Albanese government urged to push international banks to stop funding fossil fuel development
by Graham Readfearn from on (#6C0AH)
Exclusive: Report claims Australia's shareholdings in development banks has made it responsible for investing $828m in fossil fuel projects over five years
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Australia's shareholdings in three international banks - including the World Bank - has seen it responsible for investing $828m in fossil fuel projects between 2016 and 2021, according to a research report.
The World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank have collectively pumped $32.85bn into fossil fuel projects - almost entirely linked to oil and gas production or power generation - over the same period, the report says.
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