The world’s largest development finance institutions are working together on a common sets of principles for tracking climate finance. They have agreed on the first set for tracking mitigation finance. Similar principles for tracking adaptation finance and leverage are being developed this year.

When COP 21 takes place in Paris this year, it will need to send a signal to business, investors, governments and the public that the transition to a low carbon, resilient world is inevitable.

The World Bank is pleased to announce the launch of the Green Growth Bond 05/2023, its second Green Bond for retail investors that is linked to the Ethical European Equity Index. This product will allow investors to benefit from the growth potential of an equity index while at the same time, support projects with a positive impact on climate change, financed by the World Bank.

Risks from climate change are on the rise, jeopardizing hard-won development gains and posing formidable challenges to people and communities around the world. Millions of Red Cross and Red Crescent volunteers – from small island states to large urban centres – can testify to this reality, and the recently released IPCC 5th Assessment Report confirms that the challenge of climate change is unprecedented in human history.  Overcoming this challenge requires an unprecedented level of cooperation.