THE CLIMATE REALITY HAS URGED THE WORLD BANK PRESIDENT TO END ALL FINANCING DEFICITS ON FOSSIL FUEL PROJECTS WORLDWIDE

Climate Reality has urged the World Bank President to take 100 Days to Deliver accelerated action to climate change financing.

In its statement, it \”stated that the World Bank President Banga has 100 Days to Deliver, and 100 Days to Change\”.

Currency from different countries
It\’s perhaps the cruelest fact of climate change: Developing countries have contributed the least to global emissions but often bear the brunt of their consequences in everything from rising sea levels to increasingly powerful storms.

At the same time, developing nations face multiple other crises, from debt and poverty to disease outbreaks and pandemics, and more. The World Bank can and should be a first line of defense in relieving these burdens.

Thankfully, it\’s a new day at the World Bank. We believe that – with new President Ajay Banga’s leadership – the bank can become a powerful force for positive change, opening the door to a better tomorrow for billions worldwide.

The organization appeals to the Apex Bank the use World Bank lending to accelerate a just transition to clean energy in the Global South and beyond.

In ensuring Global South nations have access to the fair credit they need to build healthy and resilient net-zero economies.

The statement read in full as follows:

Dear World Bank President Banga,

PERSONALIZE YOUR MESSAGE

It\’s a new day at the World Bank. We believe that – under your leadership – the bank can become a powerful force for positive change, opening the door to a better tomorrow for billions worldwide.

The challenge is clear. As you have noted, the World Bank cannot advance its mission to end extreme poverty without also confronting the climate crisis head-on. Millions dreaming of a brighter future will never have the opportunity to build it if rising seas swallow their homes and never-ending droughts turn their fields into dust.

The good news is that today, we don\’t have to choose between sustainable development and climate action. With clean energy increasingly the most affordable form of new power across the planet, we can build resilient and thriving economies ready for a warmer world and a healthy future for all – all without fossil fuels.

Critically, Global South nations are ready to rise and lead this effort – if only given the same input, tools, and access to fair credit terms that affluent countries enjoy.

The World Bank can be the catalyst in this transformation, providing vital finance that others cannot and galvanizing the private sector to follow suit. In that spirit, we respectfully urge you to use the first 100 days of your administration to take concrete and transparent steps to advance three key priorities:

• End all financing for fossil fuel projects worldwide.
• Use World Bank lending to accelerate a just transition to clean energy in the Global South and beyond.
• Ensure Global South nations have access to the fair credit they need to build healthy and resilient net-zero economies.

Credit: Climate Reality.