Here in New York this week, world leaders have their plates full. Five years to go, and progress towards the Millennium Development Goals (MDGs) is mixed. Accelerated action is needed urgently. So with this full agenda, why are there so many meetings this week on climate change? Because climate change is about poverty reduction. Developing countries will bear three-quarters of the negative impact of changing weather patterns, water shortages, and rising sea levels, and they are the least equipped to deal with them. Hard won gains in poverty reduction are at serious risk. This is no longer just tomorrow's problem. Impacts are being felt today.
There is an old-fashioned view that rich countries can afford to think about climate change but developing countries have more urgent short-term needs. This is well and truly debunked by the evidence of where developing countries are putting their money. Four out of five countries we work with, list climate change among the top priorities for their anti-poverty plans. In the past twelve months, nearly 90% of Country Assistance Strategies requested by developing countries, and approved by the World Bank’s Board, listed climate change as one of the major pillars for World Bank support.