This document presents an overview of the World Bank Group’s climate financing activities in Fiscal Year 2024. It breaks down investments by region, practice area, and individual projects. It serves as a summary of the World Bank’s commitments to addressing climate change through its lending portfolio.
Key Insights
Historical Trends: IBRD & IDA Climate Finance
Climate finance from IBRD & IDA has generally increased from FY19 to FY24. In FY24, actual climate co-benefits in dollar amounts from IBRD/IDA rose from 31.0 billion in FY 2024.
IBRD & IDA Climate Finance by Region
Climate finance is distributed across various regions, with Africa East receiving 21% and Latin America & the Caribbean receiving 15%.
Climate Finance as Percentage of Regional Lending
Percentage of regional lending used for climate finance. Examples: Africa East = 54%, South Asia = 43%
IBRD & IDA Climate Finance by Practice Area
Climate Finance broken down by practice area. For Adaptation finance (USM), Energy and Extractives = 5024.
Key Statistics & Data
- In FY24, 44% of World Bank Group financing had climate co-benefits, compared to 41% in FY23.
- IBRD/IDA climate co-benefits rose from 31.0 billion in FY24.
- Regional Distribution of climate finance (examples):
- Africa East: 21%
- Latin America and the Caribbean: 15%
- Climate Finance as Percentage of Regional Lending (examples):
- Africa East: 54%
- South Asia: 43%
Implications and Conclusions
The document indicates the World Bank Group is increasing its focus on climate finance across its portfolio. This trend suggests a growing commitment to integrating climate considerations into development projects. The breakdown by region and practice area highlights where these investments are being prioritized. The increased funds going into climate related initiatives also suggest the importance of adapting to climate change.
Key Points
- In FY24, 44% of the World Bank Group's financing had climate co-benefits, up from 41% in FY23.
- IBRD/IDA climate co-benefits increased from $29.4 billion in FY23 to $31.0 billion in FY24.
- Adaptation and mitigation finance are key components of the World Bank's climate finance strategy.
- Climate finance is distributed across various regions, with Africa East receiving 21% and Latin America & the Caribbean receiving 15%.
- The report details climate finance by practice area, including agriculture, digital development, and urban resilience.
- Data on climate finance as a percentage of regional lending shows variance across regions, with Africa East having 54% and South Asia 43%.
- The document provides a detailed project-level breakdown of climate finance, including project names, regions, countries, and amounts.