US urges development banks to step in and help with climate fight ...United Arab Emirates

Washington: US Treasury Secretary Janet Yellen told the heads of the World Bank and other multilateral development banks (MDB) to come up with concrete plans to mobilize significantly more capital to fight climate change and support emission reduction goals. The Treasury said in a statement that Yellen, White House climate envoy John Kerry and the heads of the major development banks discussed ways to “maximize” private capital for climate change finance and re-evaluate the banks’ internal incentives and practices toward that end. “Secretary Yellen encouraged the MDBs to increase their focus on climate adaptation, particularly through private-sector operations, and to support developing cou

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US urges development banks to step in and help with climate fight ...United Arab Emirates

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