World Bank promises USD 200 bn in 2021-25 climate cash
Katowice (Poland), Dec 3 : The World Bank on Monday unveiled USD 200 billion in climate action investment for 2021-25, adding this amounts to a doubling of its current five-year funding.
The World Bank said the move, coinciding with a UN climate summit meeting of some 200 nations in Poland, represented a "significantly ramped up ambition" to tackle climate change, "sending an important signal to the wider global community to do the same".
Developed countries are committed to lifting combined annual public and private spending to USD 100 billion in developing countries by 2020 to fight the impact of climate change -- up from 48.5 billion in 2016 and 56.7 billion last year, according to latest OECD data.
Southern hemisphere countries fighting the impact of warming temperatures are nonetheless pushing northern counterparts for firmer commitments.
In a statement, the World Bank said the breakdown of the USD 200 billion would comprise "approximately USD 100 billion in direct finance from the World Bank".
Around one third of the remaining funding will come from two World Bank Group agencies with the rest private capital "mobilised by the World Bank Group".
"If we don't reduce emissions and build adaptation now, we'll have 100 million more people living in poverty by 2030," John Roome, World Bank senior director for climate change, warned.
"And we also know that the less we address this issue proactively just in three regions -- Africa, South Asia and Latin America -- we'll have 133 million climate migrants," Roome told AFP.
The bank's financing package amounts to "about 40 billion a year, but the direct (finance) is 27 billion per year on average", Roome said.
He added that in the 2018 fiscal year, running from July 2017 to June this year, the World Bank had committed USD 20.5 billion to climate action, compared with an annual average of USD 13.5 billion for the 2014-2018 period.
Roome said the money now being earmarked amounted to "about 35 per cent" of the World Bank Group's total financing.
Much of the climate action financing is being set aside for reducing greenhouse gas emissions, notably through development of renewable energy strategies.
However, the World Bank stated that "a key priority is boosting support for climate adaptation," given the millions of people already battling the consequences of extreme weather.
"By ramping up direct adaptation finance to reach around USD 50 billion over (fiscal) 21-25, the World Bank will, for the first time, give this equal emphasis alongside investments that reduce emissions," the bank stated.
Given the urgency to act in the face of sea level rise, flooding and drought "we must fight the causes, but also adapt to the consequences that are often most dramatic for the world's poorest people", said World Bank CEO Kristalina Georgieva.
By stepping up financial aid to developing countries worst affected, Georgieva said the bank was committed to adapting infrastructure while investing in "climate smart agriculture, sustainable water management and responsive social safety nets" as well as early response networks.
"Even if we can keep global warming down to 2 degrees Celsius we know you're gonna need a significant amount of adaptation in places like Chad, Mozambique or Bangladesh," said Roome.
The countries whose representatives are meeting at the UN climate summit which opened Sunday in the Polish city of Katowice are seeking to make good on commitments made in the 2015 Paris climate accord.
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After poll debacle, defeated MVA candidates to seek verification of EVM-VVPAT units
Mumbai(PTI): The Maha Vikas Aghadi candidates who faced defeat in the recent Maharashtra assembly polls have decided to seek verification of the EVM-Voter Verifiable Paper Audit Trails (VVPATs) units in their segments, a leader of the opposition alliance said.
Many losing candidates of the opposition Shiv Sena (UBT) pointed fingers at the functioning of the Electronic Voting Machines (EVMs) during their interaction with party head Uddhav Thackeray on Tuesday.
Thackeray took stock of the lacklustre performance of his party at a meeting held at his residence in Mumbai.
The poll verdict last week saw the Mahayuti coalition, comprising the Shiv Sena, BJP, and NCP, retaining power with a massive mandate, pushing the Maha Vikas Aghadi (MVA) to margins.
The Mahayuti won 230 seats and MVA only 46 in the 288-member House.
The Thackeray-led Sena (UBT) emerged as the largest party in the opposition camp by winning 20 seats, followed by Congress which bagged 16 constituencies, while the NCP (Sharadchandra Pawar) sits at the bottom with a tally of 10 seats.
Talking to PTI on Tuesday, Congress leader Arif Naseem Khan, who lost the election from Chandivali assembly constituency in Mumbai, said he held a discussion with Thackeray, who also said he has got complaints from his party workers that EVMs could have been tampered.
"We are getting complaints from different parts of the state expressing doubts over the results. In a democracy, complaints need to be verified and many of us, including myself, (who faced defeat) are in the process of applying for the verification," Khan said.
As per the Supreme Court's judgement on April 26 this year, the burnt memory/microcontroller in 5 per cent of the EVMs - the control unit, ballot unit and the VVPAT - per assembly constituency shall be checked and verified by a team of engineers from manufacturers of the EVMs, after the announcement of results, for any tampering or modification, he said.
A written request for this has to be made by candidates who are in the second or third position behind the highest polled candidate.
Such a request has to be made within seven days of declaration of the result, Khan said.
A candidate making the request will have to pay the expenses of Rs 41,000 which will be refunded in case the machine is found to be tampered with, he said.
The microcontroller is a one-time programmable chip embedded into the three units of EVM-Ballot Unit, Control Unit and the VVPAT - at the time of manufacturing, as per the SC.
A Sena (UBT) MLA from Mumbai has claimed there were discrepancies between the votes polled and the votes counted in the EVMs.
"Almost all candidates raised doubts over the EVMs," the legislator said.
