World Bank Revises Climate Financing Strategy

On 29th June 2026, the World Bank Group (WBG) announced that it would discontinue its climate finance target, marking a shift from input-based funding targets to outcome-based development financing.

Key Highlights

  • The World Bank will retire its 45% climate co-benefits target.
  • It will also discontinue the 35% financing target under the Climate Change Action Plan (CCAP).
  • The Bank will shift from input-based targets to outcome-based development results.
  • Climate projects will continue based on client country demand.

Why the Change?

  • US Opposition: The United States opposed mandatory climate financing targets.
  • Core Mission: The US urged the Bank to prioritise poverty reduction and economic growth.
  • Efficiency: The ....
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Ecology & Environment