World Bank Pledges $25 Billion Annually for Climate Action – 07/11/2021

Glasgow, Nov. 7 (ANSA) – The World Bank on Saturday (6) pledged to invest $25 billion annually in climate finance through 2025 through its Climate Action Plan, which includes a focus on agriculture and food systems. The decision was announced at COP26 in Glasgow, Scotland, and will be implemented through “high-impact projects and programs to reduce greenhouse gas emissions,” promoting adaptation and reducing poverty and inequality.”

“Tackling climate change is urgent, and our approach translates ambition into action,” the foundation declared. The move comes after Italian Prime Minister Mario Draghi, the former executive director of the World Bank, said the World Bank was “not doing much about the climate”.

Yesterday (6) tens of thousands of people faced the rain protesting more effective action and demanding “climate justice”. The works were also carried out in London and in other cities in the United Kingdom and Ireland, as well as in other countries, such as South Korea, Indonesia, the Netherlands, France, Brazil and Belgium.

The document, which will be ready next Wednesday (10), will attempt to deny accusations by young environmentalists that COP26 was useless and highly intangible.