Washington, D.C. Headquartered World Bank presented its ambitious climate action plan that will help nations to create an additional 30 gigawatts of renewable energy, early warning frameworks and in creating climate smart agriculture investment plans for at least 40 nations.
- The World Bank has set the objective for accomplishing this plan by 2020.
- The plan has been made on the sidelines of landmark Paris Climate Agreement in New York in order to protect the planet for future generations.
Key features of plan
- Increase sources of renewable energy
- Decrease in high-carbon energy sources
- Develop green transport systems
- Build sustainable, livable cities for growing urban populations
The World Bank Action Plan is centered around helping nations to shape their national strategies and influence private sector investment.
Financing regarding this plan
- International Finance Corporation (IFC), a member of the World Bank Group is expanding its climate investments from the current USD 2.2 billion a year to USD 3.5 billion a year with an addition of USD 13 billion by 2020.
- World Bank – It also proposed to mobilize USD 25 billion in commercial financing for clean energy throughout the following five years.
Keys World Bank
Establishment – 1944
Motto – Working for a World Free of Poverty
President – Jim Yong Kim