Home ›› 17 Feb 2023 ›› World Biz
World Bank chief David Malpass announced Wednesday he would step down nearly a year early, ending a tenure at the head of the development lender that was clouded by questions over his climate stance.
The veteran of Republican administrations in the United States was appointed to the role in 2019 when Donald Trump was president and previously served as Under Secretary of the Treasury for international affairs.
His tenure at the World Bank saw the organization grapple with global crises such as the Covid-19 pandemic, the Russian invasion of Ukraine and an international economic slowdown.
“After a good deal of thought, I’ve decided to pursue new challenges,” the 66-year-old was quoted as saying in a statement from the bank, having informed its board of his decision.
“This is an opportunity for a smooth leadership transition as the Bank Group works to meet increasing global challenges,” Malpass added. In recent months, Malpass has come up against calls for his resignation or removal.
Climate activists had called for Malpass to be ousted for what they said was an inadequate approach to the climate crisis and the chorus grew louder after his appearance at a New York Times-organized conference last September.
Pressed on stage to respond to a claim by former US vice president Al Gore that he was a climate denier, Malpass declined several times to say if he believed man-made emissions were warming the planet -- responding, “I’m not a scientist.”
He later said he had no plans to stand down and moved to clarify his position, acknowledging that climate-warming emissions were coming from man-made sources, including fossil fuels.
