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World Bank calls for new push to combat economic pollution

One of the World Bank senior managing directors said that using natural resources more effectively could reduce pollution by half.

Axel van Trotsenburg stated that the damage is especially severe for countries with low incomes, which are most threatened by poverty, climate changes and biodiversity loss.

He said that 80% of the people living in low-income countries were affected by all three, and the World Bank would continue to respond to these issues even though many countries are cutting their aid budgets.

"Our commitment...is ending poverty on a planet that is livable, period. Van Trotsenburg stated that they would not waver in their commitment.

Burundi is one of the countries most affected, with 8 million people facing water and air pollution and 7 millions facing land degradation. The report stated that 12 million Malawians face all three threats.

The report urges countries to redirect subsidies that are currently being spent on harmful activities.

The report was published in a fractious and polarized political environment ahead of the COP30 climate conference taking place in Brazil this November. The World Bank, as well as other multilateral lenders, are also waiting for the results of an American review of their operations that was ordered by President Donald Trump back in February.

Van Trotsenburg stated that the World Bank would use data to support discussions about environmental degradation between its member countries.

The report estimates that forests are responsible for around half of all rain clouds in the world. Deforestation, it said, reduces rainfall by $14 billion per year just for the nine countries of the Amazon region. This is a huge blow to the nations affected.

Landscapes will also be less able to slowly store and release water over time. This amplifies droughts, resulting in a loss of $379 billion or 8% of the global agricultural output.

The report focused on the economic impact of ecological threats, which are often perceived as distant.

We've always believed that countries should grow first and then clean up their mess later. Richard Damania, the Bank's Chief Economist for Sustainable Development and co-author of the report, stated that this is false. (Editing by Ros Russel)

(source: Reuters)