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World Bank to end financial support for oil and gas after 2019

by Futures Centre, Mar 1
1 minute read

The World Bank has announced that it will cease financial support for oil and gas extraction in response to the increasing threat of climate change. The Bank announced that it will “no longer finance upstream oil and gas” after 2019, although it will consider lending for projects in the poorest countries with the guarantee that the poor will benefit from the project, have access to energy, and the project does not conflict with commitments made in the 2015 Paris climate change accord.

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