Printer-friendly versionSend by emailPDF version

The World Bank is advocating the use of private sector finance for climate change adaptation and mitigation, and pushing multilateral development banks as delivery mechanisms. An early October report on mobilising climate finance was coordinated and produced for the G20 by the World Bank in the run up to the United Nations Framework Convention on Climate Change (UNFCCC) negotiations in Durban, South Africa. The G20 had previously avoided taking an active role, as developing country members were concerned doing so could undermine the UN process. The report, 'Mobilising climate finance', highlights the importance of eliminating fossil-fuel subsidies and of implementing a carbon tax on aviation and shipping, which have long been demanded by civil society groups.