World Bank Evolution Roadmap an Expansion of Business as Usual – True Transformation Needed

The document argues that the World Bank Group's (WBG) proposed evolution is an 'expansion of business as usual' that fails to address systemic harms. The signatories demand an end to fossil fuel and industrial animal agriculture financing, a shift away from 'de-risking' private capital, and a democratization of governance to better serve the Global South. They specifically criticize the lack of focus on biodiversity loss, the continued use of the ICSID tribunal to protect corporate profits over climate action, and the Bank's failure to participate meaningfully in sovereign debt relief for climate-vulnerable countries.

• The WBG Evolution Roadmap is criticized for failing to define 'global public goods' and omitting biodiversity loss, despite the interconnectedness of climate change and biodiversity.
• The authors argue that the US preference for channeling climate finance through MDBs rather than UNFCCC funds is a political move to maintain control and avoid paying historical fair shares, noting that UNFCCC funds like the Green Climate Fund (GCF) offer higher concessionality and more democratic governance.
• The document condemns the 'de-risking' of private capital, asserting it shifts financial risk to public balance sheets in borrowing countries and may subsidize institutional investors like BlackRock over pro-poor policies.
• The signatories demand that the WBG stop financing fossil fuels, petrochemical infrastructure, industrial animal agriculture, and 'false solutions' such as Carbon Capture, Utilization and Storage (CCUS) and Nature Based Solutions (NBS).
• The role of the International Center for the Settlement of Disputes (ICSID) is highlighted as a barrier to climate action because it allows corporations to sue governments over lost profits resulting from climate regulations.
• The WBG is criticized for its role in sovereign debt, specifically its 'preferred creditor status' which prevents it from participating in debt relief despite holding 20% of V20 external debt stocks.
• The document calls for a total overhaul of the WBG's use of conditionality and policy advice, particularly regarding Development Policy Finance (DPF), which is described as a 'gateway to austerity' and a loophole for fossil fuel restrictions.
• The authors call for the removal of WBG President David Malpass and an end to the 'gentleman’s agreement' where the US always nominates the Bank's president.

APA

Trend Asia (2023). World Bank Evolution Roadmap an Expansion of Business as Usual – True Transformation Needed. https://trendasia.org/wp-content/uploads/2023/02/CSO-Letter-to-US-Treasury-WBG-evolution-.pdf

Chicago

Trend Asia. World Bank Evolution Roadmap an Expansion of Business as Usual – True Transformation Needed. 2023. https://trendasia.org/wp-content/uploads/2023/02/CSO-Letter-to-US-Treasury-WBG-evolution-.pdf.

Wikipedia

{{cite press release |author=Trend Asia |title=World Bank Evolution Roadmap an Expansion of Business as Usual – True Transformation Needed |date=10 February 2023 |url=https://trendasia.org/wp-content/uploads/2023/02/CSO-Letter-to-US-Treasury-WBG-evolution-.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{trendasia2023world, author = {{Trend Asia}}, title = {{World Bank Evolution Roadmap an Expansion of Business as Usual – True Transformation Needed}}, publisher = {Trend Asia}, year = {2023}, month = feb, url = {https://trendasia.org/wp-content/uploads/2023/02/CSO-Letter-to-US-Treasury-WBG-evolution-.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }