Over the last year, COVID-19 has undone the economic, health and food security of millions, pushing as many as 150 million people into extreme poverty.
What is the best path to building better and greener after the pandemic? Leaders around the globe ask this question and come up with different answers. For example, the European Union puts the spotlight on nature as the strongest ally in green recovery after COVID-19. South Korea plans to invest in green cities and support new green industries and businesses, among others. The best recipe for success differs across countries and regions, but as made clear in this previous op-ed, the Middle East and North Africa (MENA) region will need to include green and sustainable practices for a more resilient and inclusive recovery.
As many of us stay at home and continue to work there during the COVID-19 pandemic, we are spending a lot more time in our kitchens than ever before. For some of us, this is about cooking in the comfort of a modern cooking environment.
Issued in November 2008, the World Bank’s first green bond created the blueprint for sustainable investing in the capital markets. Today, the green bond model is being applied to bonds that are raising financing for all 17 Sustainable Development Goals.
The phone call to the World Bank Treasury came out of the blue: a group of Swedish pension funds wanted to invest in projects that help the climate, but they did not know how to find these projects. But they knew where to turn and called on the World Bank to help. Less than a year later, the World Bank issued the first green bond—and with it, created a new way to connect financing from investors to climate projects.