Thread by @mattberkley

@AndrewM_Fischer @sanjaygreddy The World Bank president said the $200 billion is for *combating* climate change. The Guardian headline asserts this as fact.

But the official announcement appears to include $50 billion for *adaptation to* climate change.

The headline also omits his words "over five years".

@AndrewM_Fischer @sanjaygreddy The Guardian headline: " *World Bank* to invest $200bn".
Text: "The World Bank is to make about $200bn (£157bn) available".

But the World Bank president in fact said it was "investing and *mobilizing* " $200bn, though its own headline may mislead.

worldbank.org/en/news/press-…

@AndrewM_Fischer @sanjaygreddy Although the World Bank's claim of "doubling *its* current 5-year investments to around $200bn" may contribute to a misleading impression that the money is all from the World Bank, the Guardian seems to have misrepresented the press release.

@AndrewM_Fischer @sanjaygreddy The Guardian claims that:

"Of the $200bn...half will be loans and other forms of assistance
*from other parts of the World Bank group*, aimed at mobilising
*further* finance from the private sector."

@AndrewM_Fischer @sanjaygreddy But the World Bank press release states that about $100bn is

"combined direct finance from [the World Bank Group] and
*private capital* mobilized by the World Bank Group"

- not specifying how much is public money.

@AndrewM_Fischer @sanjaygreddy On the apparent confusion between funding to "combat climate change" and "adaptation to" it, SDG 13 seems clear on the distinction:

"Take urgent action to combat climate change and its impacts".

@AndrewM_Fischer @sanjaygreddy Is "new" climate money coming from anti-poverty budgets or displacing other important work?

From the World Bank Group 2016 Climate Action Plan:

"the WBG’s commitment to increase the climate-related share of its portfolio from 21 to 28 percent by 2020..."

@AndrewM_Fischer @sanjaygreddy "...with total financing (including leveraged co-financing) of potentially $29 billion per year by 2020. Meeting these targets..."
(2016 World Bank Climate Action Plan)

So it is not clear how $40 billion a year in 2021-25 is "doubling of current five-year plan" in any case.

@AndrewM_Fischer @sanjaygreddy In view of the above targets (28% and $29 billion including "leveraged"), it is not clear why the World Bank press release simply claims:

"In 2018, the World Bank Group provided...$20.5 billion in finance for climate action...meeting its 2020 target two years ahead of schedule".

@AndrewM_Fischer @sanjaygreddy The Guardian also claims:

"This year, the World Bank
*devoted* $20.5bn
*to climate change*,
meeting *the targets* it promised as
*part of the Paris agreement*
two years early. "

Some questions:

Does "devoted" mislead - was some in fact private money?
...

@AndrewM_Fischer @sanjaygreddy Is it always clear which money is for climate change and which isn't?

Is the Guardian wise to repeat the World Bank claim about $20.5 billion?

Which World Bank climate funding targets, plural, is the Guardian referring to as "met"?

@AndrewM_Fischer @sanjaygreddy What is the basis of the Guardian's claim that, with $20.5 billion this year, the World Bank met "the targets it promised as part of the Paris agreement"?

The Paris agreement has, for "developed" countries, "the goal of jointly providing USD 100 billion annually by 2020".