The World Bank and IMF are retreating from climate action under US pressure, risking deeper vulnerability as climate shocks intensify.
The multilateral lender, which issued its first adaptation bond in 2023, will also update its sustainable development bond framework this year.
The World Bank’s work to tackle climate change is under threat as the Trump administration pushes the lender to ditch its green targets and step up support for fossil fuel infrastructure in the developing world.
Jamaica’s catastrophe bond faces a real-world test after Hurricane Melissa, Lagarde urges faster action on green energy and more in this week’s news roundup.
The IMF is still committed to its green efforts even as the US is pressuring it and the World Bank to drop their climate work. …
Loans made by the World Bank Group have failed to uphold climate rules it has set out, even as the bank commits to aligning all financing with the Paris Agreement. …
African summit sees billions pledged to bring electricity to 300 million people and expand green energy infrastructure, but does the project risk locking in fossil fuels as well? …
BaFin says EU should streamline green disclosures, World Bank issues Amazonian reforestation bond, IASB clarifies its standards, all this and more in this week’s roundup. …
Ajay Banga became World Bank president over a year ago with promises to focus on climate, but some critics say it has been mostly talk and very little action.
As the IMF and World Bank spring meetings begin, calls are growing for developing country debt to be restructured to help deliver climate goals.
A new research centre to assist with transition policies, Azerbaijan moves on green taxonomy, EU banks must include climate in capital adequacy, and more in this week’s roundup.
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