What is the WBG view about the future global climate finance architecture?
The future policy and finance architecture is to be negotiated within the UNFCCC. The WBG recognizes huge financing needs in developing countries. Given the scale of financing needs, climate action calls for a combination of existing and innovative resources and instruments, of both market-based and concessional natures, for both adaptation and mitigation. It is of critical importance that climate finance complements and reinforces – and does not divert – resources for achieving the MDGs.
