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Blog 17.09.20 Who will be the next president of the EBRD? (And why Big Shift Global members care)

The decision about who will be the next candidate of the EBRD is due in October.

Whoever becomes president of the EBRD must lead the bank quickly and decisively to act on climate change and energy access for all.

There are three candidates in the running for the Presidency of the EBRD: Odile Renaud-Basso of France, Pier Carlo Padoan of Italy and Tadeusz Kościński of Poland. We want to hear from the candidates about how they will lead the bank on climate and energy access.

2 month countdown to Finance in Common summit

September marks two months until the Finance in Common Summit - the first ever meeting of all 450 public development banks. Development banks that hold $11.2 trillion in public assets. With huge amounts of public money being spent as a result of the COVID-19 crisis, decisions made now, including during the summit, about how to use these funds must include the acceleration of a sustainable, just recovery.

Blog 21.08.20: Climate Change Commitments and World Bank Group investments in Argentina: Are investments aligned with Climate change commitments?

The World Bank Group (WBG) recognizes climate change as a threat to global development that increases instability and contributes to poverty, fragility, and migration. In response to this challenge, in 2016 the WBG launched the Climate Change Action Plan (CCAP), which established general objectives for 2020 to create policies that strengthen resilience to the impacts of the climate change and the promote decarbonization, while alleviating poverty.

After analyzing the commitments made in the CCAP and the Bank’s investments in Argentina, and considering the active projects (although some date from prior to the CCAP), we observed that the value of direct investments destined for fossil fuels was 88 percent higher than for renewable energies, totaling US$ 541 million in investments in fossils, while only US$287 million went to renewable energies.

African CSOs call for ambitious targets and increased investment in energy access by the World Bank Group

African CSOs, led by Big Shift Global member, ACSEA have sent a letter to the World Bank welcoming the Banks's new LEAP energy proposal but calling for more ambitious targets,  increased investment in energy access and greater consultation with those it will impact.  

The letter sent to World Bank directors highlights that in order to also address COVID19 recovery the LEAP energy proposal must address energy access for the 1 in 2 people without electricity and the 890 million people without clean cooking in Africa. Increased energy access is vital to reduce the health impacts of air pollution from polluting fuels, as well as promoting renewable energy to generate jobs and secure livelihoods in the recovery from the crisis.

The letter calls for increased investment in sustainable renewable energy including off-grid and mini-grid renewable energy and the need to accelerate progress on clean cooking.  It also states that the strategy must have stakeholder buy in and that people impacted by energy projects and African civil society who understand the needs of energy consumers must be consulted.

 

 

Blog 24.06.20 The World Bank is Failing Nigeria on Climate Goals and Energy Access

Anna Östergren of SSNC and Nezir Sinani of Recourse have published a blog summarising the findings of their latest report, written with ACSEA, on the World Bank's energy and climate performance in Nigeria.

In Nigeria, 24 percent of the population or about 41 million people live in areas of high climate risks from storm surges, coastal and inland flooding, wildfires and drought. A rapid transformation of the energy sector, from fossil fuels to renewable energy, is needed to combat climate change and also to increase energy access. Despite Nigeria’s vast potential for renewable energy,the WBG prioritises fossil fuels over renewable energy. 

 

 

The MDBs and a Just, Paris-aligned Recovery - If you missed the Big Shift webinar catch up here!

A Paris-aligned and just recovery to Covid-19 by the Multilateral Development Banks (MDBs) is a vital part of the global response. On 28th May, members of  the Big Shift Global Coalition organised a webinar to discuss this further with 4 panellists: Bronwen Tucker, OCI; Dileimy Orozco, E3G; Augustine Njamnshi, ACSEA and Andrew Scott, ODI, moderated by Vibeka Mair of Responsible Investor.

Panellists presented views on: MDBs’ track records in energy financing;  recovery packages so far; what a Paris-aligned, just recovery should look like; why this should not include investment in oil and gas and specifically what this should look like in the case of Africa.

 

Africa Day 2020 - An open letter calling on the AfDB to stop funding fossil fuels

Africa Day is on 25 May. Big Shift Global member, the African Climate Reality Project has a tradition of using this day to amplify the call for a fossil free, low-carbon, and climate resilient future for the continent.

They have published an open letter calling on the African Development Bank to stop funding fossil fuels and shift to 100% renewables.

 

U.S. Faith-Based Coalition Calls on World Bank to Take Climate Action in the Time of COVID

A coalition of faith-based organisations in the United States have launched a campaign  in support of Big Shift,  calling on the World Bank to end all support for fossil fuels and shift investment to renewable energy access in the time of COVID-19 and beyond.

 

Blog 13.05.20 - COVID-19 Recovery and Renewable Energy in Africa

Eugene N Nforngwa, Thematic Lead for Just Transition and Energy Access at the Pan-African Climate and Environmental Justice Alliance (PACJA) and Programmes Advisor at the Africa Coalition for Sustainable Energy and Access (ACSEA) presents why renewable energy and just recovery are vital in the Covid-19 recovery planning process in Africa

Blog 17.04.2020 - A Time to Change

Andrew Schwartz, Deputy Director at Center for Earth Ethics outlines how the response to the coronavirus crisis must increase resilience and minimise climate change by shifting funding from fossil fuels to renewable energy.

World Bank Directors urged to intervene in Guyana’s oil development over conflict of interest

Shortly before the World Bank holds its digital Spring Meeting, the NGO Urgewald and partner civil society organizations have sent a letter to Executive Directors to express concerns with the bank’s involvement in Guyana’s oil & gas development.

Blog: 14.04.2020 - Multilateral Development Banks must implement a sustainable recovery from Covid-19

The global response to the coronavirus crisis continues to gather pace and emergency responses supporting health services and economies are vital at this stage for many across the globe. Just like the Covid-19 crisis, the impacts of climate change will be felt more acutely by the poorest and most vulnerable people. It is vital that the stimulus packages supported by MDBs address this and respond to both crises.

MDBs fail to deliver on joint Paris Alignment promise at COP25

At COP25 in Madrid, Spain the nine multilateral development banks (MDBs) provided a public update on their joint commitment to Paris Alignment. Though the group of banks first committed to a process to align their financial flows with a 1.5°C pathway in 2017, yesterday's announcement provided few new details. 

Big Shift coalition open letter to the leaders of the MDBs

As COP25 in Madrid begins, the Big Shift coalition calls on the Multilateral Development Banks to align their finance with the 2015 Paris Agreement, increase their investments in renewable energy and stop financing fossil fuels and ensure they present a detailed approach and report on their progress. 

Press release: 18.10.2019

No more excuses: The World Bank must halt all funding for fossil fuels - civil society protests at World Bank annual meetings

Civil Society Letter to World Bank group

Nearly 100 civil society organisations who are planning protests outside this year's World Bank Annual Meetings have written a letter to the World Bank President and Executive Directors calling for greater action on climate change.