The World Bank wants to support the fight against climate change with twice as much investment as before. From 2021 to 2025 to flow 200 billion dollars (equivalent to 177 billion euros) to help especially the poorest countries in the world, as the Washington-based development bank announced on Sunday. That is twice as much as in the current five-year financing period. The World Bank sent its message calling for the international community to increase funding as well.
About $ 100 billion will be funded directly from the World Bank, according to the media information. About one third of the remaining $ 100 billion comes from two World Bank Group organizations. The remaining funds are private capital mobilized by the World Bank Group. By 2020, industrialized countries‘ aid to developing countries to tackle climate change impacts is set to rise to $ 100 billion a year. The industrialized countries, however, urge strong private-sector participation and shy away from long-term commitments.
Measured measures are not enough
The date of publication is no coincidence: Accompanied by warnings of massive global warming, the 24th UNO Climate Summit will officially open on Monday in Poland. Representatives from nearly 200 countries are negotiating for two weeks in Katowice (Katowice) on how the historic resolutions of the 2015 Paris Climate Change Conference can be supplemented by clear rules for implementation and review.
In Paris, it had been decided to limit global warming to below 2 degrees, and possibly even to 1.5 degrees. However, the measures taken worldwide to reduce harmful greenhouse gases are far from sufficient. Essentially, it is about stopping the release of greenhouse gases as soon as possible and completely. The burning of coal, oil and gas, which releases carbon dioxide, is the focus of attention.