World Bank Scraps Climate Financing Targets After US Criticism

Bloomberg · last updated June 29, 2026 – 4:14 PM

The World Bank decided to remove quantitative targets for incorporating climate objectives into its financing, months after criticism from the US — its biggest shareholder — that it should get back to focusing on economic development.

The World Bank Group will still work to support borrowers “in delivering on their own ambitions as set out in their national plans” for climate objectives, it said in a statement Monday.

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