Biden Aims to Turn World Bank Into a Climate Cash Machine

(John Hugh DeMastri, Daily Caller News Foundation) President Joe Biden intends to replace outgoing World Bank president David Malpass with a candidate willing to refocus the institution on climate change activism, a longtime goal of the administration, Axios reported Thursday, citing anonymous White House advisers.

Malpass — a Trump appointee and husband to Daily Caller News Foundation president Adele Malpass — on Wednesday announced his intention to step down from his post on June 30, more than eight months before his five-year term was set to end. 

For his replacement, the Biden administration is seeking a diverse candidate that will reshape the World Bank, from its current focus on poverty alleviation to an institution with a broader focus on climate change goals such as reduced emissions, Axios reported.

The details of Malpass’ departure had reportedly made their way to the Biden administration several weeks ago, with Treasury Secretary Janet Yellen’s statement regarding his decision coming just minutes after Malpass’ own announcement, Axios reported. Malpass has faced calls from environmentalists to resign since September, after he responded to a question about whether human burning of fossil fuels was a driver of dangerous global warming by claiming that he was not a scientist.

The Biden administration had previously considered taking steps to oust Malpass from his role at the U.N.-backed World Bank following his September comments, but decided against it, in part to ensure that the U.S. would retain its informal right to name the president of the body, Axios reported. Yellen last Thursday called for the World Bank to expand its scope beyond its current focus on poverty reduction and “take decisive action on global challenges like climate change, pandemics, and conflict and fragility.”

The White House did not immediately respond to a Daily Caller News Foundation request for comment.