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World Bank Approach on Climate Change Evolves

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Manage episode 400778087 series 120820
Content provided by ColumbiaUEnergy and Columbia University. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by ColumbiaUEnergy and Columbia University or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Against the backdrop of climate change, a global debt crisis is raising concerns about the cost of the energy transition. Countries in the Global South — which are trying to balance economic development and climate adaptation — are calling for reforms to the global financial system to get more access to cheaper capital.

The World Bank, which provides loans and grants to emerging and developing economies, is a major financier of international development. Last year, it delivered $38.6 billion in climate finance. But because of its significant capacity, the organization is often scrutinized for how it manages and allocates funds.

So, how can the global financial system better support emerging and developing economies amid a changing climate? And how is the World Bank under a new president, Ajay Banga, working to meet these challenges?

This week host Bill Loveless talks with Axel van Trotsenburg about the World Bank’s climate agenda.

Axel is the World Bank’s senior managing director, responsible for development policies and partnerships. As such, he is the second in command at the bank. He directs the organization’s core work on sustainable development, with a focus on climate change, fragility, human capital, and sustainable debt. Axel has been with the World Bank for more than 30 years, having also held various senior positions there.

  continue reading

330 episodes

Artwork
iconShare
 
Manage episode 400778087 series 120820
Content provided by ColumbiaUEnergy and Columbia University. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by ColumbiaUEnergy and Columbia University or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

Against the backdrop of climate change, a global debt crisis is raising concerns about the cost of the energy transition. Countries in the Global South — which are trying to balance economic development and climate adaptation — are calling for reforms to the global financial system to get more access to cheaper capital.

The World Bank, which provides loans and grants to emerging and developing economies, is a major financier of international development. Last year, it delivered $38.6 billion in climate finance. But because of its significant capacity, the organization is often scrutinized for how it manages and allocates funds.

So, how can the global financial system better support emerging and developing economies amid a changing climate? And how is the World Bank under a new president, Ajay Banga, working to meet these challenges?

This week host Bill Loveless talks with Axel van Trotsenburg about the World Bank’s climate agenda.

Axel is the World Bank’s senior managing director, responsible for development policies and partnerships. As such, he is the second in command at the bank. He directs the organization’s core work on sustainable development, with a focus on climate change, fragility, human capital, and sustainable debt. Axel has been with the World Bank for more than 30 years, having also held various senior positions there.

  continue reading

330 episodes

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