The climate change debate dividing the World Bank

Some World Bank allies say the planned overhaul is doomed if not adequately funded by shareholders like the U.S. and EU — leaving staff stranded between focusing on climate and the bank’s traditional mandate of eradicating poverty.

But addressing climate needs on top of global conflicts and pandemics would require $2.4 trillion in total annual spending by all countries and institutions through 2030, the bank estimated. “I’m not in this game to measure the size of the World Bank,” Banga said at an event in Washington. “I’m in this game to make my grandchild’s life better.”

The bank also needs to “integrate the impact of climate change, taking into account weather, changing rainfall levels” and other environmental factors, the person said.private sector investment. Banga agreed that change is needed, saying the focus on income classifications for client countries has kept middle-income nations from accessing cheaper financing, locking them into cycles of debt that keep millions in poverty. That makes it harder for them to recover from climate change shocks, such as hurricanes and other extreme weather.

That the World Bank is no longer “fit for purpose” has unified its critics and champions, said Rachel Kyte, a former top official at the institution, adding that many of the changes being discussed would be transformative.they are looking for are modest and would not jeopardize the bank’s gold-plated credit ratings. And they say the changes could be enacted quickly and not get bogged down in debate.

But getting more from existing tools won’t bring enough spare capacity, ultimately forcing staff to sacrifice on other priorities, said Vijaya Ramachandran, a former World Bank official who is now director of energy and development at the Breakthrough Institute, a think tank.

Will you be in Disney World or Land anytime soon? You should be monitored. I have his way about you since you proclaimed in late 2006 that you were in no way worried about the Economy. U were in San Fran then I believe. Instantly felt ur wrong.

Is any institution or body anywhere talking about necessary legal reform? We have to upset some legal expectations/reform law (especially corporate law)—& soon/now if want to avoid full out systemic collapse/end of civilization.

Who cares, if god doesn’t want us on the planet, he would shake us off like a bad case of fleas

IMFNews soon telling the world bank who's money you want to use for your pet projects will be as easy as making a ridiculous argument about trees & BAM the foreign assets of your rivals at your fingertips. SecBlinken America1stLegal

is the destruction of humanity worth your precious money/ why do i need to even ask the question

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