The World Bank last week unveiled its strategy for the next decade to support green and sustainable development.
Over the past ten years, the World Bank’s commitment to environmental and natural resource management has grown from $1.5 billion - or 8.4% of its total lending - to $6.3 billion (14.3%).
The Bank’s future strategy is spread over various ‘agendas’, including ‘green’, ‘clean’ - where the focus is on pollution management and cleanup - and ‘resilience’ through which the Bank aims to help countries adapt to climate change.
The strategy also depends on geographic region so that efforts in east Asia and Pacific will focus on supporting renewable energy, energy efficiency and sustainable urban development.
Clean energy is also a priority in Europe and central Asia, along with supporting the disposal of pollutant stockpiles and improving waterways.
But in Africa, Latin America and the Caribbean, the main priority will be on managing natural resources, protected areas and conserving biodiversity.
“We’re seeing that working through the nexus of food crises, water insecurity, and energy needs is being made all the more complicated by environmental degradation and climate change,” says Rachel Kyte, vice president for sustainable development at the Bank.
“Countries and communities and the ecosystems they depend on need to build resilience while moving to more efficient growth paths. This Strategy lays out the areas where we will put emphasis as we work to respond to countries’ needs.”
For further information:
Global renewables investment soars to $257 billion (11-Jun)
Wells Fargo launches $100 million green fund (6-Jun)
Goldman Sachs plans $40 billion clean energy investment (25-May)
Green power financing flies in face of economic downturn, says KPMG (9-May)
13 June 2012