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Civil society organizations react to World Bank Climate Change Action Plan's failure to end finance for fossil fuels


Oil Change International
FOR IMMEDIATE RELEASE
Bronwen Tucker, Oil Change International: bronwen[at]priceofoil.org
Kate Geary, Recourse: kate[at]re-course.org
Jacey Bingler, Urgewald: jacey[at]urgewald.org
Civil society organizations react to World Bank Climate Change Action Plan’s failure to end finance for fossil fuels
Today, the World Bank Group released its new Climate Change Action Plan (CCAP) for 2021-2025. 
The CCAP represents a colossal failure to end the Bank’s long-standing support for fossil fuels. 
The Bank has also rejected requests from civil society and World Bank shareholders for a public consultation on a full draft of the plan. The World Bank’s press release notes the Bank, “will regularly update its Board on the implementation of the Action Plan,” without providing further details of what aspects of the plan it will report on. ....

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World Bank plans climate shift but no fossil fuel halt: Report


A revised World Bank policy on climate change commits to making financing decisions in line with efforts to limit global warming but stops short of promising to halt the funding of fossil fuels, according to a draft bank presentation seen by the Reuters news agency.
The World Bank, the biggest provider of climate finance to developing countries, is finalising a new five-year climate action plan amid growing political momentum in the United Kingdom, the United States and other countries for ending public financing of high-emission fossil fuel projects.
In a sharp reversal from the administration of former President Donald Trump, the US, the bank’s largest shareholder, is drafting plans under President Joe Biden’s administration to end US financing for international fossil fuel projects. ....

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