World Bank To The Rescue: Helping Poor Countries Adapt To Climate Change

Extreme weather and rising seas from global warming threaten to increase poverty, particularly in poorer parts of the world. To combat this, the World Bank Group made plans to invest funds that will help developing countries become more resilient to the impacts of climate change.

The bank stated it will bring early warning systems to an extra 100 million people in 15 developing countries, and develop social safety nets intended to protect an additional 50 million people by 2020.

Moreover, the bank has plans to adjust agriculture to better align with climate shifts in at least 40 countries through providing hardier seeds, improved carbon-capturing farming methods, and energy-efficient irrigation systems.

World Bank Group’s senior director for climate change, John Roome, said Thursday:

“If we don’t act, climate change threatens to drive 100 million more people into poverty in the next 15 years. The action plan will allow us to help developing countries more quickly, and in the areas where support is most needed, such as disaster preparedness, social protection and coastal protection.”

Over the last five years, World Bank has allocated $50 billion to projects related to climate change.

73% of that money was put toward emission reduction efforts by way of investments in renewable energy, energy efficiency, and changes to urban transportation, with the rest put toward helping people and countries adapt to the changes.

But in its new action plan, the World Bank Group plans to rebalance those funds, with a heavier focus on resilience and adaptability.

President of the group, Jim Yong Kim said:

“We are moving urgently to help countries make major transitions to increase sources of renewable energy, decrease high-carbon energy sources, develop green transport systems, and build sustainable, livable cities for growing urban populations.”

The bank plans to design sustainable forest management strategies for over 50 countries, and add 30 gigawatts of renewable energy to developing nations by 2020.

Featured image via Getty Images/David McNew