Financial TimesFinancial Times

Global climate leaders push for overhaul of IMF and World Bank

By Aime Williams

24 Sep 2022 · 3 min read

Editor's Note

Global financial architecture dating back the second world war is facing scrutiny, as climate and world leaders argue it is not fit for current climate demands. The FT provides an overview.

A rebellion against the status quo of the global financial architecture dating to the second world war gathered momentum in New York this week as developing world and climate leaders demanded action to help to them deal with climate change.

In closed-door meetings on the sidelines of the UN General Assembly, and so-called climate week discussions alongside, wealthy countries were confronted by increasingly urgent questions about who pays for the catastrophic impact of hurricanes, floods and wildfires.

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