Public and policy discourse has been imprecise in its definition of what constitutes a global public good, with implications for our understanding of how MDBs contribute to them. Once this is corrected for, it becomes apparent that, except under restrictive conditions that are unlikely to hold in th...

The principle of a “just transition” is anchored in the 2015 Paris Agreement. But only in recent years has the principle been fully recognized as an enabler and accelerator of power decarbonization efforts by integrating measures that aim to mitigate the direct, indirect, and induced adverse impacts...

While the Just Energy Transition Partnerships (JETPs) for South Africa and Indonesia appear to deliver a blueprint for the move away from coal, barriers, risks, and gaps call into question whether their targets can be delivered at the planned pace and scale.

Demand for the IMF's Resilience and Sustainability Trust (RST) is strong, and the RST is becoming the IMF’s de facto climate finance facility. At the same time, the RST faces a number of challenges, including being far too small to confront climate resilience. Early lessons from RST pilots in Costa...

Radically reformed and strengthened MDBs are essential to address the immense global challenges in today’s world. The welfare of billions of people and the health of the planet, the foremost example of a global public good (GPG), are under threat. To make matters worse, the problems are getting bigg...

In the fall of 2022, World Bank shareholders (member governments, including the United States) called for a suite of reforms aimed at better enabling the institution to respond to today’s global development challenges, such as pandemics, climate change, and natural disasters. The World Bank is one o...

Low-income countries are in a battle for their lives and livelihoods, but they lack the resources to respond effectively. As the largest single source of development finance for the world’s poorest countries, the World Bank’s International Development Association (IDA) must be at the center of the s...