The World Bank manages and invests huge amounts of public money in development projects. We need them to get all their money out of dirty fossil fuels and into affordable renewable energy – starting immediately with exploration finance.
Even after the signing of the Paris Agreement, institutions like the World Bank continue to spend our public money supporting the search for oil, gas, and coal. Last month at their annual meeting, the World Bank agreed to track and report the greenhouse gas emissions of its investments – which is a good first step, but not nearly enough. If we send the World Bank thousands of letters from around the world, we can raise enough pressure to get another victory.
Demand that World Bank President Jim Yong Kim commit to ending finance for fossil fuel exploration as part of the big shift away from dirty energy finance to clean, renewable energy.
Together, we can shift the World Bank and its peer institutions to ditch dirty fossil fuel finance and ramp up clean energy finance – but it means we have to raise our voices together.
Development institutions like the World Bank are supposed to be eradicating poverty. Instead, they’re exacerbating it by feeding the climate crisis, which hits the world’s poorest people harder than anyone else.
Tell World Bank President Jim Yong Kim: It’s time to shift from dirty energy finance and scale up support for clean, renewable energy – starting by ending exploration finance.