World Bank’s climate work can endure without finance target, experts say

The World Bank has scrapped its headline climate finance target under pressure from the Trump administration, but experts believe the survival of its wider climate programme should preserve support for clean energy and resilience in developing nations. Following tense negotiations between its government shareholders, the global lender announced this week it would extend its Climate Change Action Plan (CCAP) while “retiring” its commitment to direct 45% of its financing to projects with climate benefits – a target it has already met. “It could have been a lot worse,” said Danny Scull, a senior policy advisor at think-tank E3G. “I would have loved to see the most ambitious outcome possible, but it is far less likely we’ll see a scenario where the bank all of a sudden reverses its current trajectory and starts delivering less on climate,” he added. Jun 26, 2026 Comment Climate adaptation in Africa needs investment, not imported solutions Across Africa, communities have implemented vital climate adaptation measures – but these need investment to scale Read more Jun 30, 2026 Comment With extreme heat now a public health crisis, local data can save lives The impacts of extreme heat vary widely across countries and cities, and approaches tailored using data can target solutions at vulnerable groups Read more Introduced in 2021, the CCAP has been credited with overhauling the World Bank’s approach to climate finance after years of criticism over the development finance institution’s lukewarm support for cutting planet-heating emissions and building resilience to extreme weather and rising seas. Since the CCAP began, the World Bank’s climate finance nearly doubled to $39.2 billion in 2025, with 48% of its financing showing climate “co-benefits” and exceeding the target first set at COP28. US attack partially rebuffed With the CCAP due to lapse at the end of June, the US – the World Bank’s largest shareholder – mounted a campaig