Update on the World Bank Group Climate Change Action Plan

The WBG’s work on climate is and will remain firmly client driven, supporting them in delivering on their own ambitions as set out in their national plans and Nationally Determined Contributions (NDCs). Our framework has served its purpose well, embedding smart development in all we do in response to client needs and priorities. We will therefore extend the Climate Change Action Plan (CCAP). In response to the Board’s request, Independent Evaluation Group (IEG) will perform an evaluation of the CCAP. In line with our work on the scorecard, we will complete our shift from inputs to outcomes to maximize development impact. We will retire the 45% climate co-benefits target and the 35% target in the CCAP. We have done significant work in answering client demand and needs. Further progress on outcomes will continue to be driven by client ambition and enabled by the work of the Knowledge Bank, consistent with countries’ international commitments. We will continue to track and report on our two scorecard indicators on (i) net greenhouse gas (GHG) emissions and (ii) beneficiaries with enhanced resilience to climate risks. The WBG will continue its work to strengthen its outcome measurement methodology and keep engaging with other Multilateral Development Banks (MDBs). We will continue to report to the Board on progress, including on climate co-benefits, and to contribute to our related joint MDB efforts. Reporting will apply, as is the case today, for all projects, as well as quarterly and annually for the portfolio, through existing channels. We will explore and discuss ways to better structure our engagement on adaptation, nature and pollution.