World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.

World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
Addition of cumulative carbon emissions indicator in IMF quota formula would give climate-vulnerable countries greater voice in IMF.
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
Despite continued public rhetoric about importance of civil society engagement, Bank is yet to commit to holding a public consultation period on its Paris alignment approach.
The links between high debt burdens, lack of climate finance, austerity and the rise in political instability and fragility, conflict and violence remain largely neglected as IMF shareholders consider calls for a new SDR allocation, as proposed by the Bridgetown Agenda.
Notes from a Civil Society Policy Forum event on 14 October titled "Greening whole economies? Unpacking World Bank plans for Paris alignment by July 2023."
More than 300 organisations and individuals call upon the IMF to urgently address one of the most glaring and easily rectifiable contradictions between its stated support for a just transition and its actions by immediately ending its surcharge policy.
Newly released study by Oxfam finds that the Bank’s claims of climate finance for FY2020 could be off by as much as 40 per cent, or $7 billion, highlighting the urgent need for greater public disclosure.
In the face of growing calls to ‘de-risk’ green investments for the private sector, academic experts call for developmental allocative green credit regimes, rather than market-led approaches.
Non-debt forms of financing essential, as many countries on front line of climate change face ‘polycrisis’ that threatens macroeconomic stability.