You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Report: World Bank Funded $15 Billion in Fossil Fuel Projects Despite Divestment Pledge

HeadlineOct 07, 2022

A new report finds the World Bank has financed at least $14.8 billion in fossil fuel development since the signing of the Paris Climate Agreement in 2015. That’s despite a pledge by World Bank officials roughly five years ago to stop supporting oil and gas projects within two years. A campaigner with the group Glasgow Actions Team said, “If the World Bank wants to be a part of the solution rather than the problem, it needs to stop funding fossil fuels and unlock billions in order to support the transition to renewable energy across the globe and end poverty and inequality.”

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top