Scrap fossil fuel subsidies now and bring in carbon tax, says World Bank chief

Jim Yong Kim calls for five-point plan to deliver low-carbon growth, including removal of incentives to exploit oil, gas and coal

Poor countries are feeling "the boot of climate change on their neck", the president of the World Bank has said, as he called for a carbon tax and the immediate scrapping of subsidies for fossil fuels to hold back global warming.

Jim Yong Kim said awareness of the impact of extreme weather events that have been linked to rising temperatures was more marked in developing nations than in rich western countries, and backed for the adoption of a five-point plan to deliver low-carbon growth.

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