Remarks by World Bank Group President David Malpass at the 2022 Annual Meetings Opening Press Conference

Abstract

These remarks were delivered by World Bank Group President David Malpass at the 2022 Annual Meetings Opening Press Conference on October 13, 2022. The World Bank is the biggest funder of climate action. We are proposing at these meetings a new trust fund called SCALE that will allow the world and the global community to put funding into global public goods. That's the connection that needs to be set up within the global system to have an impact on greenhouse gas emission reduction. We're putting out the CCDRs, the Country Climate and Development Reports, at a rapid clip. China's came out yesterday; Vietnam's, earlier in September; and a host of others. We've done 10 countries and there will be another 20 by the time of COP27, which we're building up for. We were very pleased to have a major contribution from the U.S. to the Clean Technology Fund, which is one of the climate trust funds. To summarize, the world is facing a very challenging environment because of the advanced economies, and that has serious implications for developing countries.