The Strategy also encompasses the Multilateral Investment Guarantee Agency (MIGA) – the arm of the World Bank Group that promotes responsible foreign direct investment into developing countries by offering political risk insurance to the private sector.
“MIGA is pleased to have contributed to this strategy and to advance the notion that the private sector is absolutely crucial to affect change with respect to environmental issues,” said Michel Wormser, MIGA’s Vice President and COO.
To measure and monitor progress the Environment Strategy includes a results framework to track progress over time. The new Strategy also advances work to assess greenhouse gas emissions from the Bank Group’s portfolio of development projects with pilots being undertaken in a number of World Bank energy, transport and forestry sector projects.
Source: The World Bank.
