By Judith Ugwumadu | 23 May 2014
Climate change represents a ‘fundamental threat’ to efforts to tackle poverty and countries must agree collective action to tackle it as part of their plans for international development, the World Bank has said.
Speaking at the World Economic Forum meeting on East Asia in the Philippines on May 21, Rachel Kyte, vice president and special envoy on climate change at the bank, said quick action was vital.
Climate change is not just an environmental challenge, but represented a fundamental challenge to economic growth and financial stability, she said.
‘Countries need to take bolder action now before the impacts of climate change put prosperity out of reach for millions and roll back decades of development. If we don’t confront climate change, we won’t end poverty. The cost of inaction far exceeds the cost of action.’
Governments should put resilience to climate change at the core of development plans, she added.
The Philippines was at the forefront of dealing with the effects of climate change, she said, highlighting the impact of recent storms including Typhoon Haiyan.
‘During my visit to several municipalities in Leyte [an island in the Visayas group of the Philippines], I have seen how communities – working with local and international NGOs, local governments, national government agencies, private sector and development partners – are beginning to rebuild their lives,’ she told the WEF’s Climate Smart Growth session.
‘The task of rebuilding, in fact seizing the opportunity to build back better, is enormous. If the funds can move more smoothly to those accountable for development at the local level and with the support of partners, I believe the people in the Visayas affected by the typhoon will overcome this challenge.’
