If climate change is one of the most pressing problems our planet faces — and it is — then it should be a, if not the, top priority for institutions of global governance.
After all, they are designed to tackle precisely those challenges, to provide “public goods” — those that benefit all citizens and, therefore, no one wants to pay for.
By this logic, the World Bank has a problem. Bank President David Malpass repeatedly demurred last year when asked if he believes in human-made global warming. Although he walked back the comment and claimed he was misquoted, the damage was done. The world’s leading development bank had a credibility problem and efforts to remove the tarnish only made things worse.