The World Bank Group (WBG) is a major provider of risk mitigation instruments. This study provides an overview of general risk coverage offered through the WBG’s various member institutions, potential gaps compared to existing demand, and trends of risk coverage commitments for climate change. The authors conclude that, at least in theory, the WBG provides coverage against most risk categories, particularly those faced by private debt investors. Yet, few risk instruments appear to have been used at a significant scale to support climate related projects. The report identifies options that could improve this situation, such as a specific mandate for the WBG to broaden the use of its risk mitigation instruments for climate change.