Read the latest insights and analysis from the experts at Oil Change International.
As communities face rising debts and rising seas, pressure from people-powered movements has put global financial architecture reform on the multilateral agenda for the first time in decades. This is desperately needed, as our current international monetary, trade, tax, and debt rules are limiting how much funding is available for climate action.
Ahead of the 2023 World Bank Spring meetings, we have compiled the major MDBs' 2022 energy finance data for the first time.
Because they chose to accept David Malpass, Donald Trump's pick for the next World Bank president, the World Bank Group’s Board of Directors are responsible for moving aggressively him in if he attempts to drag the Bank backward on climate change. The Board must not let Malpass do the bidding of the oil and gas industry.
President Trump has nominated David Malpass to be World Bank President If approved, Malpass would be a disaster for the World Bank – and the world. He’s not fit for this role and would drag the World Bank back to climate denial and inaction.
The World Bank's pledge to end all upstream investment in the oil and gas sector by 2019 topples a key pillar holding up the social license around the fossil fuel industry.
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.
Despite increased global interest and investment in Africa, IEA's latest report finds that as many as 530 million people, mainly in rural areas, will still be left without access by 2040 without changes to energy investment.
This week, the Central Java Coal Power Project added to its list of failures, as continued refusal by villagers to sell their land for the proposed coal plant has forced the Indonesian government to yet again extend the deadline for financial closure of the project. This provides yet another reason for the World Bank to intervene.
The World Bank should prioritize energy access by redirecting energy financing away from large fossil fuel projects toward decentralized renewables.
