executive Officer, Kristaline Georgieva asserted that climate change has led to the loss of lives and livelihoods. With United Nation's climate talks beginning this week in Katowice, Poland, the World Bank said it will invest around $200 billion over 5 years to "boost adaptation and resilience in a rapidly warming world, especially in the world's poorest countries", EcoWatch reported.

World Bank senior director for climate change John Roome also emphasised the need for countries and entities to urgently address climate change and its effects.

The statement said the breakdown of 200 billion dollars would comprise approximately 100 billion in direct finance from the World Bank.

As reported by The Guardian, the top worldwide financial firm is making the amount available to fund action on drastic climate change, while aiming to reduce greenhouse gas emissions and helping countries survive the effects of global warming. The financing will support higher-quality forecasts, early warning systems and climate information services, the group said in a statement.

The expected investments will build more climate-responsive social protection systems in 40 countries, and finance climate smart agriculture investments in 20 countries, it added.

The latest figures on climate funding for developing countries show barely a quarter has been going to adaptation, with the bulk backing clean energy and more efficient energy use.

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The World Banks is urging the greater global community to also ramp up its investments by "putting countries and communities in charge of building a safer, more climate-resilient future", stated in a press release. The project financing is designed for 2021-2025 years.

Former UN secretary-general Ban Ki-moon said the World Bank's pledge to use half its climate finance to find solutions to deal with changing weather patterns was "important".

Around one-third of the remaining funding will come from two World Bank Group agencies with the rest private capital "mobilised by the World Bank Group".

In terms of key sectors, these efforts will be focused on energy, particularly the generation, integration and enabling infrastructure for 36 gigawatts of renewable energy and support 1.5 million gigawatt-hour equivalent of energy savings through efficiency improvement. Other strategies will include increasing landscape management in up to 50 countries which will cover up to 120-million hectares of forests.

The lender plans to help 100 cities achieve low-carbon and resilient urban planning and transit-oriented development.

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