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World Bank to abandon goal to devote 45% of lending resources to climate change projects
https://www.reuters.com/sustainability/cop/world-bank-abandon-goal-devote-45-lending-resources-climate-change-projects-2026-06-29/By David Lawder
June 29, 2026 6:35 PM EDT
Summary
The development lender, which had been under pressure from the Trump administration to abandon the climate lending target adopted during the Biden administration in 2023, said in a statement it would complete a shift to focusing on lending outcomes rather than input goals.
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The bank's previous target of devoting 35% of lending resources to climate-related projects also was dropped, but bank officials have said that demand for projects with climate co-benefits remains strong from client countries.
…
June 29, 2026 6:35 PM EDT
Summary
- World Bank drops climate lending target under pressure from Trump administration
- Climate Change Action Plan extended but under review
- Demand for climate-related projects remains strong, bank officials say
The development lender, which had been under pressure from the Trump administration to abandon the climate lending target adopted during the Biden administration in 2023, said in a statement it would complete a shift to focusing on lending outcomes rather than input goals.
…
The bank's previous target of devoting 35% of lending resources to climate-related projects also was dropped, but bank officials have said that demand for projects with climate co-benefits remains strong from client countries.
…
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