What is the World Bank Group’s strategy to deal with climate change?
At the October 2008 World Bank Group Annual Meetings, a Strategic Framework for Development and Climate Change was adopted. Recognizing the primacy of the UNFCCC process, the Framework will help the World Bank Group (IDA, IBRD, MIGA and IFC) provide better support to clients in developing countries in achieving their poverty reduction and growth objectives. It recognizes the added costs and risks of climate change, as well as new economic opportunities arising from global climate policies, and gives major attention to climate risk management and adaptation, a top climate-related priority in most developing countries. The Framework will guide the specific strategies and business plans of World Bank, IFC, and MIGA regions and sectors in supporting developing countries. It also aims to better position the Bank Group to facilitate global action by all countries. The Framework is based on six action areas, each addressing both adaptation and mitigation: • Support climate actions in country-
