The World Bank’s Post

A number of NGOs have published recently a "Banking on Climate Chaos report 2024". This 120 pages long report is a review of how major global banks fund fossil fuels. It discloses the loans and financial support from the 60 largest global banks. I am personally not comfortable with the style, the confrontational tone and the underlying anti-corporate ideology of this report. Nevertheless I think it must be taken seriously, and I have two takeaways: - this "name and shame" exercise is a reality that corporations cannot ignore, and in particular when a clear gap exists between public commitments and what can be reported by independent organisations. Many stakeholders - media, the public and now regulators ... - are paying attention. - the methodology used to produce this report sounds serious: I do not think it is a good response for corporations to either ignore or belittle such voices. https://lnkd.in/dmtsphSi #ESG #auditcommittee #risk

If private capital is to be mobilized to tackle the challenges of development, policymakers will need a reliable gauge of the #investmentclimate in each country. Norman Loayza today outlined The World Bank's efforts to identify performance measures that can benefit private firms, their workers, the environment, and society as a whole. #WBMeetings. https://lnkd.in/eEJGpi3u

Announcement: In our quest for continuous updates of our data, we're going to add Business Ready (B-Ready) as a new indicator to your reports. 🚀 From September 25, 2024, we will be replacing the World Bank's Ease of Doing Business indicator with B-READY in our study. B-READY is the World Bank’s new flagship report benchmarking the business environment and investment climate in most economies worldwide. The report assesses the regulatory framework and public services directed at firms, and the efficiency with which regulatory framework and public services are combined in practice. Data are comparable across economies and over time. We look forward to providing you with this indicator to help you in your market selection decisions. Go Global. Wisely. Tatiana Miron, Charly Caudoux, Christelle Maffre, Paul Grossman, The World Bank #MarketSelection #International #goglobal #PrimeTarget

Global development is, ultimately, about tangible improvements in the lives of people and places that are often left behind. It's great to see The World Bank Group lean even further in this direction with a new approach to measuring impact - shifting focus from inputs to outcomes, from money spent to lives changed. The new set of 22 indicators, covering everything from health to climate, will help us paint a better picture of how much money is spent and where, but more importantly how that money is making a meaningful, measurable difference in the world. Learn more about this new approach here: https://lnkd.in/eNZbUNp5 #ImpactMeasurement #WorldBank Photo: Quy-Toan Do / World Bank

Following the news last week that several leading US banks came up against data gaps and modelling challenges during a climate scenario analysis pilot, I spoke to industry experts to investigate why the banking industry is still struggling to understand climate-related financial risks. Thanks to Adam D., global insurance industry leader at Capgemini, Tej Vakta, head of sustainability solutions for financial services at Capgemini, and Rachel Delacour, chief executive and co-founder of sustainability data management software company SWEEP for your comments. https://lnkd.in/ejWVCMqU #climatedata #financialservices #climatechange #banking

The World Bank's Ed Olowo-Okere calls for global governments to embrace a new social contract with citizens in this Q&A with Protiviti's Charles Dong. Watch and subscribe! VISION by Protiviti #futureofgovernment

🌍 The World Bank Policy shapes the global financial landscape, impacting us all. 🌐 As a professional in the field for over 15 years, I can't stress enough how crucial it is to understand its significance. 💼 Let's delve into why this policy matters and how it influences our business strategies. 🔍 Key Points: 1. Global Impact: World Bank Policy directly influences economic stability worldwide. 2. Sustainable Development: Focused on fostering long-term, sustainable growth. 3. Innovation Drive: Encourages innovation in business practices for a resilient future. 4. Collaboration Hub: Provides a platform for global cooperation in tackling challenges. What are your thoughts on the World Bank Policy? Share your insights in the comments! 👇 Let's foster a discussion on its impact and implications. 🤔 #WorldBank #GlobalEconomy #SustainableDevelopment #BusinessStrategy #Innovation #GlobalCollaboration #FinancialStability #PolicyMatters #EconomicImpact #ProfessionalInsights

Productive virtual discussion yesterday morning with The World Bank MD Anna Bjerde on our various upcoming operations, continuing #Egypt's long-term strategic partnership with the World Bank Group. In particular, programs focus on leveling the playing field to unleash private sector growth and increase job creation through supporting the Government’s structural reform efforts and State Ownership Policy by: ➡️ Enhancing economic competitiveness and improving the business environment ➡️Building macroeconomic resilience ➡️Supporting the green transition More: https://lnkd.in/dGnjvfkd

The banking sector is exposed to the risks of climate change through its financial activities, far more than its operations, and has much to gain from opening up opportunities in the economic transition. As scrutiny around climate transition strategies rises, structured engagement has a pivotal role to play in assessing banks’ readiness to meet this challenge. Key takeaways: - A decarbonising economy will impact banking as some sectors they serve will be adversely affected or disrupted, while emerging sustainable industries will require backbone financing. - This exposure to multiple sectors adds complexity to assessing banks’ preparedness for climate action, yet it is necessary to manage potential portfolio risk and upside opportunities. - Our bespoke research framework for analysing the climate strategies of banks and guiding our voting was updated this year to provide a broader assessment of climate performance. - Combining proprietary sustainability research with engagement, we have higher levels of conviction with respect to the climate performance of banks. By Marie Rupp, Senior Research Analyst and David Shammai, Senior Stewardship Analyst at #AllianzGlobalInvestors #ClimateChange #Banks *** DIRECT ACCESS TO THE DOCUMENT (pdf) ***

The banking sector is exposed to the risks of climate change through its financial activities, far more than its operations, and has much to gain from opening up opportunities in the economic transition. As scrutiny around climate transition strategies rises, structured engagement has a pivotal role to play in assessing banks’ readiness to meet this challenge. Key takeaways: - A decarbonising economy will impact banking as some sectors they serve will be adversely affected or disrupted, while emerging sustainable industries will require backbone financing. - This exposure to multiple sectors adds complexity to assessing banks’ preparedness for climate action, yet it is necessary to manage potential portfolio risk and upside opportunities. - Our bespoke research framework for analysing the climate strategies of banks and guiding our voting was updated this year to provide a broader assessment of climate performance. - Combining proprietary sustainability research with engagement, we have higher levels of conviction with respect to the climate performance of banks. By Marie Rupp, Senior Research Analyst and David Shammai, Senior Stewardship Analyst at #AllianzGlobalInvestors #ClimateChange #Banks *** DIRECT ACCESS TO THE DOCUMENT (pdf) ***