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United Nations climate science experts have said time is running out to invest in the changes needed to limit warming to 1.5 degrees Celsius above preindustrial temperatures. The world is far off track, risking enormous costs for nature, human societies, and the global economy. Financial institutions have started to take action. Experts say developing nations are struggling to find the funds needed to stop burning planet-heating fossil fuels and prepare for tomorrow's climate disasters, as they grapple with rising costs, soaring debts and extreme weather events. The IMF has created a new loan-based Resilience and Sustainability Trust to help poorer or vulnerable countries boost sustainable growth. Barbados was the first recipient. The World Bank says it delivered a record $31.7 billion last year to help countries tackle climate change and has started to draft a roadmap for change.
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