Fossil fuels

Infrastructure

News

New deal allows for ICSID claims on fossil fuel investments until 2033

Loophole in renegotiated Energy Charter Treaty could see companies sue countries for losses related to fossil fuel projects until 2033.

4 October 2022

Finance

News

Restart of Pakistan’s IMF loan agreement collapses with change in government, as soaring costs of IFC-supported LNG add to fiscal pain

Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.

21 July 2022

Infrastructure

Analysis

World Bank announces support for CCUS in Nigeria despite criticisms it reinforces fossil fuel dependence

World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.

6 April 2022

Environment

News

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.

9 December 2021

Infrastructure

News

New US treasury guidance introduces limits for US support for fossil fuels at World Bank

Civil society voices concern about continued support for fossil gas under the policy.

22 September 2021

Infrastructure

News

Former Ghana national oil company head links World Bank’s Sankofa guarantee to gas power plant deals

Alex Mould says guarantee included commitment to sign four ‘take or pay’ contracts with independent power producers.

22 September 2021

Environment

News

World Bank’s new Climate Change Action Plan fails to deliver much-needed transformative agenda

Plan lacks detail in key areas, including concrete commitments to end fossil fuels support.

13 July 2021

Environment

News

World Bank's oil revenue outlook for Guyana at odds with climate action

Bank’s lofty projections for oil-based growth contradict more sober estimates that account for uncertainty in sector.

13 July 2021
A fracking well in Vaca Muerta, Argentina.

Finance

Analysis

Fracking’s false hope: Why fossil fuels won’t help to repay Argentina’s national debt

Argentina’s strategy to increase fossil fuel exports to ease debt burden ignores need for increased state investments and climate commitments.

7 April 2020 | At Issue

Infrastructure

Analysis

Ghana’s Sankofa gas project - backed by World Bank - brings fiscal pain

Ghana left with $250 million bill for unused gas in 2019 primarily due to ‘take or pay’ clause in Bank-supported PPP contract.

7 April 2020