Climate Change Fund Doubled to $200 Billion

Published on December 11, 2018

The World Bank recently announced that it will be doubling its investments towards combating climate change, to approximately $200 billion from 2021 to 2025.

This means that the World Bank is now giving equal investments towards lowering carbon emissions and helping vulnerable countries deal with the effects of climate change, as a large part of the new investment is going towards bolstering developing nations’ adaptability.

Climate funding in developing nations has previously only had a quarter of it going towards helping the population adapt to climate change, with the majority of the funding being put towards helping the countries embrace clean energy sources and efficient energy use.

Kristalina Georgieva, CEO of World Bank, said that causes of climate change must be fought, but that we must also adapt to the consequences of climate change, which are often most dramatic for the poorest people in the world.

Antonio Guterres, the UN Secretary, said that climate change is already a matter of life and death for many people, regions and countries.

“Climate change is running faster than we are, and we must catch up sooner rather than later - before it is too late,” said Guterres.

Georgieva says that the World Bank plans on making $50 billion available for climate change adaptation measures from 2020 to 2025, such as: helping farmers prepare for shifts in climate, building sturdier homes, schools, and infrastructure, helping water be managed wisely, and keeping people’s incomes safe through the use of social safety nets.

The money is also earmarked towards improving weather forecasts and early warning services for approximately 250 million people in 30 developing nations.

Lowering Home Carbon Emissions to Combat Climate Change

For homeowners who are concerned with the effects of climate change, or those who are simply looking to do their part in lowering greenhouse gas emissions while also saving money on utilities, looking into energy efficiency improvements is a fantastic place to start.

By contacting BSG and setting up an appointment for a Home Energy Assessment, you can be made aware of how efficient your home truly is, and our Registered Energy Advisors are able to present you with a list of suggestions for improving efficiency that are specific to your home and ranked in order of cost-effectiveness.

It is very common for a home to be able to improve its energy efficiency through simple and affordable modifications or retrofits, such as finding leaky areas and sealing them with caulk, or improving the energy retention of a home through attic insulation improvements. But with a Home Energy Assessment, you can be sure which energy saving solution would be the best fit for your home and for your needs. You can also see the expected energy savings of each suggestion, and how long you should expect to wait to see a return on your investment.

To make it even easier to see a return on your efficiency-improving investments, a Home Energy Assessment can also help Ontario homeowners qualify for up to $5,000 of rebates for home renovation that are currently available to both Enbridge and Union Gas customers.