World Bank unveils new climate change plan

The World Bank has announced a new climate change plan which aims to help countries add 30GW of renewable energy by 2020. That’s equivalent to powering 150 million homes, it […]

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By Jacqueline Echevarria

The World Bank has announced a new climate change plan which aims to help countries add 30GW of renewable energy by 2020.

That’s equivalent to powering 150 million homes, it states.

The plan aims to accelerate efforts to tackle climate change in the next five years and help developing countries deliver on their national climate plans submitted in the Paris agreement.

It also hopes to increase climate financing to around $29 billion (£20.5bn) annually by 2020.

The bank also lays out plans to quadruple funding in five years to make transport systems more resilient to climate change as well as invest at least $1 billion (£0.71bn) to promote energy efficiency and resilient buildings by 2020.

It said it will continue to deepen its work to help countries put a price on carbon pollution to create incentives for public and private sector decision makers to make the right climate choices.

John Roome, Senior Director for Climate Change at the World Bank Group added: “If we don’t act, climate change threatens to drive 100 million more people into poverty in the next 15 years. The Action Plan will allow us to help developing countries more quickly and in the areas where support is most needed such as disaster preparedness, social protection and coastal protection.”