At the Center for Global Development, we have been avidly nurturing the creation of the fund, stretching back to the G20 High Level Independent Panel report which proposed its creation as a Financial Intermediary Fund within the World Bank. We have offered a roadmap for how to operationalize the fun...

The longer the World Bank’s biggest shareholders stay mum on the overall package of support, the higher the likelihood that we get more business as usual and more unconvincing fodder for summits and high-level meetings even while the Earth literally burns.

The World Bank’s draft Roadmap for reform is the institution’s initial attempt to respond to the challenge laid down by major shareholders, led by the US, to respond forcefully to the crisis of climate change and to reinvent itself. In our view, the draft doesn’t respond sufficiently to that policy ...

A central objective of climate policy is the reduction of carbon emissions, either by promoting renewable energies and increasing energy efficiency across sectors, or by imposing restrictions on activities contributing to greenhouse gas (GHG) emissions. The financial sector is expected to play a maj...

With the abandonment of its Zero COVID policy, the Chinese economy is expected to rebound and contribute substantively to global economic growth in the latter part of 2023. This is projected to add to world demand for oil, more than offsetting falling demand from advanced countries whose economies a...

The World Bank management’s Evolution Roadmap suggests the institution is reconsidering its ‘twin goals’ mission statement of eradicating extreme poverty (ending $2.15 poverty by 2030) and boosting shared prosperity (raising the incomes of the bottom 40 percent in each country). It is reassuring tha...

In Australia and elsewhere, more and more homes are becoming uninsurable due to hazards intensified by climate change. This is a slow-cooker issue which will render some areas de facto uninhabitable, leading to gradual movement out of at-risk regions. Here’s a look at how the world responded to thes...

The Middle East and North Africa (MENA) is addicted to fossil fuels but so too is the rest of the world. An energy transition will require a coordinated global shift in both the supply and the demand for fossil fuels and clean(er) energy, and multilateral institutions can play an important role.