The World Bank is reportedly rethinking its goal, financial model, and leadership. After 78 years, the strong global institution has been under pressure to reform and criticism from its government shareholders, particularly the US and Germany, for failing to address global challenges including debt distress, poverty, and climate change. The Bridgetown Initiative, sponsored by Barbados, is calling for innovative ways to give more finance to address a "unprecedented combination of crises".
In December, the World Bank announced an Evolution Roadmap to examine its mission and finances. In February, its president, David Malpass, resigned early in June 2023 after climate denialism allegations.


These changes have prompted optimism that the international financial institution is doing some soul-searching and will soon emerge ready to spearhead climate change action. However, a closer look at the various opaque ways the Bank pumps billions into the fossil fuel industry reveals that the change needed is far deeper and more thorough than what is being discussed.
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9 w
The World Bank is actively transitioning from funding fossil fuel projects to supporting green initiatives. This shift is part of their broader strategy to combat climate change and promote sustainable development.
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83 w
I will have to sit through this one and watch it actually happen. Have major trust issues at this point
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83 w
A great achievement
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84 w
Great to see the World Bank shifting to a good stance. Surely, this is the way to go.
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84 w
Green energy is key to a safer, cleaner, and sustainable world.
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84 w
This is great other fossil fuel financiers should follow the same steps
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84 w
This is all we need
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84 w
This is great transition.
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84 w
Finally. They have really aided the polluters for a long time.
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84 w
Brilliant!Every other fossil fuel financier should rethink their atrocious investments and make the shift to green investment projects instead