The World God "So Loved"
2 Peter 2:5John 3:16
When the Bible speaks of "the world" it can mean unsaved people.
2 Peter 2:5 And spared not the old world, but saved Noah the eighth person, a preacher of righteousness, bringing in the flood upon the world of the ungodly;
The "world of the ungodly" are the unsaved.
Or, God can speak of the world and have it refer to saved people:
John 3:16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.
The world that God "so loved" or the people God so loved are those He saved, His elect.