Signaling more independence from the US, the World Bank phases out its support for fossil fuels
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January 18, 2018
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.)
(THE CONVERSATION) The World Bank, which provides developing countries about US$60 billion a year in financial assistance, is officially phasing out its support for the oil and gas industries.
This move brings its actions more in sync with its overarching commitment to slowing the pace of climate change and keeping the Paris agreement on track. Based on my research regarding international relations, I see this move – which World Bank President Jim Yong Kim announced in December – a...
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