“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.
“The EU’s new international energy strategy is woefully inadequate and would lock in decades’ more extraction of deadly gas and oil,” said Collin Rees.
When it comes to making decisions on expensive and complex energy infrastructure, investors, governments, and companies look decades into the future. Unfortunately for action on climate change, the IEA’s World Energy Outlook has a strong status quo bias.