Climate negotiations have focused on reaching a top-down international agreement and on mobilizing a pool of financial resources. This brief explains the urgent need for a new entity to provide nonfinancial services to faciliate and augment climate action that any nations and private actors take. It explores one possible path for filling the gap: the creation of a new arm of the World Bank.
Few problems are as pressing and as existential for the world as climate change, and few have proven to be as intractable. Three decades of international negotiations on climate change have yielded little by way of action that would substantially slow, let alone reverse, human-caused climate change. Things can be different.