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.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
SP MPs demand discussion on Sambhal in Parliament, SC-monitored probe
New Delhi (PTI): Samajwadi Party (SP) leaders on Wednesday said they want to discuss the Sambhal issue in Parliament and demanded that any probe into the incidents that led to violence in the Uttar Pradesh town should be conducted under the Supreme Court's monitoring.
"We want a discussion on the incident that happened in Sambhal. Many of our MPs have issued notices to the speaker regarding this. We want to speak on the floor of the House about the inhuman behaviour of police and the administration against people," SP MP Dimple Yadav said.
Four people died and scores, including police personnel, were injured in Sambhal on Sunday after a confrontation erupted over a court-ordered survey of the city's Shahi Jama Masjid in the Kot Garvi area, following a petition claiming that a Harihar temple once stood at the site.
SP MP from Sambhal Zia ur Rahman, who has been named in an FIR for allegedly inciting a mob, claimed that he was not present at the site when the incident took place, and slammed police and the administration for opening fire on citizens.
Asked about him being named in the FIR, Rahman said, "They (BJP) are in power, they can do anything. I was not even present there. I was in Bengaluru and I am being blamed for the riots."
"I am more worried about those killed by police and those who are being tortured. I am more worried about those who are being dragged into this," he said.
"One person fell down after getting hit by a baton and then they fired on him. They are citizens of India, not enemies. This is not a Hindu-Muslim fight. Some anti-social elements were behind it and the rest was done by police and the administration," he said.
Rahman said Prime Minister Narendra Modi should visit Sambhal.
"The prime minister should come forward and go and see the situation. Do not make Sambhal another Manipur," he said.
Rahman blamed the administration for the incidents and demanded a probe monitored by the Supreme Court.
"This was pre-planned by police. They wanted to trigger riots on the first day but I was there, so they did not succeed. Today, INDIA bloc MPs have raised the demand to hold discussions on this issue in the Lok Sabha and a proper investigation monitored by the Supreme Court should be conducted," he said.
SP MP Dharmendra Yadav said people do not have faith in the probe being carried out by the administration.
"The probe into the Sambhal incident should be conducted under the monitoring of a Supreme Court judge, because no one trusts the administration anymore. The administration was behind the whole incident," he said.
Yadav alleged that the violence was orchestrated to divert attention from the malpractices during the recent bypolls in Uttar Pradesh.
"They have done this to distract attention from the malpractices during the bypolls. A petition was filed a day before the polls, the decision taken on the same day, a delegation appointed and even the survey was carried out.
"They said the survey had been completed. Then why did a team visit the place again to conduct another survey? The administration should answer these questions," he said, adding that the SP will continue its struggle for justice.
A magisterial probe into the Sambhal violence is ongoing.
