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The vast majority of emerging countries participate only marginally in financing initiatives against global warming o adaptation of societies to confront climate change, reported yesterday Thursday the World Bank (BM).
According to data from the agency based in Washingtonmore than 60% of banks established in emerging countries, whose GDP per inhabitant is located between 1,136 and 13,845 dollars annually, allocate less than 5% of loans to companies or actions that have a positive impact on climatic terms.
More than 25% of these entities do not invest in this area at all, according to a World Bank report.
In some cases, banks do not find support in regulatory authorities: while more than 76% of developed economies adopted systems To identify “green” financing in order to help financial institutions detect it, only 10% of emerging countries have developed such mechanisms.
“We need private banks to take part in the effort” against global warming, said the director in charge of development policies of the Banco Mundial, Axel van Trotsenburg, “The adaptation (to this phenomenon) is underfunded,” said Pablo Saavedra, vice president in charge of prosperity at the World Bank, also quoted in the statement.
“Only 16% of loans in emerging or developing countries are allocated to adaptation” to new weather conditions, “And of this small part, 98% is public financing,” he explained.
The lack of stability of the financial system in some emerging countries is one of the difficulties that explains these percentages, estimated the World Bank.
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2024-09-06 07:43:34