‘Oust World Bank boss’

A total of 77 groups have sent a letter to governors and executive directors of the World Bank calling for president David Malpass to be replaced for failing to take adequate action on climate change. Since the Paris Agreement in 2015, the World Bank has provided $12-billion in direct project finance to fossil fuels, more than any other multilateral development bank, according to the groups. The figure does not include billions more in support of fossil fuels through policy based lending and financial intermediaries, say the signatories. “The World Bank has a long history of brushing up its green credentials and putting itself at the centre of climate finance while supporting the expansion of fossil fuel extraction and use,” says David Hallowes, South African researcher for groundwork and the Life After Coal campaign.