Climate Action Investment
The World Bank disclosed $200 billion in climate action investment in 2021-25 on 3, Dec 2018.
The World Bank took this big step, which represented a “significantly ramped up ambition.” The ambition being that to tackle climate change and the recurring signs of global warming while also “sending an important signal to the wider global community to do the same.”
Developed countries will expend $100 billion in developing countries by 2020 to fight the impact the climate change.
Southern hemisphere countries fighting the impact of warming temperatures are nonetheless pushing northern counterparts for firmer commitments.
A big amount of funds are bound for reducing greenhouse gas emissions through the development of renewable energy strategies.
Consequences of Climate Change
The World Bank also stated that the key priority is boosting support for climate adaption. Because millions of people are already battling the consequences of climate change.
The climatic changes are intensifying day by day. The change is seen in the rising sea levels, floods, and droughts.
World Bank CEO Kristalina Georgieva stated that “we must fight the causes, but also adapt to the consequences that are often most dramatic for the world’s poorest people.”
A significant amount of adaptation is required, for a change in the worsening state of the climatic changes.