To guide its work toward a “world free of poverty,” the World Bank Group in 2013 established two clear goals: end extreme poverty by 2030 and promote shared prosperity. This Policy Research Note updates the assessment of progress toward these two goals and examines the policy actions and institutional interventions needed to accelerate progress toward achieving these objectives.
Pollution and Health
Asian Development Bank (ADB) President Takehiko Nakao today announced that ADB will double its annual climate financing to $6 billion by 2020, up from the current $3 billion. ADB’s spending on tackling climate change will rise to around 30% of its overall financing by the end of this decade.
Secretary General Ban Ki-moon reported today that ahead of an upcoming United Nations climate conference in Paris, world leaders have voiced broad support for reaching a durable agreement that will accelerate investments in clean energy and spur a global, low-carbon transformation well before the end of the century, consistent with a below 2 degrees Celsius pathway.
At the upcoming United Nations Summit, member states will reach an agreement on the Sustainable Development Goals (SDGs). Development practitioners will then engage in monitoring the achievements of the goals and targets. As was the case with the Millennium Development Goals (MDGs), country, regional and global level progress reports are likely to proliferate.
Many people are putting their faith in private finance – particularly international private finance streams such as foreign direct investment and loans – to finance climate adaptation in LDCs and SIDS, but this faith may be misplaced.