With COP31 scheduled to begin soon in Antalya, Türkiye, the independent evaluation arms of the International Monetary Fund and the World Bank will jointly present findings on their climate-related financing and policy efforts.
Climate-vulnerable nations have increasingly turned to the World Bank to fund adaptation, resilience, and mitigation projects. According to data released ahead of the Antalya meetings, the bank’s climate-related finance reached roughly $48 billion in fiscal year 2026, marking a near-doubling of the figure from five years prior. Meanwhile, the IMF has broadened its focus to include the fiscal and financial effects of climate change, establishing the Resilience and Sustainability Trust.
Assessing Bretton Woods Climate Support
- World Bank climate-related finance reached approximately $48 billion in FY26, nearly doubling its volume from five years ago as vulnerable countries seek adaptation and mitigation funding.
- The IMF established the Resilience and Sustainability Trust to address the fiscal and financial impacts of climate change.
- For the first time, the Independent Evaluation Office of the IMF and the Independent Evaluation Group of the World Bank will present joint findings on what has delivered results and what hasn’t.
Joint Evaluation and Antalya Presentations
As policymakers prepare for COP31, questions persist regarding whether the scale of financing matches the systemic risks facing developing economies. The upcoming joint presentation marks the first time both institutions’ independent evaluation arms will jointly present evidence. Miguel de Las Casas, Advisor – Evaluation Lead at the IMF IEO, and Lauren Kelly, Lead Evaluation Officer, Planet Unit at the World Bank IEG, are slated to present the findings.
Interesting, @jackclarkSF (cofounder of Anthropic) covered TheoPhysEval in the latest IMF and World Bank Annual meetings. He read Suvrat Raju's quote about Astra correcting the experts on the evaluation. Link: https://t.co/sUdXBuKfXT https://t.co/RmmANJueMp pic.twitter.com/cFgM7n5bHl
While the World Bank scales up climate finance, the IMF integrates climate metrics into its surveillance and lending frameworks through vehicles such as the Resilience and Sustainability Trust, with insights discussed by officials including Pablo Moreno, Director of the IMF IEO.
| Institution | Evaluation Body | Primary Climate Mechanism | Recent Financial Metric |
|---|---|---|---|
| World Bank | Independent Evaluation Group (IEG) | Adaptation, resilience, and mitigation investments | ~$48 billion in FY26 |
| IMF | Independent Evaluation Office (IEO) | Resilience and Sustainability Trust (RST) | Expanded fiscal and financial surveillance |
Expert Analysis and Future Directions
Following the presentation by evaluation leadership, an expert panel will analyze what the evidence implies for the future trajectory of multilateral climate support. The discussion features Sabine Bernabè, Vice President and Director General of the World Bank IEG; Pablo Moreno of the IMF IEO; Julie Rozenberg, Chief Economist at the World Resources Institute; and Bella Tonkonogy, Senior Director at the Climate Policy Initiative. Nancy Lee, Senior Fellow and Director for Sustainable Development Finance at the CGD, will moderate the session, which is produced in collaboration with Evidence for Climate Action.
