Loss & Damage
Commitments and Ambitions
World Bank Group's role as L&D fund host comes into sharp focus and planning is well underway for COP29.
Washington DC, US
Washington DC, US
World Bank Group's role as L&D fund host comes into sharp focus and planning is well underway for COP29.
An expert group is established to review the Common Framework.
Pledge for technical assistance to establish national processes; set up national trigger mechanisms, how to use money in light of emergency, and other operational aspects.
Broad discussion on ways to enhance the capacity of the Resilience and Sustainability Trust (RST)and Poverty Reduction and Growth Trust (PRGT), and exploring innovative uses of SDRs, including the possibility of utilizing them through other MDBs.
The second consultation led by the Global Shield Leaders Team (GSLT) to gain insights from civil society organizations and other experts.
The World Bank guarantees platform highlights successful capital mobilization to date, agrees to explore increasing its capital mobilization target numbers.
Heads of Procurement at Multilateral Development Banks show their advances, set in July 2024, for supply chains decarbonization.
Countries clearly state the support needed from MDBs, DFIs, and the IFA to develop credible, ambitious NDCs, quantified goals, and LTSs.
There is a collective call for a framework on JET-Ps as a country-level investment plan, including financial structuring, stakeholder engagement, and supply chain impacts.
At least one credit rating agency agrees to work with MDBs to revise their rating methodology.
The MDBs agree to examine their risk policies and potentially adjust their criteria.
At least 2 MDBs announce plans to launch their first full-scale securitization pilots under the OtD framework
Continued momentum towards harmonizing national taxonomies and supporting data access to enhance climate finance for EMDEs. This includes reviewing the GEMS database's progress and pushing for more granular, actionable data.
Early project development is a key topic of conversation and highlighted as a priority for regional MDBs.
Analysis underway/launched on the size of the global protection gap.
Establish a forex facility between the IMF and World Bank, ready to guarantee $1trn in investments for the green transition against forex risks.
Regional MDBs discuss the support needed to maximizing complements between existing taxonomies into a more regionally-focused taxonomy. The World Bank Group convenes stakeholders, including the private sector, to discuss the use of the GEMS database.
Findings on research to use carbon offsets for fossil fuel phaseout are widely shared.
The World Bank guarantees platform highlights successful capital mobilization to date, agrees to explore increasing its capital mobilization target numbers.
The World Bank has introduced a high-level council focused on creating job opportunities for young people, which held its first meeting during the conference.