World Bank provides $200 billion to combat climate change

The Bank has announced this announcement on December 3rd as it began a United Nations Conference on Climate in the Polish city of Katovice, at the time of warnings that the world has not become enough to reduce greenhouse gases.

At the summit with nearly 200 delegates from more than 200 countries in the world, the World Bank has said its pledge aims to present an added “mocycy to combat climate change and send a key “to the global community to do the same”.

The UN conference, officially known as COP24, is expected to review rules for financing and implementation of the 2015 Klima Agreement, which envisions keeping the Earth temperature between 1.5 and 2 degrees Celsisus by the end of the century.

According to the Paris pact, the richest countries responsible for the greater emissions of greenhouse gases are expected to provide more funds so that developing nations use their economy to make the climate more favourable.

US President Donald Trump's decision to withdraw from the Klimma Agreement has raised concerns that there may be reductions of funds, which are needed to reform industries in poor states.

But the World Bank's pledge is now seen as a security for the most vulnerable countries to the effects of climate change. / REL