A new report finds the World Bank has financed at least $14.8 billion in fossil fuel development since the signing of the Paris Climate Agreement in 2015.
Washington, October 10 (RHC)-- A new report finds the World Bank has financed at least $14.8 billion in fossil fuel development since the signing of the Paris Climate Agreement in 2015. That’s despite a pledge by World Bank officials roughly five years ago to stop supporting oil and gas projects within two years.
A campaigner with the group Glasgow Actions Team said: “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.”
