The World Bank has announced plans to fight climate change through a new Climate Change Action Plan that it hopes will see investment in environmental projects reach $29 billion a year by 2020.
In a statement on Thursday, the Bank said that, in the next five years, it planned to help countries in the developing world add 30 gigawatts of renewable energy to global energy capacity; provide "early warning systems" to 100 million people; and develop "climate-smart agriculture investment plans for at least 40 countries."
The news comes in the wake of the historic COP21 agreement reached in Paris at the end of 2015. There, 195 countries agreed to make sure global warming stayed "well below" 2 degrees Celsius and to "pursue efforts" to limit the temperature rise to 1.5 degrees Celsius.
The Bank said its announcement came a fortnight before the world's leaders meet in New York to sign the Paris Agreement.
"Following the Paris climate agreement, we must now take bold action to protect our planet for future generations," Jim Yong Kim, World Bank Group President, said in a statement on Thursday.