World Bank to prioritise support for climate vulnerable states

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Washington: World Bank Vice President Rachel Kyte says the increasing evidence of rising sea levels, drought and other extreme weather events has convinced the organisation to prioritise support for climate vulnerable countries.

Speaking to ABC Radio in Australia she said: “It means as an organisation that it’s focused on helping countries end poverty and helping countries build a shared prosperity for the future that we understand that that is not going to be possible. If climate change continues at the rate at which we and the science predict.”

Rising sea levels threaten the existence of many Pacific nations – some are already making plans to evacuate their populations

Indonesia: Following its landmark commitment to end all deforestation on natural forest land, Asia Pulp and Paper (APP) has revealed the debt of gratitude it owes to Greenpeace – the campaign group that has spent much of the past decade orchestrating boycotts against the company. (Business Green)

China: Chinese solar power company Suntech is in trouble after failing to repay $541m due on bonds – how the government deals with this situation could have major implications for the global climate challenge (Guardian)

UK: George Osborne has brushed aside concerns over shale gas by committing to an exploration drive in the UK with generous tax breaks for fracking companies and promises to hand financial incentives to local communities. (Guardian)

South Africa: Country’s climate chief says world leaders need to re-engage with climate change this year in order that plans to agree a legally binding deal in 2015 remain on course. (RTCC)

Green Climate Fund: Key clean energy financing mechanism in limbo after new arguments over sources of funding erupt at last week’s meeting (RTCC)

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