The World Bank raised an estimated USD350 million through the release of the first batch of its "green bonds,"
reported. The sum will back emission reduction projects in the developing world such as solar and wind energy projects, forestry protection initiatives and power plant enhancement. "Tackling climate change is going to take immense resources that will only come from a well-orchestrated flow of public and private finance," World Bank President Robert Zoellick said. "This transaction is an important early effort to show one way in which this can be done."