The World Bank has abandoned its target of directing 45 percent of its financing to projects that help tackle climate change, prompting warnings that poorer countries – especially in Africa – could receive…

The World Bank on Monday extended its climate change policy framework indefinitely, but dropped its targets for the percentage of financing that must have climate-related impacts,…

The World Bank removed its 45% climate lending target after US Treasury Secretary Scott Bessent called the goals 'distortionary,' signaling a major shift in