The World Bank has been an advocate of environmental action for many years now. Recently the Bank’s president Jim Yong Kim called for a plan to address climate change. Rachel Kyte, vice-president for sustainable development, explained that fighting climate change has become a guiding principle for the bank.
The World Bank has introduced a wide array of projects to mitigate and adapt to climate change: from promoting partnerships for climate action in urban areas across the globe to funding clean technology in developing countries.
With historic commitments of more than $12 billion, India has been the main beneficiary of World Bank funding for climate-related projects. The vast majority of projects are directed at renewable energy, while a much smaller number concern forestry, water, sanitation and flood protection.
Underscoring the Bank’s efforts to assist developing countries, Ms Kyte said that “climate change is absolutely central to our understanding of how we can help…countries grow and prosper.”
© 2013, Richard Matthews. All rights reserved.
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