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Thursday, May 2, 2024

Financing for a green transition

Climate change and global warming are no longer a future concern but rather immediate threats. Extreme heat, drought, temperature shifts and wildfires among others are currently wreaking havoc on people around the world.

According to the 2022 statistics from the World Meteorological Organisation, the period from 2015 to 2021 saw the seven warmest years on record. Also there is a 93% probability that at least one year between 2022 and 2026 will become the hottest on record.

Meanwhile, based on data from the World Bank, 216 million people around the globe are likely to migrate within their own countries by 2050 due to climate change, 49 million of which will be in East Asia and the Pacific. To address climate change, the World Bank Group’s Climate Change Action Plan…

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