World Bank publishes climate plan

World Bank President Jim Yong Kim has outlined a five-point plan to meeting the Paris Agreement’s globally agreed climate goals.

Slowing down construction of coal-fired power stations will be vital to hit globally agreed climate change goals, and climate ambition must be baked into development plans for every developing country, Kim said.

Calls for the “greening” of finance by the Bank of England governor, Mark Carney, were also strongly backed by Kim who said the sector needed to be “fit for purpose to assess climate risks and opportunities”.

He added that without climate-driven development, climate change could force more than 100 million people into extreme poverty by 2030.

Countries need more efficient water supply systems, climate-smart agriculture, early warning systems, better social protection and a reduction in disaster risk.