The World Bank has softened its once-vocal cheerleading for climate action as the Trump administration evaluates its support for international organizations and works to cut funding for climate programs.
As head of the largest public development financier, World Bank President Ajay Banga has been emphasizing jobs and Republican-friendly energy sources like nuclear power and natural gas. He’s also defended its climate work when asked, saying recently that the bank’s climate investments don’t interfere with its core mission of poverty reduction. But that messaging signals a break with Banga’s robust public defense of the bank’s climate record under President Joe Biden, who nominated Banga in part to bolster green lending.
Former officials and at least five people familiar with the thinking inside the institution, some of whom were granted anonymity to speak candidly, said the bank is downplaying its messaging of climate work out of self-preservation even as its underlying climate policy has not changed.
“Now, do you want to scream this all loudly? Probably not in this environment. You don’t get much from doing that,” said Samir Suleymanov, a former World Bank official who directed its strategic initiatives unit.
