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The World Bank Group’s decision to extend its Climate Change Action Plan indefinitely is the right one. Here’s why. Climate change is reshaping lives across the globe. Earlier this month, parts of France and the United Kingdom experienced record-breaking temperatures. In Brazil, devastating floods in Rio Grande do Sul in 2024 submerged communities and displaced thousands. In Indonesia, rising seas and worsening coastal flooding are reshaping urban planning.
Last October, at the Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund in Marrakesh, member countries emphasised the urgency of scaling up development finance. In recent years, an extraordinary confluence of health, climate, and security crises has worsened global inequalities and eroded the economic and social gains of the last few decades, especially in many African countries.
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