Washington, Oct. 18, 2025

France will continue to support the World Bank’s climate finance goals even as the United States urges the global lender to scale them back, French Development Minister Eleonore Caroit said on Friday.

Speaking at the World Bank and International Monetary Fund annual meetings in Washington, Caroit made it clear that France will not back down from the World Bank’s target of increasing climate-related financing to 45% of total lending. This target, set under the Biden administration, has been challenged by the Trump administration, which wants the Bank to return to funding coal, oil, gas, and nuclear projects instead.

Caroit, who was appointed earlier this week to Prime Minister Sebastien Lecornu’s new cabinet as junior minister for Francophonie, international partnerships, and French citizens abroad, flew to Washington immediately after taking office. She said that climate action will remain central to France’s policies and will also be a top priority when the country takes over the presidency of the Group of Seven (G7) industrial nations in 2026.

In her discussions with U.S. Treasury Secretary Scott Bessent, Caroit emphasized that France fully supports the World Bank’s climate financing goal of 45%. “We continue to support the 45% objective,” she said. “For us, climate is extremely important. Development and job creation are vital, but they must happen on a livable planet. Otherwise, what’s the point of having jobs?”

Bessent, however, criticized the World Bank’s climate push, calling it “vapid, buzzword-centric marketing.” He argued that focusing heavily on climate projects distracts from the Bank’s main mission of expanding reliable energy access, particularly in developing countries.

The debate follows a major shift at the World Bank last year, when its president Ajay Banga introduced a new vision statement — “A world free of poverty on a livable planet” — to show a stronger link between climate action and poverty reduction. France has strongly backed this vision, while the U.S. has expressed skepticism.

Despite the disagreements, Caroit said she appreciated Bessent’s willingness to discuss different energy sources, including renewables. She noted that both France and the U.S. recognize nuclear power as a sustainable energy option. France, which relies on nuclear energy for over 70% of its electricity, sees it as a key part of a clean and secure energy future.

Caroit also highlighted potential areas where the two countries can find common ground, such as investing in climate adaptation and resilience projects — efforts to prevent floods, wildfires, and other disasters that harm both people and economies. She said these projects naturally fit within the World Bank’s climate finance goals, even if the U.S. prefers to frame them differently.

“We may use different words, but we’re often talking about the same goals,” Caroit said. “We might disagree on principles, but both countries want to make development work better, especially at a time when budgets are tight.”

She added that France supports broader reforms to the global development system to make it more effective and impactful. “We all recognize the need to rethink the financial and institutional structure if we want to protect essential development goals and achieve greater results,” she said.

 France Stands Firm on Climate Goals

France’s new Development Minister Eleonore Caroit has reaffirmed the country’s commitment to the World Bank’s climate finance goals, despite pressure from the U.S. to scale them back. Speaking at the World Bank and IMF meetings in Washington, she said France will continue to support the target of 45% climate-related financing and align efforts with the Paris Agreement. Caroit emphasized that development and job creation must go hand in hand with protecting the planet. She also noted that both France and the U.S. can cooperate on renewable energy, nuclear power, and climate resilience projects for sustainable growth.