World Bank President: New Climate Regime Depends on Recognizing Development Interests While Shifting to a Low Carbon Path

A World in Crisis Means a Chance for Greatness - Robert B. Zoellick, President of the World Bank Group 26 October 2008: In an article published in the Washington Post newspaper, World Bank President Robert Zoellick outlines what it will take for the aspiring candidates to the US presidency to be “a 21st-century Franklin D. Roosevelt.”

He underlines the need for a new form of multilateralism that is flexible, includes “rising economic stakeholders,” and strives to “connect growth, development, trade, energy and climate change.” He states that the negotiation of a new climate regime depends on recognizing development interests while shifting to lower carbon growth. He adds that the new US president should build on his predecessor's financial innovations for development, including the new Climate Investment Funds that were approved by the Board of Directors of the World Bank in July 2008, and to which donors pledged over US$6.1 billion in September. [World Bank Press Release]