Climate change a ‘fundamental threat’ to development: World Bank
Global governments must dig deep to combat climate change, the World Bank chief said Thursday, describing it as a “fundamental threat” to development.
Jim Yong Kim warned that governments “must act now” to limit global warming and finance policies that favor sustainable development, otherwise the impact would be “devastating.”
“Climate change is a fundamental threat to development in our lifetime,” Kim said in a video address to an environment conference in Hong Kong hosted by the Potsdam Institute for Climate Impact Research — the first time the meeting has been held in Asia.
“This is the year when the in- ternational community can and must find ways to finance climate change interventions and development,” he said.
Kim warned of risks in Asia and the vulnerability of mega cities, which are prevalent in the region.
“Sea-level rise of 15 centimeters ( six inches) coupled with more intense cyclones threatens to inundate much of Bangkok by the 2030s,” he said, reiterating research by the Potsdam Institute.
Kim added that the World Bank was working with China, which has overtaken the U.S. as the greatest greenhouse emitter, and other governments in developing countries to promote sustainable growth.