• Green banner with light green swirls

    World Bank Development Finance with Climate Co-Benefits

    Projects that have climate co-benefits are smart development, contributing to long-term economic opportunities. At the World Bank Group, we are measuring the impact of development finance – from the money that goes in at the start of a project – to the results and outcomes achieved.

Select a EDS Sub navigation page selecting option, leaving this page

Enhancing Development Finance Transparency

We are supporting efforts to end poverty on a livable planet, investing in stronger economies, energy access, and more resilient communities. In fiscal year 2024—which covers July 1, 2023 to June 30, 2024—the World Bank Group delivered a record $42.6 billion in climate finance.

In 2024, we partnered with other Multilateral Development Banks (MDBs) to launch a common approach for measuring climate outcomes in a more systematic way. This approach pivots from mostly measuring the volume of our climate finance (or climate co-benefits) to also measuring the results of our financing. 

We are now enhancing our transparency measures further, in two key areas:

  • First, in addition to the current practice of disclosing data on the climate co-benefits of our development finance (mitigation and adaptation) for each project, the World Bank will be disclosing sub-project level data. This enhanced transparency measure is effective from April 1, 2025.
  • Second, the World Bank will also disclose data on the climate co-benefits of our development finance after the project completion, which could facilitate comparison between committed and financed amounts. This enhanced transparency measure will be effective for projects that close on July 1, 2025 and beyond. 

Enhanced resilience includes access to climate-resilient infrastructure, food, and water, enhanced climate disaster response, and support to livelihoods, education, financial mechanisms, and safety nets. Source: The World Bank Group Scorecard

What Does "Climate Co-Benefits" of Development Finance Mean?

It means ensuring that the money used to fund development projects supports adaptation or mitigation. It is about smart development.

Adaptation means building resilience to the types of shocks that upend lives and livelihoods, and helping countries and people be better prepared for extreme weather events.

It is about supporting countries with development investments that last, and don’t just get destroyed in the next disaster.  

Mitigation cuts emissions: investing in areas such as reliable, affordable, and sustainable power, better transit systems, and resource-efficient agricultural production. 

Learn More

When the World Bank approves a project, we systematically assess whether its activities will help reduce greenhouse gas emissions and/or directly address climate vulnerabilities. We follow a strict methodology, shared by all Multilateral Development Banks, to calculate the portion of funds that counts as development finance with climate co-benefits.

The World Bank has released a statement on false claims that between $24 and $41 billion in World Bank development finance were somehow unaccounted for.

Despite some claims, $41 billion in climate funds did not go missing in the World Bank. Any claims of missing or unaccounted money are simply false. The Bank accounts for every dollar budgeted across all its operations, and all its lending benefits from strict oversight. Bank financials are independently audited annually and are available publicly.

Additional Resources: The World Bank Group’s Statement on Misinformation about Missing $41 Billion for Climate Financing

Explore More