The idea that philanthropy, that any single individual, has enough money to affect something at a global scale is a very new phenomenon. [Most billionaires have] accumulated their wealth because the world economy is now globalized, but to sustain a globalized world economy we need to have more inclusive growth.
To date there has been very little impact measurement [of the $100 billion climate finance pledge]. It is a very important issue. People look at impact in terms of the composition of finance, things that relate to the financing side. But in terms of real impact of climate finance, and efficacy across different donors, there has been no development impact or climate impact study done to date.
The IMF and the World Bank early on understood that the crisis and the economic recession … would be very broad and very deep . . . [Their push on the G20 to suspend debt payments for dozens of low-income countries] was the first major step in ensuring that the pandemic didn’t trigger a debt crisis that could have longer term consequences.