World Bank Group’s New Climate Change Action Plan Fails To End Financial Flows To Fossil Fuels
WASHINGTON, D.C. — Today, the World Bank Group released its new Climate Change Action Plan 2021-2025, which sets target timelines to align its operations with the Paris Agreement, and sets targets to increase climate finance. The plan also commits to support countries on a just transition away from coal and to reduce emissions across sectors. Q1 2021 hedge fund letters, conferences and more The Bank’s first Climate Change Action Plan in 2016 laid out actions to expand climate investments in developing countries, but did not commit the Bank to eliminate fossil fuels from its portfolio. The Worl...