World Bank Donates $200 Billion to Slow Climate Change

The financial institution announced that they’re donating $200 billion to come up with a solution between 2021 and 2025 that will help reverse the effects of climate change.

Dec 14, 2018

The fight against climate can never have too many allies. Recently, the movement gained a prominent partner in the World Bank, who just made their commitment to addressing global warming crystal clear with their latest donation.

Not long ago, the financial institution announced that they’re donating $200 billion to come up with a solution between 2021 and 2025 that will help reverse the effects of climate change and create a better world for current and future generations.

In the spirit of the United Nations Climate Change Conference occurring this week in Poland, the World Bank decided to reaffirm their dedication to meeting the goals of the Paris Agreement, set in 2015, during which they already donated a significant amount.

During the meeting in Paris, the World Bank pledged 100 billion to the 5-year plan. Recently, they have decided to double the amount towards the cause to make a stronger and more drastic impact. So far, they’ve already spent around $20.5 billion in various sustainability projects, already creating a dent in shifting towards more sustainable energy and waste solutions.

World Bank President Jim Yong Kim, said that they hope the funds will encourage civilians to do their part and clean up our planet, no matter how much they can contribute. Though not everyone can put millions of dollars into the effort, the knowledge that everyone can do their part is gaining more traction with the hope of these initiatives.

“We are pushing ourselves to do more and go faster on climate and we call on the global community to do the same,” he said. “This is about putting countries and communities in charge of building a safer, more climate-resilient future.”

A portion of the money will be used for projects such as early-warning weather systems and more nuanced agricultural projects in developing nations. They’re also working towards providing the infrastructure for countries to meet carbon-neutrality goals.

International Finance Institution, CEO Philippe Le Houérou, said their job is to find opportunities where they can invest in cleaner, greener solutions and support them financially.

“We will do much more in helping finance renewable energy, green buildings, climate-smart agribusiness, urban transportation, water, and urban waste management.”

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REBECCA WOJNO, CONTRIBUTOR
Rebecca is passionate about reading, cooking, and learning about people doing good in the world. She especially loves writing about wellness, personal growth, and relationships.

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