![]() ![]() But while such efforts are well meaning and consistent with the spirit of multilateralism, they inevitably will delay concrete action. It is earnestly weighing its options and considering how it could coordinate climate-related financing across borders. Having committed to assisting developing economies as they confront climate change, the World Bank finds itself limited by the country-based model underlying its financing operations. And, given the current geopolitical climate and the increasing fragmentation of the global economy, there is little hope that the message will get through anytime soon. ![]() But, as with carbon taxes, this argument has fallen on deaf ears. Commentators have also stressed that climate change is a shared problem involving important cross-border externalities that must be addressed through a multilateral approach to global coordination. ![]()
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