World Bank: billions for fossil fuels?

The World Bank has set out to become climate-friendly. However, last year, one of its subsidiaries provided around 3.7 billion US dollars to support international oil and gas deals. This is the finding of a recent report by the environmental organization urgewald. However, the figure is an estimate – because most of the funding, 70 percent, „is given out in secrecy.“ Urgewald criticizes the lack of transparency: not even the bank’s shareholders, i.e., the governments, are aware of where the funds are going. The public, however, has a right to know, demands urgewald.