MIGA's FY25 Climate-related Financial Disclosure

Development gains are increasingly at risk in many countries due to slow economic growth, rising fragility and conflict, and the escalating impacts of climate change. An essential part of the World Bank Group’s vision of ending poverty on a livable planet is a commitment to helping people and communities adapt to and prepare for climate change impacts that undermine their health, productivity, and overall well-being.

To this end, the World Bank Group is leveraging its expertise and financial instruments to help countries ensure their development gains remain resilient, sustainable, and fiscally sound. A key part of the Multilateral Investment Guarantee Agency (MIGA) contribution in this effort in fiscal year 2025 (FY25) was its leadership in launching the World Bank Group Guarantee Platform, a strategic initiative that consolidates the guarantee products and expertise of the World Bank (International Bank for Reconstruction and Development (IBRD)/International Development Association (IDA)), International Finance Corporation (IFC), and MIGA into a single, streamlined marketplace. With a goal to boost annual guarantee issuance to $20 billion by 2030, the Guarantee Platform positions guarantees as a central tool for de-risking and catalyzing private investment in emerging markets and developing economies. The Guarantee Platform enables MIGA and the World Bank Group to deliver transformative projects efficiently and at scale, especially in the most vulnerable, fragile, and conflict-affected settings.

The World Bank Group Climate Change Action Plan (CCAP) 2021–20261 has provided a strategic roadmap for harnessing cross-border private investment for projects that generate climate and development co-benefits. In FY25, MIGA surpassed the World Bank Group climate finance target of 45 percent for the fiscal year by delivering $3.5 billion in climate finance, accounting for about 55 percent of MIGA’s guaranteed loans and equity.

MIGA’s guarantees were deployed to support projects ranging from renewable energy and low-carbon transport to climate‑resilient infrastructure, from conservation agriculture to carbon‑credit‑generating clean cookstove initiatives. MIGA also continued to target underserved markets through its financial sector projects, with a particular focus on small and medium-sized enterprises (SMEs), including those owned by women, underscoring its commitment to inclusive, sustainable development and its role in catalyzing private sector investment where it is needed most. Additionally, MIGA achieved 100 percent Paris Alignment of new operations in FY25, continuing the momentum from FY24 and exceeding its targets of aligning 85 percent of new operations with the low‑carbon‑development and climate‑resilient goals of the Paris Agreement starting July 1, 2023, and 100 percent by July 1, 2025.

The World Bank Group Evolution Roadmap (December 18, 2022) has continued to guide the transformation of our approach to development in FY25, placing a strong emphasis on measurable outcomes and impact. At the heart of this transformation is the revamped World Bank Group Scorecard, which replaces legacy indicators with a streamlined set of outcomes, results, and vision metrics. This shift ensures that progress is assessed not only by financial commitments, but by tangible improvements such as emissions reduction, increased renewable energy adoption, and greater resilience to climate risks.

In parallel, MIGA as part of the World Bank Group has worked closely with other multilateral development banks (MDBs) to develop common metrics for measuring results, reinforcing a shared commitment to impact- and outcome-driven development. Collectively, these initiatives reflect a concerted effort to support sustainable growth in emerging and developing economies.