TRUMP, CLIMATE ACTION IS UNSTOPPABLE!
Reaffirming low-carbon future
On Tuesday 28 March, President Trump unravelled his predecessor’s climate policy by signing an executive order that, amongst other things, undoes restrictions on emissions by coal-fired power plants. Obama’s climate measures would have resulted in an estimated 26-28 percent reduction of US emissions by 2025. Many now ask about the global consequences of US withdrawal from climate protection; will this be the end of the world’s quest for a low-carbon and climate resilient future?
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Enhancing the role of Multilateral Development Banks (MDBs) in sustainable global economic development has been an important issue for G20 leaders since their first meeting in 2008. For leaders, the primary purpose of revitalizing the MDBs was to counter the cyclical effects of the crisis. As the subprime crisis receded, the focus of leaders and the overall G20 agenda since 2010 has shifted towards growth, for which infrastructure financing has been highlighted as a key driver.
