World Bank spent billions of dollars backing fossil fuels in 2022, study finds
World Bank spent billions of dollars backing fossil fuels in 2022, study finds
Campaigners estimate about $3.7bn in trade finance was supplied to oil and gas projects despite bank’s green pledges
I'll note that climate activists forced the resignation of the World Bank president in early 2023, so things may have changed significantly since 2022.
These headlines infuriate me. What the fuck is the headline or story gonna do? Stop them investing? Fuck no. Push goverments to legislate against them? Fuck no. The headline should, at this point just be: gov/corps aren't going to stop investing in fossil fuels, revolution is needed now.
But I suppose that's too long a headline
ikr where is the solutions-based journalism?
The World Bank is fully owned by governments. So it is a relativly easy target to get some change done.
Most governments are fully owned by the oligarchy, so they're a relatively easy target to ignore the will of the people and maximise profitability on behalf of corporations.
We forced replacement of the president of the World Bank in early 2023, so I'm expecting to see this change