The World Bank will no longer adhere to the “45% for climate” rule.

The World Bank will no longer adhere to the “45% for climate” rule.

The World Bank Group announced the elimination of the target of 45% of its funding going to climate change projects. This was stated in the updated Climate Action Plan, reports a Kazinform correspondent.

 

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It is noted that the World Bank Group’s climate work will continue to be driven by the needs of client countries, supporting them in achieving their own goals, as enshrined in their national plans.

“We are repealing the 45 percent climate co-benefits target, as well as the 35 percent target set out in the Climate Action Plan. We have already made significant progress in meeting the demands and needs of our client countries. Further progress in achieving these results will be driven by the ambitions of the countries themselves and supported by the Knowledge Bank’s activities in line with their international commitments,” the statement reads.

The organization noted that it will continue to track and publish data on two key indicators: the volume of net greenhouse gas emissions and the number of people whose resilience to climate risks has been increased.

The World Bank previously invited Kazakhstan to join the global Digital Compact strategy.

https://www.inform.kz/ru/vsemirniy-bank-bolshe-nebudet-priderzhivatsya-pravila-45-naklimat-dc89861b

Google machine translated

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