World Bank signals 'fundamental' climate change shift

More than a quarter of investment will now go directly to help developing world fight global warming

World Bank

The World Bank has signalled a "fundamental shift" in its funding policy which will see tens of billions of dollars channelled into projects to fight climate change.

Officials announced that in future, 28 per cent of all World Bank's investment would go into projects that, for example, aim to rapidly increase renewable energy capacity across the developing world. This will amount to at least $16bn (£11bn) a year by the end of the decade, notes The Guardian, with up to a further $13bn (£9bn) being "leveraged" from the private sector.

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