Robust financing for climate-friendly policies and projects is “the critical component” of a 2015 global climate deal expected to come out at the U.N. Climate Change Conference in Paris, according to World Bank President Jim Yong Kim.
But the bank, he warned, will not come even close to footing the entire bill.
In a speech at the Council on Foreign Relations in Washington, D.C. on Monday, Kim emphasized that the World Bank is “not straddling the fence anymore” when it comes to climate change.