Read the latest insights and analysis from the experts at Oil Change International.
In spite of a heightened institutional focus on combating climate change, the World Bank increased its lending for fossil fuels over the last year. Meanwhile, the World Bank also has a ways to go in terms of tackling its objective of supporting universal access to energy, as only 8 percent of the Bank’s energy portfolio last year targeted the world’s poorest.
The new IPCC report shows that we must keep roughly 80-to-95% of proven reserves of fossil fuels in the ground if we want a decent shot at avoiding catastrophe.
Whether you’re from Europe or the US, your tax dollars are helping them finance climate-damaging fossil fuel projects, thanks to the EBRD. But that can change.
