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Environment

Environment

Analysis

Confronted with climate emergency, IMF belatedly attempts to "get real"

Fund turns its attention to carbon pricing to support Paris Agreement alignment, as climate vulnerable countries see rising cost of climate impacts.

30 July 2019

Environment

News

IFC’s Green Equity Strategy faces set-back at Board

As climate crisis deepens, IFC’s Green Equity Strategy faces delay from World Bank’s Board, with CSO activists calling Board’s foot-dragging a ‘scandal’.

30 July 2019
The wind park near the village of Bulgarevo,Bulgaria.

Environment

Analysis

Low-carbon infrastructure, sustainable finance, and people-focused development

This briefing emphasises the interdependence between the SDGs and the Paris Climate Agreement, in terms of ensuring that all new infrastructure is climate resilient and aligned with the low- or zero-carbon pathways required to avert catastrophic climate change – which would render achieving the SDGs impossible.

18 July 2019 | Briefings

Environment

News

Despite new 2025 climate targets, World Bank's Paris Agreement alignment remains work in progress

Bank releases new targets for 'climate-related investments' between 2021-2025, but fails to introduce new restrictions on fossil fuel finance.

4 April 2019

Environment

News

As climate crisis bites, World Bank further distances itself from coal

International Finance Corporation announced new ‘green equity’ policy to encourage financial intermediaries to divest from coal, while Bank pulled plug on mooted Kosovo coal project.

6 December 2018

Environment

Background

Carbon finance: The role of the World Bank in carbon trading markets

This Inside the Institutions looks at the role of the World Bank in carbon finance initiatives

26 September 2018 | Inside the institutions
An Artic-bound oil rig in Seattle's Elliot Bay in 2015.

Environment

News

World Bank DPL paves way for offshore drilling in Guyana, despite CSO concerns

Bank approves $35 million development policy loan to help Guyana commence offshore drilling, amidst CSO legal challenge to offshore drilling permits

24 July 2018

Rights

News

CAO released damning audit of IFC hydro project in Guatemala

CAO audit finds IFC failed to identify gaps in project’s social and environmental assessment, while communities impacted by the project face impacts on water source, livelihoods and levels of violence.

7 December 2017

Other news

Finance

News

30 July 2019

IMF and World Bank complicit in “climate debt trap” following Mozambique cyclones

International community fails to deliver on 'Loss & Damage' while poorest countries become further indebted.

Environment

News

30 July 2019

Climate Investment Funds quietly postpone decision on how to implement ‘sunset clause’

CIFs indefinitely postpone decision on when they will close, prompting concerns CIFs recapitalisation drive will rival GCF replenishment.

Environment

News

4 April 2019

As Green Climate Fund and World Bank sign framework agreement, concerns about Bank's role linger

Bank and GCF finalise framework agreement, meaning nine co-financed projects can go forward.

Environment

News

24 July 2018

Development banks pump more money into Southern Gas Corridor, despite fresh concerns

EBRD approves €500 million loan for TAP, as Italy announces it will review its support for project

Environment

News

4 April 2018

World Bank remains GCF interim trustee amid questions over long-term status

GCF’s permanent trustee will chosen through open bidding process with final decision expected to be taken in October

Environment

News

6 December 2017

COP 23 puts Bank-backed climate insurance in spotlight

Lack of progress on Loss & Damage finance at global climate talks means climate insurance remains default option to mitigate losses from climate change.

Environment

News

6 December 2017

Landmark climate-change complaint against IFC lodged in Philippines

The Philippine Movement for Climate Justice (PMCJ) makes history by filing first ever climate-related complaint against the IFC with the Compliance Advisor Ombudsman (CAO).

Environment

News

27 September 2017

Jon Sward joins the Project as Environment Project Manager

Jon will manage BWP’s work on the environmental impacts of World Bank policies and projects.