In fiscal year 2019, the World Bank Group committed nearly $17.8 billion to climate-related investments, surpassing current targets for the second year in a row.
Three country snapshots illustrate some of the ways climate change considerations were integrated in the project design: building climate resiliency into transportation systems in Sierra Leone; improving irrigation to address food security in Pakistan; and mitigating flood risk in Vietnam’s urban infrastructure.
Going forward, the World Bank Group will invest and mobilize $200 billion in climate-related financing from 2021-2025, doubling what we did in the last five years and significantly ramping up support for adaptation.
The 2018 UN Climate Change Conference of Parties (COP) will take place at the International Congress Centre in Katowice, Poland, from December 3 to 15.
The priority outcome from negotiations at COP24 will be the finalization of the “Paris rulebook”, namely, the framework of rules that will guide the implementation of the Paris Agreement.
The World Bank Group will announce new climate targets for 2025, including a major boost on adaptation, as well as analytical work on new mobility, transport, the energy sector, and the just transition, focusing on delivering low carbon pathways to development.