The communiqué for the V20 highlighted multitude of crises facing climate-vulnerable developing countries, with continuing challenges posed by the Covid-19 pandemic and unequally felt climate change impacts now being exacerbated by the spillover effects from the Ukraine war.
Loan programme in Pakistan undermines country’s plans for low-carbon transition, as tax breaks on renewables and EVs slashed from IMF-mandated mini-budget.
Climate-for-debt swaps mechanism proposed by IMF fails to materialise, while rich countries' climate finance commitments remain unmet.
UN official and civil society criticise World Bank and other MDBs for lack of ambition at COP26.
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.
Strategy proposes adding up to 95 new staff to boost Fund’s capacity to work on climate issues, as civil society research suggests Fund advise misaligned with just energy transition.
Indonesian civil society have raised concerns that the World Bank is promoting gas and supporting further coal expansion in its new Country Partnership Framework.
Plan lacks detail in key areas, including concrete commitments to end fossil fuels support.
Civil society voices concern about continued support for fossil gas under the policy.
ICSID suit against Dutch government’s fossil phase out highlights threat to climate action posed by investor-to-state dispute settlement mechanisms
IMF and World Bank policies and programmes work in tandem to expand and deepen financialisation, exacerbating the inequality crisis and harming human rights, financial stability and democratic governance
