President Biden’s choice of Ajay Banga is disappointing. This moment demands a World Bank leader who will prioritize the urgency of the climate crisis, not another Big Business executive with no experience in development, environmental work, or the public sector.
Its that time of year again with the annual UN climate meeting, called the conference of the Parties, or COP, just a couple of weeks away. This year’s meeting, COP27, will take place from 6-18 November 2022 at the luxury resort of in Sharm el-Sheikh in Egypt.
The time has come for ambitious E3F action, not just ambitious words. We do not want to see a year of vague compromises and exceptions that water the commitment down and lead to continued support for fossil fuels, such as gas – as this not only puts the climate at risks, it also locks countries in the south into fossil dependence with all the economic risks that come along.
Today’s announcement comes after the Netherlands, Germany and Spain confirmed their participation in the initiative earlier this week and alongside confirmations from Belgium and Sri Lanka today. The French development bank — AFD — had already signed up to the statement, but not the French government as a whole.
Oil Change International, Earthworks, and the Center for International Environmental Law are releasing a new multi-media report series entitled The Permian Basin Climate Bomb. The six-part series analyzes the climate, public health, economic, and social impacts of the Permian fracking boom.
With only six months left till COP26, the UK host has work to do. Ending public finance for fossil fuel projects overseas shows potential, but the UK’s lack of action on fossil fuels domestically risks undermining its credibility.
“A managed decline of oil and gas production that supports affected communities and workers must be central in a just and green recovery from the COVID-19 crisis,” said ver der Burg.
The only path to climate stability is for governments to manage a stable decline in oil while investing in a just transition for workers and currently fossil-fuel dependent communities.
Instead of responding responsibly to the climate crisis, the chief climate denier in the White House, Donald Trump, continues to promote the fossil fuel industry. And even worse, he wants to bail out his fossil fuel friends in response to the rapidly declining oil price.
Just hours after NOAA released its findings on our rapidly warming world, the Trump administration announced that the climate crisis will not be discussed at the G7 summit next June.