• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • News

    WEF warns of weak climate fight, as EU and World Bank plan loan

    <i>According to Reuters, the World Economic Forum warns that difficulties in 2008 may shift the global focus away from climate change, while the European Union and the World Bank are starting to pool together a loan to help poorer countries respond to drastic weather changes.</i> Increased attention on conflicted financial markets and rising political tension in 2008 could ste&#8230;

    By Newswire Newsletter // 10 January 2008



    Increased attention on conflicted financial markets and rising political tension in 2008 could steer the world’s focus away from other more urgent matters such as climate change and food security, said the World Economic Forum. “Action to mitigate climate change, for example, may be put in danger should the global economy weaken substantially, even though many of the … decisions which will shape the future path of global climate will need to be made in the next five years,” the Geneva-based group said in its Global Risks report. The report identified four crucial issues for 2008, which were systemic financial risk, supply chain disruptions, energy, and food security.

    Meanwhile, the European Union and the World Bank are drawing up plans to raise a major long-term loan to help the most impoverished countries fight climate change. According to E. U. Development Commissioner Louis Michel, richer countries would borrow the money on the international capital markets and disburse it to poorer countries to help them reduce their greenhouse gas emissions and help them avoid environmental damage. While the size of the fund is not yet certain, the loan is expected to involve “colossal sums”, Michel said. “I don’t agree to use existing development funds to finance the fight against climate change in the least developed countries,” Michel said. “My aim is to create a global loan with the World Bank – we are working with (World Bank President) Bob Zoellick – to help the LDCs (Least Developed Countries) fight climate change.”

    Sources:
    WEF warns 2008 uncertainties may hurt climate fight (Reuters)
    EU, World Bank eye loan for climate change fight (Reuters)

    • Environment & Natural Resources
    • Funding
    • Banking & Finance
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Newswire Newsletter

      Newswire Newsletter

    Search for articles

    Related Jobs

    • Resilience Knowledge Hub Team Leader
      Harare, Zimbabwe | Zimbabwe | Southern Africa
    • Food Policy Analyst
      Washington, D.C., District of Columbia, United States | District of Columbia, United States | United States | North America
    • Technical Advisor on Sustainable Coffee
      Addis Ababa, Ethiopia | Ethiopia | Eastern Africa
    • See more

    Most Read

    • 1
      Opinion: Mobile credit, savings, and insurance can drive financial health
    • 2
      Strengthening health systems by measuring what really matters
    • 3
      Opinion: India’s bold leadership in turning the tide for TB
    • 4
      Reigniting momentum for maternal, newborn, and child health
    • 5
      Opinion: Why vision is key to unlocking global development potential

    Trending

    Financing for Development Conference

    The Trump Effect

    Newsletters

    Related Stories

    World Bank Spring MeetingsWhat to watch at the 2025 World Bank-IMF Spring Meetings

    What to watch at the 2025 World Bank-IMF Spring Meetings

    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement