“Despite Malpass’s departure, the World Bank Group still funds more fossil fuels than any other multilateral development bank. Ending this support must be top priority ahead of the Bank’s Spring Meetings,” said Tucker.
Today the Government of Canada released a plan to end new public finance for fossil fuels abroad and instead prioritize clean energy projects.
Climate change organizations under the Big Shift Coalition have called on the World Bank to fire its President David Malpass.
Russia’s war in Ukraine and fuel price spikes mean international public finance institutions must roll out rapid decarbonization and aid packages, not back track by locking in new fossil infrastructure.
This briefing explains why financial flows to fossil fuels matter and how to use the data provided by the Public Finance for Energy Database to help secure a just energy transition.
Today the Council of the European Union will approve a statement that commits all Member States to end international public finance in the form of export credits for projects in the fossil fuel energy sector.
Ahead of the first meeting of this group of signatories expected today, a group of 57 civil society organizations from every continent sent a letter to the UK government with recommendations for how to ensure the commitment is effective.
New report updates analysis of public financing for energy projects ahead of expected joint announcement to end these flows at COP26.
New analysis details why a just energy transition in Africa requires an end to new oil, gas, and coal extraction projects
Today, Canada’s export bank, Export Development Canada (EDC), released new climate targets.