Tackling climate change will require reforming the World Bank and IMF – here are two options

By Nicola Limodio, Assistant Professor of Finance, Bocconi University

A global transition to a low-carbon economy will require investments of at least US$4 trillion a year (£3.4 trillion) according to the implementation plan agreed at COP27 UN climate change summit in Sharm El-Sheikh, Egypt. Delivering this funding will involve nothing less than “a swift and comprehensive transformation of the financial system”, a UN bulletin reads.

At the start of the conference, the prime minister of Barbados, Mia Mottley, proposed…

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