World bank to focus future investment on clean energy

World Bank will only fund coal projects in cases of ‘extreme need’ due to the risk climate change poses to ending world poverty, says Jim Yong Kim

The World Bank will invest heavily in clean energy and only fund coal projects in “circumstances of extreme need” because climate change will undermine efforts to eliminate extreme poverty, says its president Jim Yong Kim.

Talking ahead of a UN climate summit in Peru next month, Kim said he was alarmed by World Bank-commissioned research from the Potsdam Institute for Climate Impact Research in Germany, which said that as a result of past greenhouse gas emissions the world is condemned to unprecedented weather events.

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Source Network Front | The Guardian http://ift.tt/1ADhRAw

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