Around the world, climate change is intensifying the destruction and human suffering caused by severe weather events, including, inter alia: flooding, hurricanes, drought, heat waves and forest fires.
UNICEF reports that a billion children worldwide are vulnerable to the effects of climate change. The World Bank states that without urgent action, climate change will push more than 100 million people into poverty by 2030.

The burning of fossil fuels is the biggest contributor to the climate crisis. No fossil fuel investments are needed to provide energy access to the poor because existing renewable energy technologies are already the best option. As such, the UN Sustainable Energy for All initiative states that “financing of fossil fuel projects as a means of closing the energy access gap should be terminated.”

There are no more excuses, no public assistance should be used to boost or prop up the development of fossil fuels. Yet the World Bank is still using its public funding to drive billions and billions into fossil fuel investments, including coal.

To learn about the World Bank’s fossil fuel assistance click here.