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World Bank

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Web site www.worldbank.org
HeadquartersWashington
D.C.
United States
FoundedBretton Woods
New Hampshire
United States
Subsidiaries International Finance Corporation
International Bank for Reconstruction and Development
Founders Harry Dexter White
John Maynard Keynes
Presidents David Malpass
Ajay Banga
Raw mottoWorking for a World Free of Poverty
Parent organizations World Bank Group
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Legal statusTreaty
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Date of Upd.
ID618504
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About World Bank


The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

COP28: Can a climate summit in an oil state change anything?

COP28: Can a climate summit in an oil state change anything?
Nov 29,2023 12:41 pm

... Also look out for evidence that big global institutions like the World Bank and the International Monetary Fund are bowing to pressure to change their lending rules to help get the cash flowing...

Toxic gas putting millions at risk in Middle East, BBC finds

Toxic gas putting millions at risk in Middle East, BBC finds
Nov 27,2023 9:41 pm

... Working with BBC Arabic, environmental scientists combined this information with the volumes of gas flared - which the World Bank publishes - to work out total pollution...

UK government plans radical shake-up of foreign aid for climate change disasters

UK government plans radical shake-up of foreign aid for climate change disasters
Nov 17,2023 10:21 pm

... The idea is to use the balance sheets of international financial institutions, such as the World Bank and the IMF, to guarantee greater investment in development from private capital such as pension funds...

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Nov 7,2023 9:31 pm

... The Ethiopian economy is in a tailspin, and desperately needs a bailout from western donors along with the International Monetary Fund (IMF) and World Bank...

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Nov 2,2023 4:21 am

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... The unemployment rate more than doubled from the period immediately before the Taliban takeover to June 2023, according to the World Bank...

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Oct 30,2023 4:51 pm

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Oct 14,2023 8:01 pm

... That s why it has gotten into the risky business of international bailout lending, " said Carmen Reinhart, a former World Bank chief economist and one of the study s authors...

COP28: Can a climate summit in an oil state change anything?

Oct 13,2023 7:11 pm

By Justin RowlattClimate editor, BBC News

You are going to be hearing a lot about COP28 over The Next Two Weeks .

The World 's most important climate meeting, beginning on Thursday, is being hosted in Dubai by The United Arab Emirates (Uae ) - One of The World 's Top Ten oil producers.

COP28 will be The biggest gathering of world leaders of The year.

King Charles III and Rishi Sunak will be there, along with dozens of Other World leaders and some 70,000 other attendees.

Hosting a climate conference in a petrostate was already controversial - But The has heightened concerns.

So, can a summit in One of The World 's richest oil states deliver meaningful Action on Climate Change ?

Campaigner Greta Thunberg has said these - Meaning all talk and no Action .

But if The Cop process did not exist, we would certainly want something Like it.

Imagine for a moment that you are an alien visiting The Earth .

You discover The Planet faces a potential catastrophe caused by The actions of The People living there.

The First thing that alien would say is: " You guys all need to get together and agree How To sort this out".

But making progress is tough going.

You may be surprised to discover that The First Time that The World collectively agreed to cut The Greenhouse gas emissions that cause Climate Change was only eight years ago, at.

Nearly 200 Countries pledged to keep global temperature rises " well below" 2C and " pursue efforts" to limit them to 1. 5C - Crucial to avoiding The Most dangerous climate impacts, according to UN scientists.

That Paris agreement in 2015 was a big Step Forward and has triggered " near-universal Climate Action " The UN says. This has helped bring down The Level of warming The World can expect.

But , a recent UN report confirmed.

Trying to address this will be One of The biggest issues for The conference.

More on The COP28 climate summit

At The Top of The Agenda is an attempt to get an agreement to make The promises of Action governments give - known in UN jargon as " Nationally Determined Contributions" or NDCs - More comprehensive.

The idea is that commitments should get progressively bolder over Time - Like a ratchet, irreversibly increasing ambition.

The Hope for COP28 is an agreement that NDCs should be broadened to cover The emissions from all economic activity - including food and farming, for example.

There will also be an Effort - and this is a Longshot - to try and make Countries a bit More accountable for The promises they make.

Currently, The Paris deal can't force Countries to do Anything - in The UN process, all Action is voluntary.

Another key issue will be cash.

There will be a lot of talk about who pays who for what.

The Good News is renewable technologies Like wind and solar have got far cheaper and in many cases.

One of The Uae 's targets is to get The World to sign up to treble The World 's Renewable Energy capacity by 2030 - It also wants an agreement to double The rate of energy efficiency improvements by 2030 .

These measures require large upfront investment, even if they could bring savings in The long term.

And preparing for - and dealing with - The Impacts of Climate Change we already know are coming is going to cost trillions of dollars.

At The Heart of these discussions is The profound inequality that divides The World .

Most rich Countries got rich by burning fossil fuels.

Poorer Countries say The richer nations now need to use some of that cash to help them go green and to deal with The climate impacts The rich world created.

A long-standing promise by developed Countries to find $100bn a year to help developing nations with Climate Action - initially promised by 2020 - looks Like it has finally been met.

Also look out for evidence that big global institutions Like The World Bank and The International Monetary Fund are bowing to pressure to change their lending rules to help get The Cash flowing.

But it will not all be plain sailing.

The big success of was The agreement to create a to help deal with climate disasters in The poorest Countries .

But which Countries - if any - will put money in The fund? The European Union has indicated it is going to open its wallet, But what about The US and other big economies?

China, Saudi Arabia and The Gulf States are still defined as developing Countries for COP purposes, by The Way , and therefore aren't obliged to pay into funds Like this - a big bone of contention.

And finally we can expect The Return of an old COP favourite - The Game of " down or out".

This is The Question of The language used to describe The World 's long-term ambitions for " unabated" fossil fuels - Coal , oil and gas which are burned without technologies to capture their emissions.

In other words, should The World look to gradually reduce The production and use of polluting fossil fuels over Time (" phase down" ), or put a complete end date to it (" phase out" ) - and when should this be?

It's a particularly fitting Question this year, with The conference being held in a petrostate.

The COP28 president, Sultan al-Jaber, wants to see a " phase down" But many Countries , including those in The EU, are expected to push for a full " phase out".

Astonishing as it may seem, The World still hasn't officially committed to either yet.

That's despite warnings that there are already far More fossil fuels currently being produced or Under Construction .

So, let The discussions begin!

What questions do you have about COP28?

.

Use this form to ask your Question :

If you are reading this page and can't see The form you will need to visit The mobile version of The to submit your Question or send them via email to. Please include Your Name , age and location with any Question you send in.

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Source of news: bbc.com

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