World Bank is backing dozens of new coal projects, despite climate pledges
The International Finance Corporation (IFC), the private lending arm of the World Bank Group, is indirectly backing dozens of new coal projects throughout Asia, according to a new report, Blowing Smoke: How Coal Finance is Flowing through the IFC’s Paris Alignment Loopholes. The report, based on research conducted by Inclusive Development International, Recourse and Trend […]
World Bank under fire for backing toxic and unnecessary Java 9 & 10 coal project in Indonesia
Photo by Farddi Bonco, Trend Asia To read this release in Bahasa Indonesia, click here. (Banten Province, Indonesia – September 14, 2023) Communities in Indonesia’s Banten Province have lodged a complaint against the World Bank Group for indirectly backing the development of two massive new coal-fired power plants, which expand an existing complex of eight […]
Watchdog Slams World Bank Group for Helping Bankroll Philippines Coal Boom
MANILA, Philippines – The World Bank Group’s private lending arm, the International Finance Corporation (IFC), violated its own environmental and social protection policies as it helped bankroll a disastrous coal boom in the Philippines, according to an independent investigation made public today. In its report, the IFC’s internal watchdog, the Compliance Advisor Ombudsman (CAO), calls […]