World Bank
World Bank body delays vote on controversial loan to Brazilian dairy firm
Campaigners say the $32m loan to dairy firm Alvoar Lacteos could damage forests in Brazil
Saudi Arabia, Russia push for more World Bank money into carbon capture
At a meeting discussing the World Bank’s stronger focus on climate, Russia has also urged the lender to extend its support for gas projects.
World Bank’s baby steps – Climate Weekly
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Developing countries call for new government funds for World Bank
Developing nations have called for a capital increase for the World Bank, while rich nations want to stick to accounting tweaks.
World Bank steering committee and US urge for reforms on climate lending
At the World Bank’s spring meeting, US Treasury Secretary Janet Yellen called for the adoption of a reform that would free up funds for climate lending.
What’s at stake for climate at the World Bank’s spring meeting?
The World Bank controls tens of billions of dollars which can make a real difference in the fight against climate change. A coalition of nations is pushing for green reforms.
World Bank’s private sector arm to stop supporting new coal
The International Finance Corporation is closing a loophole that allowed its financial clients to continue funding new coal projects
World Bank backs mega dam threatening to displace thousands in Mozambique
The World Bank argues the project will accelerate the energy transition in southern Africa, but people facing displacement say their voices are not being heard
US backs Ajay Banga to lead World Bank in climate fight
The Indian-American businessman is likely to become the bank’s next president, as the US traditionally chooses who leads the institution
India set to push for green World Bank reforms at G20
India wants the World Bank to lend more money for climate finance, at cheaper rates, in developing countries and will use its G20 chair to push this agenda
“First step”: Reformers react to World Bank plan to free up climate spending
The bank plans to relax its lending rules to channel more money into projects tackling climate change – but officials pushing the reform say it is too timid
Another sceptic bites the dust – Climate Weekly
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World Bank proposes freeing up $4bn by loosening lending rules
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
World Bank chief to step down early after climate controversy
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
World Bank moots stronger strategic focus on climate action
A draft document suggests the bank will broaden its “twin goals” of boosting prosperity and ending extreme poverty to encompass climate action
US, Germany back ‘fundamental reform’ of World Bank to scale climate finance
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
Mia Mottley builds global coalition to make financial system fit for climate action
In July, Barbados’ prime minister invited leaders to a retreat to discuss plans to scale-up international finance for the climate frontlines. Now, she’s asking the world for support
To meet net zero by 2050 we need a long-term vision for carbon pricing
Only about 3.8% of global emissions are covered by a carbon price above $40 a tonne – that needs to change if the world is to meet the Paris Agreement goals
Why Grenada had to nationalise its electricity for $60m to pursue renewables
A one-sided privatisation deal and flawed World Bank advice landed Grenada with a hefty legal bill to reform its electricity sector and cut reliance on polluting diesel
World Bank branch indirectly backs coal megaproject despite green pledge
International Finance Corporation piloted its green equity policy with an Indonesian bank, which went on to fund a 2,000 MW coal complex