The World Bank is committed to spending $ 25 billion annually on climate finance until 2025, through its Climate Action Plan. The plan includes a program on agriculture and the food sector. The announcement was made at Cop26 in Glasgow. The institute’s decision comes after Prime Minister Mario Draghi (former executive director of the World Bank) had beaten the World Bank at the climate conference last November 1, saying that “today it does very little about the climate”.
Moreover, in an interview with Repubblica, the Nobel Prize for Economics Joseph Stiglitz. may fear “the well-financed opposition of the industrial lobbies”, he explained that if “well managed, the transition can be transformed into a great opportunity for new employment and new development”, thus urging the World Bank to “focus its interventions on environmental sustainability “.