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Democrats Demand World Bank Strengthen Climate Commitments

Democratic Senators led by Edward Markey, Chair of the Environment and Public Works Subcommittee on Clean Air, Climate and Nuclear Safety, have called on the World Bank’s new leadership to “take climate action and financing efforts seriously”. Martin Heinrich and Elizabeth Warren joined Markey in demanding the organisation – following the departure of president David Malpass and its Board of Directors – address the “present losses and damages of the climate crisis on nations across the globe”. The senators issued questions including whether the World Bank will publicly commit to ending financing of all fossil fuel projects, through all channels, and clarification on how it currently engages with stakeholders on climate change. “There’s urgency now to bring new leadership to the World Bank that can make up for the missteps and lost time,” said Markey. “It could be a powerful part of the solution if it bolstered its climate commitments, stopped financing fossil fuels, and provided grants, below-market financing, and debt forgiveness to the countries burdened by climate impacts.” 

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