World Bank approves climate funds before G8 summit

Reuters: The World Bank on Tuesday agreed to establish two investment funds to help developing economies switch to clean energy technologies to curb carbon emissions and assist poor countries adapt to climate change. The approval of the Clean Technology Fund and Strategic Climate Fund comes days before a summit of Group of Eight leaders from industrial countries in Hokkaido, Japan, on July 8 where climate change issues are on the agenda. Warren Evans, director of the World Bank’s …

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