The adequate mobilization of climate finance remains one of the greatest challenges of our time. Under the United Nations (UN) climate agreements, rich countries have pledged to support the global South in the fight against climate change and the associated human rights violations through financial transfers. However, the repeated failure to meet the corresponding target of providing US$ 100 billion per year has led to diplomatic tensions and is one of the main reasons for the lack of success in the fight against climate change.
The debate on how additional funds can be mobilized – including [...]
National and regional go-it-alone efforts characterized government action against the COVID-19 pandemic. The guidance of the World Health Organization (WHO), as the overarching and coordinating health body, to ensure equitable and efficient distribution of vaccines and other necessary medical products to contain the pandemic was not heeded. Several governments, philanthropic foundations, and the WHO launched the global multi-stakeholder initiative (MSI) Access to COVID-19 Tools Accelerator (ACT-A) at short notice, with participation of pharmaceutical industry and other MSIs, as a key global [...]
The World Bank is considered to be the most important multilateral development bank (MDB). Since it was founded in 1944 at the United Nations Monetary and Financial Conference to finance the reconstruction of war-torn Europe, it has reinvented itself several times. The most significant change was the transformation from a reconstruction bank to a development bank. Today, the World Bank finances exclusively in countries of the global South, while continuing to be controlled by the economic powers of the global North.
A new process for World Bank reform has been underway since 2021. This began [...]