EarthRights International examines how the Jam v. IFC case has helped to shift the landscape of accountability for international financial institutions by successfully challenging their claim to “absolute” immunity in US courts, potentially opening IFC up to further legal challenges in future.
A new Bretton Woods for whom? Civil society calls for democratisation of global governance
As geopolitical tensions rise amidst worsening global economic conditions, civil society demands the democratisation of a world economic order away from the established Global North and elite capitalist hegemony.
IFC approves loan to industrial agriculture producer in Brazil despite pleas for protection of sensitive grassland biome
World Bank’s IFC $200 loan for large-scale agricultural production in Brazil disregards serious human rights and environmental concerns, despite calls by 200 civil society organisations globally
Mozambique IMF loan moves forward amid serious sustainability and transparency concerns
Fresh $456m IMF loan to Mozambique risks adding to insecurity and debt crisis as LNG projects have fuelled conflict and likely to become stranded assets.
V20 calls for more equitable international financial system to tackle risks posed to climate vulnerable developing countries
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.
IMF programme in Pakistan undermines renewable energy roll-out
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.
Lack of public finance and debt relief at COP26 undermines countries' climate goals
Climate-for-debt swaps mechanism proposed by IMF fails to materialise, while rich countries' climate finance commitments remain unmet.
World Bank accused of being ‘ongoing underperformer’ at COP26, as key Bank shareholders commit to fossil-fuel finance phaseout
UN official and civil society criticise World Bank and other MDBs for lack of ambition at COP26.
IMF surveillance and climate change transition risks
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.
New IMF climate strategy seeks to radically expand its climate work – amid concerns about its approach
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.