“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.
Response to Financial Stability Oversight Council Report on Climate-Related Financial Risk
“Arriving at COP26 with a climate risk plan that doesn’t adequately address financial institutions’ funding of fossil fuels means the Biden Administration risks forfeiting its chance at climate leadership,” said Rees.
Nearly 450 Organizations Call on Biden Administration to End Public Finance for Fossil Fuels
Over 400 organizations from 50 countries signing onto a new letter called on the Joe Biden administration to immediately end all U.S. public financing for fossil fuels, including natural gas.