Article 3AG1E World Bank to end financial support for oil and gas extraction

World Bank to end financial support for oil and gas extraction

by
Larry Elliott Economics editor
from Economics | The Guardian on (#3AG1E)

Bank announces in Paris it 'will no longer finance upstream oil and gas' after 2019 in response to threat posed by climate change

The World Bank will end its financial support for oil and gas extraction within the next two years in response to the growing threat posed by climate change.

In a statement that delighted campaigners opposed to fossil fuels, the Bank used a conference in Paris to announce that it "will no longer finance upstream oil and gas" after 2019.

Related: Insurance giant Axa dumps investments in tar sands pipelines

Related: Banks should disclose lending to companies with carbon-related risks, says report

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title Economics | The Guardian
Feed Link https://www.theguardian.com/business/economics
Feed Copyright Guardian News & Media Limited or its affiliated companies. All rights reserved. 2024
Reply 0 comments