World Bank to abandon goal to devote 45% of lending resources to climate change projects
The lender will keep tracking climate results and extend its action plan after 48% of 2025 financing had climate co-benefits, official data showed.
- On Monday, The World Bank Group announced it will "retire" its goal to devote 45 per cent of annual lending to climate projects, while extending its Climate Change Action Plan beyond its June 30 expiration.
- The development lender faced pressure from the Trump administration to abandon climate targets adopted during the Biden administration in 2023, prompting a shift toward lending outcomes rather than input goals.
- World Bank President Ajay Banga shifted focus to "smart development," aimed at boosting job opportunities while providing climate benefits, while the lender dropped its previous 35 per cent climate lending target.
- French development minister Eleonore Caroit issued an eleventh-hour plea last week to keep targets intact, yet the United States, Russia, Kuwait, and Saudi Arabia declined to sign a letter from France and 18 other countries endorsing continued climate work.
- Management will continue tracking climate scorecard indicators on net global greenhouse gas emissions under the CCAP, and the bank plans to "explore and discuss ways to better structure our engagement on adaptation, nature and pollution.
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37 Articles
The World Bank's climate plan came to an end on Tuesday, June 30, 2026. This five-year programme allowed up to 48% of its funding to be allocated to climate-friendly projects. Ajay Banga, the president of the institution, had made it a priority. But the United States, the world's leading shareholder, has been very active in reshaping this plan. Finally, the World Bank announced an update of its strategy. It indefinitely extends the climate plan …
World Bank to end lending to China by 2031
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