6 June 2008: The World Bank's Carbon Fund is facilitating a
US$8.37 million project in southern Nicaragua that plans to turn 600 hectares
of privately-owned former cattle ranches into new-growth teak forests. The Nicaragua Precious Woods Project began in August 2006,
and intends to absorb nearly 300,000 tons of carbon emissions by the year 2017
while conserving approximately 350 hectares of secondary forest and mature
29 May 2008: The World Bank announced a new
programme to address the impact of tropical glacier retreat in Bolivia, Peru, and
Ecuador. During the project launch in Lima, Peru, Carlos Felipe Jaramillo,
World Bank director for Bolivia, Ecuador, Peru, and Venezuela noted that “Climate
change will heavily impact Andean countries' economies, particularly the poor.
Adapting to climate change is crucial given the severe and irreversible effects
it will have on the region.”
21 May 2008: The Commission on Growth and Development has released its report entitled “The Growth Report: Strategies for Sustained Growth and Inclusive Development,” in which it analyzes, among other issues, whether deve loping countries can grow as fast as the fastest growing economies without causing global greenhouse gases to spiral out of control.
23 May 2008: Representatives from 40 donor and developing countries, meeting in Potsdam, Germany, reached an agreement on the creation of two international investment funds that will provide innovative financing for developing countries to pursue cleaner development paths and protect themselves from the impacts of climate change.
12 May 2008: “At a time that global cooperation to reduce the risk of climate change is more important than ever before, the prospects for developing countries benefiting from the carbon market are in question,” said World Bank Senior Carbon Market Specialist Karan Capoor, co-author of the “State and Trends of the Carbon Market 2008,” released on 7 May 2008 at the Carbon Expo in Cologne, Germany.
May 2008: As part of its Global Distance Learning Programme on Natural Disaster Risk Management, the World Bank Institute (WBI) will hold a series of online courses on natural disaster risk management, including on climate change and disaster risk management, from 26 May 2008 to 1 May 2009.
May 2008: The website for global consultations on a Strategic Framework on Climate Change and Development for the World Bank Group (WBG) has been updated with translations in Arabic, Chinese, French, Portuguese, Russian and Spanish.
Robert B. Zoellick, World Bank President, called, on 2 April 2008, for a “New Deal for a Global Food Policy” to combat world hunger and malnutrition, in the face of skyrocketing food and oil prices, through a combination of emergency aid and long-term efforts to boost agricultural productivity in developing countries. Zoellick said the new deal is needed to combat the “forgotten” Millennium Development Goal of overcoming malnutrition, a problem that causes 3.5 million deaths a year in children under 5 and has long-lasting impacts on health and achievement. According to Zoellick, this new deal “should focus not only on hunger and nutrition, access to food and its supply, but also the interconnections with energy, yields, climate change, investment, the marginalization of women and others, and economic resiliency and growth.”
The World Bank has released a concept and issues paper that develops a draft for a comprehensive Strategic Framework on Climate Change and Development (SFCCD) for the World Bank Group (WBG). The draft will be subject to public consultations and proposed for endorsement by the Board in September 2008.
In an address to the 9th Annual Global Development Network Conference in Brisbane, Australia, the World Bank's Managing Director, Operations, Graeme Wheeler, said “climate change is more than an immense development challenge,” and emphasized that “it is a major threat to all our economic and political systems and requires vision, courage, and leadership to address it.”
Wheeler stressed that climate change is the second major threat to long term prosperity.