World Bank launches ambitious Climate Change Action Plan

The World Bank has unveiled an ambitious Climate Change Action Plan (CCP) to accelerate efforts to tackle climate change over the next five years i.e. by 2020.
It seeks to help developing countries to deliver their targets set in the national climate plans submitted for the historic climate agreement reached at COP21 in Paris in December 2015.
The Action Plan mainly seeks to help developing countries make major transitions to increase sources of renewable energy, develop green transport systems, decrease high-carbon energy sources and build sustainable, livable cities for growing urban populations.
Key highlights

• Help in developing countries add 30 GWs of renewable energy.
• World Bank would focus on expanding universal access to early-warning systems in the case of disasters to 100 million people by the year 2020.
• World Bank will develop climate-smart agriculture investment plans for at least 40 nations.
• Design sustainable forest strategies for 50 countries and promote climate-informed fisheries management by 2020.
• Bring adaptive social protection social safety nets that can quickly support people affected by a disaster or an economic shock.
• Pilot a new approach in 15 cities that aims to boost urban resilience by integrating infrastructure, land use planning and disaster risk management.
• World Bank to quadruple funding over next 5 years to make transport systems more resilient to climate change.
• It will also invest at least US 1 billion dollars to promote energy efficiency and resilient building by 2020.
• Help to green the financial sector through a coordinated approach across banking, capital and pensions markets to implement changes needed nationally and globally.

Month: Current Affairs - April, 2016