Thank you, Chair.
Tackling climate change will require a huge pipeline of impactful projects and a coordinated effort to fund them and implement them over a period of years without punishing the poor.
The World Bank Group has major engagements underway to develop this project pipeline, including with several countries around this table.
To be successful, we need to integrate climate and development; identify and implement priority projects; and combine large new sources and structures of financing. Over half of our climate financing goes to adaptation.
These are complex goals from both the financing and project side. It will need to build on solid diagnostics, new uses of technology, and ambitious prioritization.
There will need to be the combined efforts of many partners.
Governments will need to change incentives to shift their economies and societies. They need to create a business and regulatory environment that is consistent with their NDCs. We’re working around the developing world on this and on successful adaptation.