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"Energy Transfer’s projects across Pennsylvania and the country continue to trample Indigenous rights, endanger communities, land, and water, and wreck the climate," said Collin Rees of Oil Change International. "Until these projects are shut down permanently, that’s not going to change."
Program Director Alex Doukas said, "David Malpass is a dreadful nominee for the World Bank President. Malpass was Chief Economist of Bear Stearns as the company led the economy off the cliff into a global financial crisis. That tells you all you need to know about David Malpass’ ability as an economic steward."
The U.S. oil and gas industry has the potential to unleash the largest burst of new carbon emissions in the world through 2050, new research released today has found.
“Under President Kim, the World Bank Group demonstrated a degree of climate leadership by announcing an end to financing for oil and gas extraction, and by starting to tighten its rules on lending to private banks who then invest that money in fossil fuels. The World Bank Group still has a long way to go on climate action, and Kim’s departure should not put a stop to this recent progress."
"If MDBs follow through on this commitment, we would expect the EBRD’s brand-new strategy to be obsolete within a year, given what will be required to truly align with the Paris Agreement ambition to limit warming to 1.5°C," said Alex Doukas, Program Director at Oil Change International.