October 10, 2025

The global climate battle just got spicier at the World Bank! Nineteen out of 25 executive directors of the World Bank joined forces this week to support the bank’s fight against climate change. What makes this stand out? The United States, the bank’s biggest boss, plus Russia, Kuwait, and Saudi Arabia, refused to sign this powerful joint statement. Japan and India played cooler by abstaining, likely because they are close to striking trade deals with the US. These directors represent a whopping 120 countries demanding the World Bank stick to its green guns. The statement insists that 45% of the bank's yearly funding should go to projects fighting climate change. This fiery declaration came right after a big board meeting, sending a strong message that the bank can't waver on its climate promises. This showdown highlights a sharp global split. While most countries want the bank to lead on climate issues, the US and a few allies resist. The timing is sizzling too, coming just before the World Bank and IMF's big annual meetings in Washington – where the US wields heavy influence. The European Union is not holding back either, promising to push these global banks to supercharge climate efforts. This contrasts with the US Treasury Secretary Scott Bessent’s call in April to pull back from what he called “too much” focus on climate. Since Donald Trump became President, the World Bank and IMF chiefs have gone mum on climate change. Trump himself called climate change a "con job" just last month and pulled the US out of the Paris climate accord, which this new statement firmly backs. The directors' declaration also calls for the bank's climate actions to stay aligned with the Paris Agreement and to keep climate change central in all its core work. They wrote, "We reaffirm our support for the World Bank Group's leadership role across the (International Financial Institutions) on climate and nature action, advocating for and supporting countries' demand for low carbon, climate resilient, and nature positive pathways." The letter urges extra focus on helping workers when countries shift away from coal energy, calling the change "complex but essential for energy transition." It also pushes for more work on long-term climate plans and carbon markets. What's more, the signatories highlighted big demands from client countries not yet covered, like fighting pollution, protecting nature, and boosting efforts for climate adaptation and resilience. As the world braces for crucial meetings, this climate clash at the World Bank shows how the fight to save our planet is far from over – and full of thrilling twists!

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Tags: World bank, Climate change, Donald trump, Paris agreement, Climate finance, International politics,