WASHINGTON (Reuters) -The World Bank on Tuesday agreed to boost its spending on climate change to 35% from 28% and to provide annual progress reports to its board after its draft climate change action plan came under fire for lacking a clear implementation strategy.
The bank, the largest source of climate finance for developing countries, said it would also publicly release a roadmap to show how it will help those nations meet their Paris climate accord targets.
Bank officials pledged to provide the board with regular updates, with details to be included in an addendum to the plan, Genevieve Connors, who oversees tracking and reporting of climate finance for the World Bank, told Reuters.
