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Projects that extract oil and gas will no longer receive funding from the World Bank after 2019. World Bank Group President Jim Yong Kim made the announcement at the One Planet Summit convened by President Emmanuel Macron of France and United Nations Secretary General Antonio Guterres. The bank said that it would only fund gas projects for the poorest countries in “exceptional circumstances”. To qualify for finance, such projects would still have to fit within each countries’ commitments to t...
19 12 2017
News article - 19 December 2017
Removing subsidies for fossil fuels such as coal, gas and oil would slash global carbon dioxide emissions within five years, according to a new report. The International Institute for Sustainable Development and the Nordic Council of Ministers looked at ending fossil fuel subsidies in 20 countries between now and 2020. They found that the move would cut emissions by 11%.Using 30% of the money saved by not offering subsidies and investing it in energy efficiency and renewable energy projects wo...
25 11 2015
News article - 25 November 2015