The Development Banks’ Joint Roadmap for Climate-Health Finance and Action aims to significantly increase and prioritize investments to address the health impacts of climate change through coordinated, strategic partnerships.
June 12, 2024 – The World Bank, in collaboration with key global partners, unveiled the Development Banks’ Joint Roadmap for Climate-Health Finance and Action, addressing the urgent need for increased investment at the intersection of climate change and health. The event, held at 7:00 am EDT and 7:00 pm PST, highlighted the severe threat climate change poses to global health and economic stability.
Climate change, the foremost threat to health and wellbeing in the 21st century, is projected to push 132 million people into extreme poverty by 2030, with health impacts driving a third of this number. Despite this significant risk, current investments in climate-health initiatives remain alarmingly low.
The Development Bank Working Group for Climate-Health Finance, formed in July 2023, unites Multilateral Development Banks (MDBs) and Public Development Banks (PDBs) to enhance their collective impact. This group is dedicated to helping countries address the health effects of climate change while promoting the health sector’s role in climate adaptation and mitigation.
The newly launched roadmap presents a strategic framework to mobilise and prioritise funding, fostering commitments for a people-centred approach to climate and health action. The event tackled critical questions, such as the impact of climate on health and poverty, the role of development banks in leveraging financial resources and expertise, and the key opportunities for innovation and co-investment in climate and health.
This initiative emphasises the necessity for cross-sector partnerships to identify and implement the most effective and cost-efficient solutions, ensuring sustainable financing for climate and health action.
