The search for solutions to sustainability needs to go beyond individual countries. A poverty-focused environmental agenda will require an increased emphasis on the local aspects of global environmental challenges, on reducing the impacts of the degradation of the global environmental commons on developing countries, and on interventions that are carefully targeted to benefit developing countries and local communities.
Our global environmental initiatives will build on five principles:
- focus on the positive linkages between poverty reduction and environmental protection
- focus first on local environmental benefits, and build on overlaps with global benefits
- address the vulnerability and adaptation needs of developing countries
- facilitate transfer of funds to developing countries to help them meet the costs of generating global environmental benefits
- stimulate markets for global public goods
As an implementing agency for the Global Environment Facility (GEF) and the Multilateral Fund for the implementation of the Montreal Protocol, the Bank is mobilizing grant funding for environmental action with global benefits. Through the Prototype Carbon Fund (PCF), and other mechanisms, the Bank is facilitating market solutions to environmental problems.
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