Today's discussions will play a key role in advancing reforms aimed at more effectively supporting countries vulnerable to climate change, Jennifer Sara, global director for the World Bank Group's Climate Change Global Practice, said at the Climate and Development Ministerial (C&DM) on the second day of Pre-COP29 in Baku, Report informs.
"Climate and development issues are central to the World Bank's activities. Our vision is aimed at eradicating poverty on the planet. With increasing global warming, we are increasingly facing intense and extreme natural phenomena, the consequences of which disproportionately affect vulnerable countries and communities, undermining progress in achieving all Sustainable Development Goals," she said.
She noted that the poor are most affected by climate change and the natural disasters it causes.
"They fall into a poverty trap, especially in regions with fragile social protection systems. Poor households often use coping mechanisms such as reducing health and education expenses or selling productive assets. All this negatively affects their lives in the long term. Therefore, today's ministerial meeting on climate and development will play a key role in advancing reforms aimed at more effectively supporting vulnerable countries. These countries have a smaller share in global emissions, but their populations face disproportionately severe consequences of climate change," she added.