Jim Yong Kim, the president of the World Bank, is stepping down after more than six years in the role. His departure follows a controversial stance on climate change that has been criticized by environmental activists. Kim announced his resignation on Monday, citing a desire to pursue new opportunities in the private sector. He will remain in his position until February 1, 2019. The announcement comes after a series of public clashes between Kim and environmental activists over the World Bank's approach to climate change. In 2017, Kim rejected calls to stop lending to fossil fuel projects, arguing that the World Bank needed to remain "agnostic" to all energy sources. The decision was widely criticized by environmental groups, who argued that the World Bank should be taking a more proactive role in fighting climate change. Kim's stance was seen as a sign of the Bank's reluctance to prioritize environmental issues. Kim has also been criticized for his handling of the Bank's anti-corruption efforts. An internal audit in 2017 found that the Bank had failed to adequately investigate allegations of corruption in some of its projects. Kim's successor has yet to be named, but the Bank is expected to announce a new president in the coming weeks. The new president will be tasked with addressing the World Bank's climate change policies and anti-corruption efforts.