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Remarks by World Bank Group President David Malpass at the G20 Finance and Central Bank Governors’ Meeting at the 2023 Spring Meetings – Session 2: Sustainable Finance

· David Malpass, President of the World Bank Group (International)

Summary written by Dark Majestic in its own words · topics: climate, energy and nature, development and emerging economies

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· David Malpass Wiki · World Bank Group WikiRemarks by World Bank Group President David Malpass at the G20 Finance and Central Bank Governors’ Meeting at the 2023 Spring Meetings – Session 2: Sustainable Finance

ContextRemarks by World Bank Group President David Malpass at the G20 Finance and Central Bank Governors’ Meeting at the 2023 Spring Meetings – Session 2: Sustainable Finance.

Why it mattersMalpass proposes standardised climate assets to attract private investors.

Problems raised
  1. Developing countries lack capacity to implement climate plans.
  2. Transition paths are costly.
  3. Private climate finance is insufficient.
Solutions proposed
  1. Use Country Climate and Development Reports.
  2. Integrate climate and development in lending.
  3. Create a global asset class through standardisation and risk diversification.
Read full speech on worldbank.org ↗

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