Columbia Energy Exchange

Against the backdrop of climate change, a global debt crisis is raising concerns about the cost of the energy transition. Countries in the Global South — which are trying to balance economic development and climate adaptation — are calling for reforms to the global financial system to get more access to cheaper capital.   The World Bank, which provides loans and grants to emerging and developing economies, is a major financier of international development. Last year, it delivered $38.6 billion in climate finance. But because of its significant capacity, the organization is often scrutinized for how it manages and allocates funds. So, how can the global financial system better support emerging and developing economies amid a changing climate? And how is the World Bank under a new president, Ajay Banga, working to meet these challenges?  This week host Bill Loveless talks with Axel van Trotsenburg about the World Bank’s climate agenda.  Axel is the World Bank’s senior managing director, responsible for developm