How the World Bank group can scale climate finance

IFC should aim to become the leading equity fund manager and fund-of-funds manager for climate mitigation investment in emerging markets

There has been much criticism of the World Bank for not doing enough on climate. World Bank President Ajay Banga knows he must respond. But in trying to make the Bank also the world’s Climate Bank, he will need to contend with the complexities of a US-Europe-dominated governance structure, the reluctance of its principal shareholders to make any significant new contributions towards expanding its capital base, and perceptions of the Bank’s own primary mission. This will require pragmatic priority setting and radical action.
 
Common sense suggests that to have the greatest impact on global carbon emissions we must focus