The World Bank Group’s Climate Change Action Plan 2021–2025 is a game-changer for sustainable development.
Here’s what it’s all about:
Integration of Climate and Development
The plan merges climate and development goals to support Green, Resilient, and Inclusive Development (GRID). Country-specific diagnostics (CCDRs) will guide impactful action tailored to local contexts.
Alignment with the Paris Agreement
All World Bank operations will be Paris-aligned by July 2023. IFC and MIGA will follow suit with full alignment by 2025.
Strategic Focus Areas
The WBG is prioritizing six transformational areas:
- Increasing climate finance (35% target for 2021–2025)
- Prioritizing resources where they have greatest climate impact
- Expanding climate diagnostics (via CCDRs)
- Supporting transitions in 5 key systems (energy, agriculture, cities, transport, manufacturing)
- Encouraging transformative, just investments
- Enhancing climate risk screenings and resilience metrics
Financing the Transition
By mobilizing private capital, boosting public revenues, and leveraging concessional finance, the WBG aims to close the $4 trillion/year investment gap needed for sustainable infrastructure by 2030.
Equity & Inclusion
The plan centers people, nature, and partnerships—ensuring climate actions are fair, inclusive, and grounded in collaboration.
This isn’t just about greening projects. It’s about greening entire economies. A must-read strategy for all working toward sustainable global growth.
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