The bank is under pressure to free up more money to tackle climate change but one expert said this measure does not go far enough
Last year, the World Bank’s president David Malpass refused to accept the scientific consensus on global warming, leading to calls for the US government to push him out
A $100 million project was meant to protect Karachi slumdwellers from flooding, but instead made many homeless before work stalled
A draft document suggests the bank will broaden its “twin goals” of boosting prosperity and ending extreme poverty to encompass climate action
A group of 10 countries led by the US and Germany have presented the bank’s management with a plan to reform the institution this week
David Malpass caused a global outcry for refusing to say whether he accepts the scientific consensus on climate change before rowing back on his comments
The World Bank wants to direct the NFT craze towards projects that cut emissions and improve the transparency of carbon offset markets
Instead of supporting a “just transition” away from fossil fuels, international financiers are offering Suriname $1 billion to enable massive oil investments
International Finance Corporation piloted its green equity policy with an Indonesian bank, which went on to fund a 2,000 MW coal complex
In technical assistance to governments like Mozambique’s, the World Bank favours the interests of the fossil fuel industry over those of ordinary citizens
While the influential development bank has scaled up clean energy finance, fossil fuels are still getting a larger share of support, campaigners found
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As the bank welcomes its new boss, he must fulfil its mission to prevent climate change by bringing clean energy to those currently in the dark
Jim Kim reformed world’s largest development lender, but it continues to finance fossil fuels and his climate legacy could be challenged if the US chooses his successor
Prime minister Haradinaj met with US officials to discuss backing for project the World Bank recently said was uncompetitive with renewables
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The Kosovo e Re lignite plant could not compete with renewables on price, said bank president Jim Yong Kim
International Finance Corporation will require partners to publish their support for coal and seek those with plans to divest
Kosovo C is the last exception to the bank’s policy against backing coal plants, but a new assessment looks set to favour renewable alternatives
World Bank chief Jim Yong Kim tops the bill at a major climate summit in Paris next Tuesday, but part of the institution is still heavily promoting fossil fuels