France's Plea to Preserve World Bank Climate Finance Amid US Pressure

France's development minister urged the World Bank to maintain its climate finance target against U.S. pressure to abandon it. The U.S. seeks a shift to core development and fossil fuel projects, challenging the Climate Change Action Plan. Eleonore Caroit emphasized the importance of climate finance amid global warming concerns.

France's development minister issued a last-minute call to the World Bank on Thursday, urging it to resist pressure from its largest shareholder, the United States. The plea focused on maintaining a climate finance target due to expire at month's end.

The Trump administration has requested the World Bank abandon its goal of allocating 45% of its annual lending to climate projects, urging a pivot to core development, including fossil fuel investments. France's minister, Eleonore Caroit, emphasized the need to keep climate finance ambitious, despite differing shareholder views, especially from the current U.S. administration.

Caroit, after facing travel delays due to European heatwaves, reiterated France's commitment to climate finance advocacy, stressing the need to align the World Bank's actions with pressing global environmental challenges. She highlighted ongoing opposition from the U.S. and the impact of climate-related disasters requiring a unified global approach.