Berliner Boersenzeitung - White House rebukes World Bank chief in climate row

EUR -
AED 4.021503
AFN 73.974597
ALL 98.722789
AMD 422.669128
ANG 1.970756
AOA 999.073261
ARS 1065.84545
AUD 1.62179
AWG 1.971313
AZN 1.865626
BAM 1.955657
BBD 2.207839
BDT 130.670456
BGN 1.955539
BHD 0.41227
BIF 3225.864382
BMD 1.09487
BND 1.428296
BOB 7.583446
BRL 6.144196
BSD 1.09352
BTN 91.900888
BWP 14.51194
BYN 3.578539
BYR 21459.452596
BZD 2.204139
CAD 1.507253
CDF 3151.036344
CHF 0.938544
CLF 0.03677
CLP 1018.515607
CNY 7.736575
CNH 7.74406
COP 4594.964383
CRC 564.858743
CUC 1.09487
CUP 29.014056
CVE 110.256947
CZK 25.320626
DJF 194.715778
DKK 7.468879
DOP 65.835191
DZD 145.736004
EGP 53.12012
ERN 16.42305
ETB 130.945336
FJD 2.431492
FKP 0.837761
GBP 0.837761
GEL 2.972616
GGP 0.837761
GHS 17.446726
GIP 0.837761
GMD 75.002813
GNF 9434.310915
GTQ 8.455382
GYD 228.77329
HKD 8.507035
HNL 27.199013
HRK 7.542593
HTG 144.069477
HUF 401.69729
IDR 17046.195734
ILS 4.116241
IMP 0.837761
INR 92.119463
IQD 1432.49537
IRR 46096.769633
ISK 149.614412
JEP 0.837761
JMD 173.117355
JOD 0.77572
JPY 163.305383
KES 141.049698
KGS 93.615547
KHR 4442.675506
KMF 492.148233
KPW 985.383411
KRW 1477.330449
KWD 0.335611
KYD 0.911233
KZT 529.441329
LAK 23977.248695
LBP 97920.747843
LKR 320.076622
LRD 211.044585
LSL 19.108004
LTL 3.232867
LVL 0.662276
LYD 5.234618
MAD 10.723017
MDL 19.29959
MGA 5024.632999
MKD 61.6055
MMK 3556.09515
MNT 3720.368742
MOP 8.752161
MRU 43.289838
MUR 50.477604
MVR 16.806669
MWK 1896.161504
MXN 21.106947
MYR 4.69426
MZN 69.966278
NAD 19.108004
NGN 1795.587226
NIO 40.237061
NOK 11.710296
NPR 147.04126
NZD 1.792225
OMR 0.421471
PAB 1.09352
PEN 4.073302
PGK 4.300686
PHP 62.659822
PKR 303.53693
PLN 4.294386
PYG 8534.376647
QAR 3.986609
RON 4.980021
RSD 117.185076
RUB 104.753149
RWF 1472.392456
SAR 4.111472
SBD 9.086684
SCR 14.892612
SDG 658.568348
SEK 11.361252
SGD 1.429029
SHP 0.837761
SLE 25.014827
SLL 22958.881115
SOS 624.954353
SRD 34.97727
STD 22661.599096
SVC 9.568301
SYP 2750.894202
SZL 19.101605
THB 36.289509
TJS 11.656449
TMT 3.842994
TND 3.366254
TOP 2.564299
TRY 37.569922
TTD 7.422458
TWD 35.231608
TZS 2979.682363
UAH 45.028211
UGX 4018.706473
USD 1.09487
UYU 45.72666
UZS 13961.980213
VEF 3966224.203526
VES 42.519585
VND 27174.674155
VUV 129.985201
WST 3.069587
XAF 655.909092
XAG 0.034703
XAU 0.000412
XCD 2.958941
XDR 0.813441
XOF 655.909092
XPF 119.331742
YER 274.10111
ZAR 19.146447
ZMK 9855.148044
ZMW 28.89489
ZWL 352.547703
  • BCC

