
The organizations have signed a joint statement that argues that: “The climate change emergency requires action before it’s too late. The poorest are being hit hardest and hit now. The World Bank remains one of the main public financiers of fossil fuel development which contributes massively to global warming and is destined largely for Northern consumption and multinational profits. The Bank should immediately start a complete phase out of financing for fossil fuel operations and oil aid, and instead should significantly scale-up support for renewable energy and energy efficiency.”