World Bank's Credibility at Stake if Climate Change Ignored

Featured World Bank's Credibility at Stake if Climate Change Ignored

World Bank (WB) President Jim Yong Kim said: ''if we turn our backs on science and ignore climate change, we would lose all our credibility,'' prior to his meeting with the IMF.

At a press conference before the Spring Meetings of the World Bank Group and the International Monetary Fund, Kim pointed out that climate change mitigation and adaptation projects would continue to be a priority.

'The science of climate change has not changed with a particular election, and I do not see it is going to do so in the future,' he said in reference to US President Donald Trump and his doubts about global warming.

On several occasions Trump expressed his decision to revert some of the environmental regulations established by former President Barack Obama, as well as reducing his contribution to the WB, an institution to which the United States is the main shareholder.

At the press conference, IMF President Christine Lagarde stated that there was room for improvement in the global trading system. However, it should be done cooperatively.

Lagarde's statements are in opposition to the trade policy promoted by Trump to encourage isolation in favor of the economy of his country.

Lagarde proposed working on how to make trade fairer and more efficient, which should include a balanced field without resorting to protectionist measures.

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