    3.4200

    142.37

    +2.4%

  • NGG

    0.5600

    66.24

    +0.85%

  • AZN

    0.4800

    77.35

    +0.62%

  • BCE

    0.1600

    33.02

    +0.48%

  • SCS

    0.3100

    12.91

    +2.4%

  • BTI

    0.0700

    35.18

    +0.2%

  • GSK

    -0.3800

    38.83

    -0.98%

  • JRI

    0.0300

    13.25

    +0.23%

  • RIO

    0.3900

    67.23

    +0.58%

  • CMSC

    0.1200

    24.71

    +0.49%

  • CMSD

    0.1800

    24.95

    +0.72%

  • RYCEF

    0.0100

    7.01

    +0.14%

  • BP

    -0.2300

    32.11

    -0.72%

  • VOD

    -0.0900

    9.65

    -0.93%

  • RELX

    0.4700

    46.83

    +1%

  • RBGPF

    1.7400

    61.23

    +2.84%

White House rebukes World Bank chief in climate row
White House rebukes World Bank chief in climate row / Photo: Daniel LEAL - AFP/File

White House rebukes World Bank chief in climate row

The White House on Friday rebuked the head of the World Bank David Malpass, who is battling charges of climate denial for dodging questions on the role of man-made emissions in global warming.

Text size:

Under mounting fire, Malpass has rejected suggestions he might quit over the uproar -- and has moved to clarify his position several times in recent days.

"Look, it's clear that greenhouse gas emissions from human activity are adding to, are causing climate change," he told Politico Friday, affirming that none of the bank's member countries had asked him to leave and that he was "not resigning."

"The task for us, for the world, is to pull together the projects and the funding that actually has an impact," he said.

Malpass is a veteran of Republican US administrations and was tapped to lead the bank in 2019 by then-president Donald Trump, who famously and repeatedly denied the science behind climate change.

Climate activists have previously called for Malpass to be removed for what they say is an inadequate approach to the climate crisis -- but the chorus grew suddenly louder after his appearance at a New York Times-organized conference this week.

Asked on stage to respond to a claim by former US vice president Al Gore that he was a climate denier, Malpass declined multiple times to say whether he believed man-made emissions were warming the planet -- responding, "I'm not a scientist."

"We condemn the words of the president," Press Secretary Karine Jean-Pierre told a White House briefing in response to the incident.

"We expect the World Bank to be a global leader" on the climate crisis response, she said, adding that the US Treasury Department "has and will continue to make that expectation clear to the World Bank leadership."

Malpass has been seeking to course-correct since the row erupted earlier this week, and in an interview with CNN on Thursday he clearly acknowledged that climate-warming emissions were "coming from manmade sources, including fossil fuels, methane, agricultural uses and industrial uses."

"I'm not a denier," he told the network, saying his message had been "tangled" and he was "not always good at conveying" what he means.

But the uproar shows little sign of dying down, with the Union of Concerned Scientists the latest group to call for him to be "replaced immediately."

Pressed on whether President Joe Biden still has confidence in Malpass and media reports that some US officials are seeking his removal, Jean-Pierre said: "Removing him requires a majority of shareholders, so that's something to keep in mind."

"The US believes the World Bank must be a full partner in delivering on the aggressive climate agenda, poverty reduction and sustainability development. Again, Treasury will hold Malpass accountable to this position and support the many staff working to fight climate change."

- 'I am worried' -

Malpass's initial nomination faced intense criticism but since taking the role he has been a staunch supporter of aid and debt relief for the poorest nations, in addition to consistently noting the dangers from climate change.

In a speech in June where he warned about the overlapping crises facing the global community amid soaring inflation and debt distress, he emphasized the need to "effectively address climate change."

"It requires massive investments in cleaner energy, energy efficiency, and electricity grids and transmission. Gas flaring, methane leakage, and the operation of antiquated coal-fired power plants, with severe health and environmental impacts, continue with little abatement," he said.

Even so, critics of the lending institution have grown increasingly loud.

"I am worried right now about the World Bank," the Nobel Prize-winning economist Joseph Stiglitz told AFP earlier this week.

"Unfortunately the World Bank has not taken the kind of global leadership that the world needs right now" on climate and other critical issues, said Stiglitz, himself a former chief economist of the institution.

The head of the World Bank is traditionally an American, while the leader of the other big international lender in Washington, the IMF, tends to be European.

Malpass is not the first leader of one of those institutions to come under fire for personal or professional behavior.

His predecessor Jim Yong Kim faced controversy over reforms and management of the Bank and then left early to join the private sector, while current IMF chief Kristalina Georgieva fell into hot water over changes made to data in a now discontinued World Bank report that painted China in a more positive light.

(O.Joost--BBZ)