Blog

Ahead of the 2023 World Bank Spring meetings, we have compiled the major MDBs' 2022 energy finance data for the first time.

Last week, civil society advocates from across the world convened outside the Washington DC headquarters of the World Bank to protest the Bank’s highly controversial financing of deadly fossil fuel projects.

39 countries and institutions signed a joint commitment to end any support for fossil fuels flowing abroad by the end of 2022, and in its place prioritize finance for clean energy. Recently the G7 reaffirmed their commitment and were now also joined by Japan, the only G7 member who hadn’t signed on. Here's what that means.

To do anything less than stopping all public money to fossil fuels dishonors the memory and sacrifices of Saro-Wiwa, the Ogoni 9, and countless others who have risked and lost their lives to defend their lands and communities.

The European Investment Bank (EIB) is the world’s largest multilateral lender, bigger even than the World Bank. As a public bank, it’s tasked with providing finance in the EU public interest, and it has an outsized influence on the EU’s energy system because of the private investment it can “crowd in” and the sheer amount of money it has at its disposal.

This month we took escalated our campaign and took the fight directly to US Bank’s Annual Shareholder Meeting in Albuquerque, where representatives from pipeline resistance groups from across the nation told their stories directly to US Bank executives.

Over 200 civil society groups released a letter calling on multilateral development banks, including the World Bank, and leaders of G20 governments to commit to phase out subsidies and public finance for fossil fuels as soon as possible.

A new briefing shows that about one-quarter of multilateral development banks’ energy investments between fiscal years 2014 and 2016 flowed to fossil fuel infrastructure, directly at odds with efforts to fight climate change.