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Over 100 NGOs ask World Bank to end fossil fuel funding

Over 100 NGOs ask World Bank to end fossil fuel funding
World Bank Group provides over $12 billion for 88 fossil fuel projects in 38 countries in 2014-2018, NGOs say

By Burak Bir

ANKARA (AA) - More than 100 environmental NGOs around the world on Friday sent a letter to the World Bank Group (WBG), demanding end to fossil fuels funding.

A total of 112 organizations, including 350 Movement, Amazon Watch, ActionAid International and Fridays For Future, called for action to stop the "climate catastrophe."

"The signs of the unfolding climate emergency are evident: record-breaking forest fires in the Brazilian Amazon and Cerrado biomes; ice-melt in the Arctic; devastating flooding in Mozambique and South Asia; and unprecedented and deadly heatwaves across Europe in just the past year," the letter stressed.

From 2014 to 2018, it stated, the WBG facilitated fossil fuels development in 45 countries instead of helping countries make the transition from fossil fuels:

"During this period, the WBG provided over $12 billion in project finance for 88 fossil fuel projects in 38 countries. In addition, the WBG assisted the development of fossil fuels through policy programs in at least 28 countries, including the development of coal in six countries," the letter read.

Stressing that world leaders as well as institutions should act to stop the climate crisis, the letter urged the WBG to play a leading role to end all support to fossil fuels by the end of 2020.

It said the shift to carbon-free world, which is necessary to stabilize the world's climate, should be accompanied by increased investments in renewable energy access -- especially in SubSaharan Africa and South Asia.

More than 6,100 events were held in 185 countries -- with the support of 73 Trade Unions, 820 civil society organizations, 3,000 companies and 8,500 websites -- on the Global Climate Strike on Sept. 20., which was recorded as the biggest ever climate mobilization with the participation of 7.6 million people.

source: News Feed
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