Problematic track record on climate and fossil fuel finance means IMF-World Bank collaboration on the Resilience and Sustainability Trust risks repetition of failed policies.
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.
G24 finance ministers called for urgent global action to mitigate the effects of rising debt levels in emerging economies, and rising global food, energy and commodity prices.
RST must support low- and vulnerable middle-income countries to recover from the pandemic and tackle economic and climate-related structural challenges.
World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.
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.
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
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.
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
Notes from the virtual Civil Society Policy Forum event on 30 March.
New report raises uncomfortable questions for World Bank leadership about the credibility of the Bank’s climate finance accounting methods.
Environmental groups and activists claim victory after years of campaigning.
CSOs call for IFC to close remaining loopholes in Green Equity Approach, after equity client chosen to pilot the initiative makes investment in coal plant expansion in Indonesia.
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.
