World Bank Leader, Accused of Climate Denial, Offers a New Response
Many experts say the World Bank under Mr. Malpass is not doing enough to align its lending with international efforts to reduce greenhouse gas emissions, and is moving too slowly to help poor countries deal with rising seas, drought and other extreme weather resulting from the warming of the planet. The bank continues to fund oil and gas projects, despite a declaration by the International Energy Agency that countries must stop financing new fossil fuel development if the world has any hope of averting climate catastrophe.
Who is David Malpass? Mr. Malpass is the president of the World Bank. He was nominated to lead the bank in 2019 by former president Donald J. Trump. Mr. Malpass, a former Bear Stearns economist and Treasury under secretary for international affairs, has long faced questions over his views on climate change.
What is Mr. Malpass’s record on climate? After his appointment as president of the World Bank, Mr. Malpass showed restraint in discussing the environment and global warming. Since President Biden’s election, Mr. Malpass has described climate change as an “immense” issuе. Under his leadership, the World Bank has launched some climate initiatives, though critics say a much more aggressive approach is needed.
Why does his position on climate change matter? The World Bank is the world’s largest development bank and has the power to fund far-reaching economic and social projects, including climate initiatives. As such, it has unique power and tools to help developing countries prepare for climate change, something that is increasingly crucial in our warming world.
“This landed because there is a very real debate about how all the capital sitting in the bank can be deployed more quickly and assertively given the situation the world is in,” said Rachel Kyte, dean of the Fletcher School at Tufts University, who has been participating in climate discussions at the United Nations this week. “This is an open wound, and whatever that was from President Malpass was disappointing.”
World Bank staff members exchanged text messages lamenting how Mr. Malpass bungled his initial response on Tuesday and expressing disappointment that he had undercut the bank’s work on climate initiatives, according to people familiar with the matter.
Some speculated about whether Mr. Malpass would leave before his term expires in 2024. He was nominated to lead the World Bank in 2019 by President Donald J. Trump. Although the United States traditionally picks the leader of the World Bank and is its largest shareholder, removing Mr. Malpass before the end of his term would require the backing of the board of governors.
One of those governors, Jochen Flasbarth, a senior economic official in Germany, reacted to Mr. Malpass’s Tuesday performance with alarm, saying on Twitter “We are concerned about this confusing signals about scientific evidence of #climatechange from the top of @WorldBank.”
The reaction from many others was even sharper.
“It’s simple,” Christiana Figueres, who helped negotiate the Paris climate agreement as head of the United Nations climate agency, said on Twitter on Wednesday. “If you don’t understand the threat of #climatechange to developing countries you cannot lead the world’s top international development institution.”
Article source: https://www.nytimes.com/2022/09/22/climate/malpass-world-bank-climate.html