The World Bank recently released a report warning that, at current rates of carbon emissions, Earth is on track for a 4 degree centigrade rise by 2100. The report projects catastrophic environmental consequences—hitting poor communities the hardest—if we don't scale back on fossil fuels. Yet, as Daphne Wysham, a fellow at the Institute for Policy Studies and co-director of the Sustainable Energy and Economy Network, wrote for [1] The Nation, the bank itself hasn’t made the committment to averting disaster. On Al Jazeera’s Inside Story Americas, Wysham points out that the World Bank is still investing a significant portion of its portfolio in fossil fuel projects. That won’t be enough, Wysham says: “Just stop funding the dirty stuff.”
—Steven Hsieh
Read Daphne Wysham's piece on "Why the World Bank Must Divest from Fossil Fuels." [1]