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    • Climate finance

    Can the World Bank make renewable energy cheaper?

    World Bank President Jim Yong Kim is on a mission to make the business case for climate-smart investments — but how much power does the bank wield to make renewable energy more affordable?

    By Jeff Tyson // 02 May 2016

    World Bank President Jim Kim has been a vocal supporter of the Paris climate agreement signed last month by representatives from 175 nations. But Kim is on another climate mission too: to make the specifics of the Paris climate agreement matter less by building the economic case for renewable energy.

    Speaking at the World Bank’s spring meetings last month beside Ségolène Royal, France’s minister of the environment, energy and the sea and president of the 21st Conference of the Parties, Kim said that despite a ground-breaking climate change agreement in Paris last year, the international community has to assume that most countries will not live up to their commitments.

    “There was a lot of intensity and pressure to make a commitment [in Paris],” Kim said. “But there really was this sense that once you did this, then the pressure would be off.”

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    About the author

    • Jeff Tyson

      Jeff Tyson@jtyson21

      Jeff is a former global development reporter for Devex. Based in Washington, D.C., he covers multilateral affairs, U.S. aid, and international development trends. He has worked with human rights organizations in both Senegal and the U.S., and prior to joining Devex worked as a production assistant at National Public Radio. He holds a master's degree in journalism from Columbia University and a bachelor’s degree in international relations and French from the University of Rochester.

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