Bank releases new targets for 'climate-related investments' between 2021-2025, but fails to introduce new restrictions on fossil fuel finance.
Environment
Environment
Analysis
World Bank's investment in Seven Energy in Nigeria once again calls Bank's due diligence into question
World Bank's due diligence processes highly suspect as it invests a quarter of a billion dollars in Nigerian Seven Energy, where several individuals associated with the company’s flagship contract are now either on the run or charged with money laundering.
Environment
News
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
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
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.
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
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
Environment
Analysis
As World Bank signals end of extraction finance, CSOs call for end to its other fossil fuel funding
Despite World Bank's One Planet Summit announcement that it will stop funding oil and gas extraction after 2019, it still has much to do to fully decarbonise its lending portfolio.
Environment
News
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
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.
