Climate Update

KLIMAGERECHTIGK.

The Spring Meetings of the World Bank and IMF are a chance to transform outstanding debts for fossil fuel projects into grants for renewable energy systems

KLIMAGERECHTIGK.

World Bank and IMF urged to back plan at Spring Meetings.

WIRTSCHAFT

The World Bank has officially expanded its mission to include climate change, while pushing ahead with reforms that could unlock additional funding and cheaper loans for green projects.

WIRTSCHAFT

The World Bank is seeking to persuade governments to take money away from subsidies for fossil fuels and invest it in good causes like climate change.

WIRTSCHAFT

Russia, Saudi Arabia and other Gulf states have urged the World Bank to keep funding fossil fuel as a way to guarantee energy access across the world, as the lender pursues green reforms.

Poor countries will be able to pause their debt repayments if hit by climate disaster, under plans announced by the World Bank at the finance summit in Paris.

WIRTSCHAFT

The World Bank’s insurance arm is working on plans to protect carbon offsetting projects against political risks in developing countries as a growing number of governments seek to impose new rules onto the market.

WIRTSCHAFT

Ajay Banga officially became the 14th president of the World Bank on Friday and urged staff to join him in developing a “new playbook” for a global institution whose relevance has come into question in recent years. The ascension of Mr.

WIRTSCHAFT

Ajay Banga, President Biden’s pick to be president of the World Bank and broaden its ambitions to combat climate change, was approved by its executive board on Wednesday. Mr. Banga will assume the job on June 2 and succeed David Malpass, who was nominated by former President Donald J.

A broad group of low and middle-income countries has called for governments to give more money to the World Bank, in an effort to ramp up climate finance.

WIRTSCHAFT

The World Bank’s steering committee and U.S. Treasury Secretary Janet Yellen on Wednesday called for further reforms this year to expand the bank’s ability to respond to climate change, pandemics and other crises that are reversing development gains.

ANTI-KLIMA

Saudi Arabia and Russia have called on the World Bank to ramp up its financial support for carbon capture and storage.

WIRTSCHAFT

BENGALURU, India — The Biden administration nominated Ajay Banga, the former longtime chief executive of Mastercard, to be the next president of the World Bank, a selection that is likely to drastically reshape the global development institution and broaden its ambitions to combat climate change.

WIRTSCHAFT

The World Bank’s plan to loosen its spending rules and lend more money to climate projects in developing countries does not go far enough, according to officials and campaigners.

MILDERUNG & ANPASS.

When it was announced, the World Bank’s Solid Waste Emergency and Efficiency Project (Sweep) was touted as one of the lifelines that would help Pakistan’s biggest city, Karachi, with its urban flooding nightmare. But that hasn’t happened.

EMPFOHLEN MILDERUNG & ANPASS. POLITIK

Last year was shaped by events that barely anyone predicted – Russia’s invasion of Ukraine, horrendous floods in Pakistan and a hard-fought breakthrough on finance for victims of climate disaster.

WIRTSCHAFT

The World Bank is considering making climate action more central to its mission, according to a draft “evolution roadmap” drawn up by bank staff.

Früher war eine Million noch viel Geld. Dann wurde begonnen, mit Milliarden zu rechnen.

Klimareporter°: Herr Persaud, Sie wollen Tausende Milliarden in den Klimaschutz investieren. Ist das nicht etwas zu ehrgeizig? Avinash Persaud: Unser Ziel ist es, die Menschen zu schockieren, damit sie den richtigen Maßstab finden. Wir sind nicht auf einen bestimmten Plan festgelegt.

EMPFOHLEN KLIMAGERECHTIGK.

Last month at COP27, the U.N. climate change conference, a yearslong campaign ended in an agreement.

WIRTSCHAFT

David Malpass has faced continuing criticism from those who question his commitment to climate action as well as the bank’s track record. Gelles is with a team of New York Times reporters in Egypt covering the United Nations climate summit.

POLITIK

A group of 10 major economies are building momentum to scale-up climate finance for developing countries by reforming how development banks spend money, starting with the largest: the World Bank.

WIRTSCHAFT

The World Bank has come under fire for failing to show that its claimed spending on the climate crisis is real, in a report suggesting up to 40% of its reported climate-related spending is impossible to account for. Of $17.

ANTI-KLIMA

The World Bank has provided nearly $15bn of finance directly to fossil fuel projects since the Paris agreement was signed in 2015, and is likely to have spurred far greater investment indirectly, new research has found.

ANTI-KLIMA

Climate activists are calling on President Biden to take steps to fire David Malpass, the head of the World Bank, after he publicly waffled on whether he believes that greenhouse gas emissions from human activity are causing climate change, saying "I'm not a scientist.

ANTI-KLIMA

Weltbankpräsident David Malpass steht wegen Äusserungen zur Klimapolitik unter Druck. «Wir sind mit den Äusserungen von Präsident Malpass nicht einverstanden», sagte die Sprecherin des Weissen Hauses, Karine Jean-Pierre, am Freitag in Washington.

WIRTSCHAFT

Beim Jahrestreffen der Weltbank und des Internationalen Währungsfonds (IWF) in dieser Woche in Marrakesch haben die Mitgliedsländer der Weltbank deren Aufgabe neu definiert.

WIRTSCHAFT

Das globale Finanzsystem muss reformiert werden, um vor den aktuellen Herausforderungen zu bestehen. Klima- und Schuldenkrise erfordern eine Kapitalerhöhung. Darum geht es beim Treffen von Währungsfonds und Entwicklungsbanken in Marrakesch.