Published 2 years ago

World Bank Continues Financing Fossil Fuels Despite Climate Crisis

Summary by Ground News

The World Bank Group has funneled $14.8 billion into fossil fuel projects around the world since the Paris Climate Agreement was signed in 2015. That money has helped build gas pipelines, refineries, liquefied natural gas import terminals and gas-fired power plants, according to a new report. The report analyzed the financial flows from the World Bank in recent years.

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Alternet

'One of the biggest arsonists': World Bank blasted for 'investing' $15 billion into planet-scorching fossil fuels

A coalition of over 50 advocacy groups on Thursday published a report revealing that the World Bank has directly financed at least around $15 billion in fossil fuel development since the signing of the 2015 Paris climate agreement—despite the international financial institution's 2017 pledge to stop supporting oil and gas projects within two years.Big Shift Global's report—entitled Investing in Climate Disaster: World Bank Finance for Fossil Fue…

2 years ago·Washington, United States

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Common Dreams

After Dumping $15 Billion Into Fossil Fuels, World Bank Urged to Stop 'Investing in Climate Disaster'

"If the World Bank wants to be a part of the solution rather than the problem, it needs to stop funding fossil fuels and unlock billions in order to support the transition to renewable energy across the globe and end poverty and inequality," said one campaigner.

2 years ago·United States

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DeSmog

World Bank Continues Financing Fossil Fuels Despite Climate Crisis

The World Bank Group has funneled $14.8 billion into fossil fuel projects around the world since the Paris Climate Agreement was signed in 2015, undercutting global efforts to combat the worsening climate crisis. That money has helped build gas pipelines, refineries, liquefied natural gas import terminals and gas-fired power plants, according to a new report […]

2 years ago

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bigshiftglobal.org

Investing in Climate Disaster: World Bank Finance for Fossil Fuels | The Big Shift Global

This new report shows that even after the Paris Agreement, climate science and climate impacts should have been focusing minds at the WBG on the need for a transition to clean renewables sources of energy, the Group remained in a fossil-funding paradigm, harmful to people, countries and planet.

2 years ago

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World Bank Continues Financing Fossil Fuels Despite Climate Crisis

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'One of the biggest arsonists': World Bank blasted for 'investing' $15 billion into planet-scorching fossil fuels

'One of the biggest arsonists': World Bank blasted for 'investing' $15 billion into planet-scorching fossil fuels

After Dumping $15 Billion Into Fossil Fuels, World Bank Urged to Stop 'Investing in Climate Disaster'

After Dumping $15 Billion Into Fossil Fuels, World Bank Urged to Stop 'Investing in Climate Disaster'

World Bank Continues Financing Fossil Fuels Despite Climate Crisis

World Bank Continues Financing Fossil Fuels Despite Climate Crisis

Investing in Climate Disaster: World Bank Finance for Fossil Fuels | The Big Shift Global

Investing in Climate Disaster: World Bank Finance for Fossil Fuels | The Big Shift Global

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