Remarks by World Bank Group President David Malpass at the Seventh Ministerial Meeting of the Coalition of Finance Ministers for Climate Action
This report discusses the remarks delivered by World Bank Group President David Malpass at the seventh ministerial meeting of the coalition of finance ministers for climate action. He discusses: many climate interventions and projects offer large g...
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| Format: | Speech |
| Language: | English English |
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World Bank, Washington, DC
2022
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| Online Access: | http://documents.worldbank.org/curated/en/099645304202242157/IDU0434db9940c0709aaf00b3b6f8bdd4c http://hdl.handle.net/10986/37797 |
| Summary: | This report discusses the remarks
delivered by World Bank Group President David Malpass at the
seventh ministerial meeting of the coalition of finance
ministers for climate action. He discusses: many climate
interventions and projects offer large global public good
benefits but require substantial resources and compensations
and may offer no financial returns. The challenge is how to
incentivize these activities. As carbon markets scale, they
may provide part of the flow of financial benefit to support
projects that reduce carbon emissions. To address this part
of the challenge, the Bank have prepared a concept note that
presents pooling private sector contributions in support of
greenhouse gas (GHG) emission reduction projects into a
financing platform in exchange for verified carbon credits.
Globally, Finance Ministries also need to catalyze the
private sector to help close the financing gap for
investments in mitigation and adaptation. |
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