A much awaited November report from the UN high level advisory group on climate change finance (AGF) drew criticism for recommending an increasing role for multilateral development banks (MDBs). The noise generated by the report also highlights concerns about the development of a new climate fund hoped to be decided in Cancun, additional trust funds announced at the Bank, and the continued roll-out of the Bank-housed climate investment funds (CIFs).
Access to modern energy across the developing world will be fundamental to ending poverty. Globally, 1.5 billion people still have no access to electricity, and 2.5 billion cook on open fires using wood, dung or charcoal. Frequent power cuts and irregular supply of modern fuels hold back small enterprise and industrial development. Additionally, it is now accepted that a low-carbon future is key