'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,' asserts glasgowactions' andrewnazdin.
, the Biden administration is considering an attempt to remove the World Bank president and replace him, perhaps with former U.S. vice president and early climate champion Al Gore or current Biden climate envoy John Kerry.
The coalition added that multilateral development banks"such as the World Bank manage billions of dollars of public money," making them"key to financing the shift to a sustainable renewable global energy system."End all direct and indirect finance to fossil fuels and promote a just transition; Include strong environmental, social, and governance safeguards relating to fossil fuels and renewable energy; and
The World Bank says it is"the biggest multilateral funder of climate investments in developing countries," and that it intends"to go further in helping countries reduce poverty and rise to the challenges of climate change."
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Swiss National Bank monitoring Credit Suisse situation - MaechlerThe Swiss National Bank (SNB) is following the situation at Credit Suisse closely, SNB Governing Board member Andrea Maechler told Reuters on Wednesday.
Read more »
Bank of America Marathon in Chicago adds nonbinary division in quiet manner some find 'hurtful'The Bank of America Chicago Marathon is the second major marathon in the country to open a division for nonbinary runners.
Read more »
SWIFT sets out blueprint for central bank digital currency networkFinancial messaging system SWIFT has laid out its blueprint for a global central bank digital currency (CBDC) network following an 8-month experiment on different technologies and currencies.
Read more »
U.K. pensions regulator pushed funds into derivatives strategy that prompted Bank of England rescueThe derivatives-based investment strategy that tipped the U.K.’s pension sector into crisis started with good intentions: Help companies fulfill promises...
Read more »
Lebanese lawmaker stages bank sit-in to free trapped savingsCynthia Zarazir, who was elected to parliament in May polls, is the latest in a growing number of angry depositors suffering the consequences of an unprecedented financial crisis.
Read more »