BIC welcomes the announcement that the World Bank is indefinitely extending its Climate Change Action Plan (CCAP) as affirmation that addressing the climate crisis remains a critical institutional priority. The CCAP lays out the Bank’s goals and strategies for climate mitigation across sectors, providing a structure for assessing the Bank’s progress related to international frameworks such as the United Nations Framework Convention on Climate Change. Still, the success of the CCAP relies on robust on-the-ground implementation; the Bank’s climate work is most effective when implementation can demonstrate positive outcomes for communities meant to benefit from ambitious climate projects, including the most marginalized.
By renewing the CCAP the Bank has responded to demands from civil society and communities on the front lines of climate-induced disasters. However, a number of concerns remain, including the removal of the 45 percent climate co-benefit target and 35 percent climate finance target. Given the shift toward outcomes and Corporate Scorecard indicators, it is essential that the Bank:
- disclose baselines for reported data;
- include all public sector lending instruments; and
- promote robust on-the-ground stakeholder engagement and data verification.
Addressing the cross-cutting challenges of climate change requires bold ambition coupled with a focus on those most vulnerable to the negative effects of climate change. We welcome the plans for an IEG evaluation announced by the Board, as we believe this can help the Bank learn lessons from the implementation of the previous CCAP to shape future climate work. The Bank should provide more clarity on the upcoming evaluation of the CCAP and proactively engage with civil society throughout this process. BIC will continue to monitor the Bank’s process.
Read our full comments and recommendations for the CCAP here.
