When the Board meets from June 28-30 in Songdo, South Korea for its 13th Board meeting, the 24-member body will focus on working towards closing Fund structural and policy gaps in order to ramp up finance delivery to developing countries. But don’t expect quick one-step fixes.
Globally, political leaders are lauding the acceptance of the global and legally binding Paris Agreement on Climate Change at COP 21 as a historical moment. It achieves a goal long believed unattainable. However, judged against the enormity of the challenge and the needs and pressure from people on the ground demanding a global deal anchored in climate justice (“system change, not climate change!”), the Paris Agreement can only be called a collective failure and disappointment. Read a critical assessment by hbs colleagues from around the world.
By Lili Fuhr, Liane Schalatek, Maureen Santos, Hans JH Verolme, Radostina Primova , Damjan Bogunovic