Supporting green, resilient, and inclusive development

Climate change, poverty, and inequality are defining challenges of our time and it is crucial that we
tackle them together, recognizing the interconnections between people, the planet, and the economy.
The COVID-19 pandemic and its economic impacts have been devastating, and many countries are still
deep in the COVID crisis, even as they face growing climate change impacts. These crises have further
aggravated growing structural weaknesses of the last decade. As we support countries and private sector
clients in responding to the ongoing crisis and build back, there is an urgent need to integrate climate and development strategies to support green, resilient, and inclusive development.3 Even if the Sustainable Development Goals (SDGs) are achieved by 2030, climate change could easily erode those gains.

Climate change impacts in terms of lost livelihoods, food and water insecurity, and adverse human capital
impacts together with poverty and inequality, present a serious threat to the World Bank Group’s (WBG)
twin goals of alleviating extreme poverty and boosting shared prosperity. Where climate change interacts
with other social, economic, and environmental pressures, compound risks emerge that can increase
vulnerability, exacerbate grievances, and deepen pre-existing fragility. Climate change also increases the
risks of internal displacement, migration, and instability. The costs of unabated climate change mount every year, and prompt and ambitious climate action is needed in all countries. Leveraging and mobilizing private capital in support of this agenda is also of paramount importance, to achieve both scale and impact.

source:

https://openknowledge.worldbank.org/entities/publication/ee8a5cd7-ed72-542d-918b-d72e07f96c79