Inclusive Development International joins 21 civil society organizations in calling on signatories to the new Principles for Responsible Banking (PRB) to commit to immediately end all financing for fossil fuel expansion and activities driving deforestation and human rights abuses. The joint statement calls for a 1.5°C compatible phase-out of financing for the fossil fuel industry […]
(April 11, 2019, Washington DC) – The World Bank Group is quietly bankrolling some of Indonesia’s most destructive coal mining companies, despite instituting a virtual ban on coal financing in 2013, according to a report released today.
As climate crisis bites, World Bank further distances itself from coal International Finance Corporation announced new ‘green equity’ policy to encourage financial intermediaries to divest from coal, while Bank pulled plug on mooted Kosovo coal project. READ FULL ARTICLE ▶
(Bali) – Civil society groups from around the world today welcomed news that the World Bank’s private sector arm, the International Finance Corporation (IFC), has taken significant steps to vastly reduce its exposure to coal through new financial intermediary (FI) investments. The CEO of the IFC, Philippe Le Houérou, has committed to help FI clients […]
International investors have in recent years poured billions of dollars into coal-fired power plants in the Philippines, one of the world’s most vulnerable countries to climate change. The World Bank Group, commercial banks and asset managers have quietly bankrolled a coal boom on the island nation despite many of them pledging to end or cut […]
Some of the biggest players in global finance are quietly backing the world’s most dangerous coal plant, according to an investigative report released today. International investors are enabling and profiting from the proposed Rampal plant in southern Bangladesh despite persistent warnings that it will damage the world’s largest mangrove forest, intensify climate change and imperil […]
Dozens of harmful and high-risk projects in Southeast Asia have received hidden funding from the World Bank Group, an ongoing investigation by Inclusive Development International has revealed. The International Finance Corporation (IFC), the World Bank’s private-sector arm, is surreptitiously channeling money to these projects through for-profit financial intermediaries, such as commercial banks and private equity […]
Ahead of Human Rights Day, December 10th, Inclusive Development International joined with over 45 civil society groups around the world to call on financial institutions, governments and businesses to stand up for human rights in development processes.
Should the World Bank Group be held accountable when financial institutions it supports invest in projects that threaten forests and communities? After tracing the Group’s links to controversial projects like the Rampal coal power station, the activists behind a new report say, “Yes.”READ FULL ARTICLE ▶
The World Bank Group has secretly funded a coal boom in Asia despite announcing a moratorium on such projects in 2013, according to the results of a new investigation.