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December 2009 | 12 pages
As important as the question of the adequacy of climate funds is the question of who handles them, how they are governed, and how they are delivered to those who need them most. With the amount of resources they have given it, rich country governments clearly prefer the World Bank to manage public funds for climate action in the developing world. Given its institutional structure that is highly skewed in favor of its wealthiest contributors, and history of pursuing environmentally and socially harmful development in the South, we ask whether the World Bank is the appropriate institution to handle these funds. Should the World Bank play any role at all in climate finance?
Contents
Introduction
1. How does the World Bank perceive its role in climate action and climate finance, and what is its approach?
2. What financing instruments does the World Bank house and/or push developing countries to use for mitigation and adaptation?
3. What are the problems with these instruments?
4. What are the problems with the World Bank’s involvement in climate finance?
Conclusion
Proposals for a Peoples’ Climate Fund
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