The World Bank is taking bold action to decisively bend the methane emission curve, announcing its intent to launch at least 15 country-led programs in the next 18 months. These programs will aim to slash up to 10 million tons of methane (over investment lifespans).
Domestic food price inflation remains high. Inflation higher than 5% is experienced in 61.9% of low-income countries, 80% of lower-middle-income countries, and 50% of upper-middle-income countries and many experiencing double-digit inflation.
With an ambitious financing package announced at COP28, the World Bank Group is helping people in developing countries better withstand the devastation of climate change and create a better world for their children and grandchildren.
Today, the World Bank announced ambitious plans for the growth of high-integrity global carbon markets, with 15 countries set to earn income from the sale of carbon credits generated from preserving their forests.
The World Bank announced today at COP28 a new Climate and Health Program to urgently respond to the rising negative health impacts of climate change in low- and middle-income countries.
"We are here at a critical moment in the arc of humanity – and the planet. But it is not a moment without hope. The resources of wealthy nations can create opportunities, meanwhile the abundance of sun, wind, fertile soil, and young people enjoyed by emerging economies could drive our future."
Digital technologies are transforming the way the world works and addresses climate change. A World Bank report, Green Digital Transformation: How to Sustainably Close the Digital Divide and Harness Digital Tools for Climate Action, underscores how digital tools can boost sustainability across industries but must also reduce their own carbon footprint.
Rapid economic growth in developing APEC economies, especially in East Asia, has propelled unparalleled poverty reduction over the past decades. Since 1990, the number of people living in extreme poverty was reduced by over 1.3 billion. More than three quarters of those escaping extreme poverty were in the East Asia Pacific region.
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