13
June 2008: Speaking on the sidelines of the meeting of finance ministers for
the Group of Eight (G8), held in Osaka, Japan, World
Bank President Robert B.
Zoellick presented two new climate investment funds built to support the
UNFCCC’s efforts to address the effects of, and mitigate, climate change.

“These
climate investment funds have been established through a very inclusive and
consultative process that’s been in support of the Bali Action Plan. In designing
these funds, we have taken great care to recognize the primacy of the UNFCCC in
the climate negotiations, and to make sure that we support those negotiations,”
said Zoellick. The Strategic Climate Fund and the Pilot Programme on Climate Resilience
are expected to provide critical additional resources to test new approaches
and to create new knowledge for effective adaptation. At the same time, the
Clean Technology Fund will provide additional funds for programmes in
developing countries to reduce greenhouse gas emission levels through increased
energy efficiency, and the deployment of new technology and approaches. [Read more]