World Bank to spend 28% of investments on climate change projects

The world's biggest provider of public finance to developing countries will refocus its financing efforts towards tackling climate change, group said

The World Bank has made a "fundamental shift" in its role of alleviating global poverty, by refocusing its financing efforts towards tackling climate change, the group said on Thursday.

The world's biggest provider of public finance to developing countries said it would spend 28% of its investments directly on climate change projects, and that all of its future spending would take account of global warming.