WASHINGTON, June 1, 2017—The World Bank Group today issued the following statement on its continued commitment to climate action:
“The World Bank Group recognizes climate change as an acute threat to global development that increases instability and contributes to poverty, fragility, and migration. Since the Paris Agreement was reached in December 2015, the World Bank Group has seen strong demand from our clients – low and middle-income countries – for rapid, concerted action on climate change. These countries recognize the threat and the opportunity: that the transition to a low-carbon, climate resilient economy can drive innovation, jobs, and growth.
The World Bank Group reaffirms its longstanding commitment to tackle the climate challenge and to work with developing countries to meet their climate goals. We are working intensively in areas like clean energy, climate-smart agriculture, sustainable urbanization, and disaster risk management, and are on our way to meeting our own goal of having 28 percent of our portfolio be climate-related by 2020. We will continue to work with governments, partners and the private sector towards a more sustainable, stable world.”