Illustration Entwicklungsbanken
World Bank & Co.

How banks endanger people & the environment with their projects

They are called the World Bank, the Asian Development Bank, the African Development Bank or the Asian Infrastructure Investment Bank. These multilateral development banks work on behalf of states. Germany is one of the most important shareholders. Time and again, many of the projects worth billions disregard human rights, destroy the environment and harm the climate. Together with our partners, we want to change this.

The World Bank in Guyana - Documentary

Carbon Bomb

Off the coast of Guyana and Suriname lies one of the largest crude oil discoveries in recent history: 13.6 billion barrels of oil and 960 billion cubic meters of natural gas lie dormant in the deep sea. ExxonMobil is the leading company in this massive oil production program. The company benefits from the fact that Guyana has received substantial budgetary and technical support from the World Bank to develop an oil sector. Together, "Big Oil" and the World Bank Group risk making Guyana the latest victim of the oil curse while further fueling the global climate crisis. Yet the country's existence is already massively threatened by rising seas. This is because the main settlement and arable areas lie two meters below the water level. Read more in this travel report:

Everything the World Bank is currently doing is to prepare the ground for investors and other financially powerful people in this world.

Urgewald Campaigner Knud Vöcking

I have learned in my 20 years of observing the World Bank that it leaves such large loopholes in its promises that you could drive a truck through it.

Heike Mainhardt, Senior Adviser at Urgewald

This is how Germany participates in multilateral banks (invested capital and voting share)

Map Germany and Multilateral Banks

 

Press Release

Civil society organisations react to World Bank Climate Change Action Plan’s failure to end finance for fossil fuels

Today, the World Bank Group released its new Climate Change Action Plan (CCAP) for 2021-2025.

The CCAP represents a colossal failure to end the Bank’s long-standing support for fossil fuels.

The Bank has also rejected requests from civil society and World Bank shareholders for a public consultation on a full draft of the plan. The World Bank’s press release notes the Bank, “will regularly update its Board on the implementation of the Action Plan,” without providing further details of what aspects of the plan it will report on.

Kontakt

    Bild Anprechpartner   Knud Vöcking

    Knud Vöcking
    Campaigns on Multilateral Development Banks
    knud [at] urgewald.org
    +49 (0)2583/30492-14

    Bild Anprechpartner   Ute Koczy

    Ute Koczy
    Campaigns and Multilateral Development Banks – main focus on World Bank
    ute.koczy [at] urgewald.org
    +49 (0)2583/30492-0

    Bild Anprechpartner   Heike Mainhardt

    Heike Mainhardt
    Senior Advisor for Multilateral Bank Campaigns
    heike.mainhardt [at] urgewald.org

→  Unser Team

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