"As many Global South countries face the worst debt crises we have seen in a generation and climate disasters at the same time, the IMF has a lot to answer for," said Bronwen Tucker.

"The World Bank is falling short by doubling down on fossil fuel transportation investments that will lock in climate chaos while creating new sources of sickening pollution for communities around the globe," said Collin Rees.

After some of the most destructive flooding ever to hit South Africa last week, which resulted in over 400 killed and 40,000 displaced, climate activists are calling on the government to speed up the transition away from fossil fuels.

The communities most at risk from new fossil fuel extraction are primarily Black, Brown and Indigenous peoples, people of the global majority and those on the frontlines of fossil fuel industry expansion.