A group of 50 NGOs found that bank and subsidiaries had funded oil refinery and gas processing
The World Bank has provided nearly $15bn of finance directly to fossil fuel projects since the Paris agreement was signed in 2015, and is likely to have spurred far greater investment indirectly, new research has found.
Funding for “upstream” oil and gas projects from the World Bank was meant to stop from 2019, but the Big Shift Global, a coalition of more than 50 NGOs, has found the bank and its subsidiaries funding oil refinery and gas processing since then.