In Copenhagen, donor countries pledged to raise US$30 billion in
“fast start funds” and an additional US$100 billion a year by
2020 to invest in reducing emissions and adapting to the impacts
of climate change. Though the commitments are clear, the
delivery is uncertain. By the June UNFCCC meetings in Bonn,
countries will need to start drafting a set of decisions on the
financial architecture to manage and distribute these climate
funds. By embarking on several climate change initiatives,
including an assessment of progress in implementing the
Strategic Framework on Development and Climate Change (SFDCC)
and the revision of its Energy Strategy, the World Bank has
positioned itself to play a role in the management of new
climate funds. The Bank already hosts several climate related
trust funds, including the Climate Investment Funds. It is the
trustee of the Global Environment Facility (GEF), and its
largest implementing agency. The question is whether the Bank
should be entrusted with an even larger role in t