Banks around world in joint pledge on ‘green recovery’ after Covid

Posted by on November 11, 2020 5:00 pm
Categories: Global Stories

Climate finance goals declared but campaigners highlight omissions over fossil fuels and poor nations’ support

The world’s publicly financed development banks have pledged to tie together their efforts to rescue the global economy from the Covid-19 crisis and the climate emergency, using their financial muscle to assist a green recovery for poor countries.

But the banks stopped short of pledging an end to fossil fuel finance, and did not set out firm targets for how much funding they would devote to a green recovery in a declaration signed on Thursday by 450 development banks worldwide.

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