Financing a Just Transition
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Financing a Just Transition
Few sectors have the power to speed a just energy transition worldwide – or hit the brakes – like global finance.
For decades, the global financial system has pumped billions into oil, gas, and coal projects across the planet, fueling climate devastation and trapping Global South nations pummeled by heatwaves, storms, and floods in endless cycles of borrowing and debt.
Meanwhile, the wealthy countries responsible for the majority of global emissions promise billions in support – and rarely deliver.
It's time to do better. We work to reform global finance to spur rapid energy transition across the planet and get developing nations the fair credit and funding they need to adapt to a warmer world and build thriving clean energy economies.
How We Get There
Massive Public and Private Investment in Clean Energy
With the climate crisis accelerating, the World Bank, other multilateral development banks, and private investors must rapidly redirect all financing from fossil fuel projects to clean energy initiatives in the Global South.
Fair and Accessible Credit for Global South Nations
Developing economies need access to the same opportunities and fair credit terms wealthy nations enjoy to harness their human and natural potential and build thriving clean energy economies.
Full Funding for Adaptation and Loss and Damage
Wealthy countries must face up to their historical responsibility for global warming emissions and provide developing nations with vital and long-promised financial support to help them rebuild after disasters and adapt to the realities of a warmer world.
LEARN MORE AND GET INVOLVED
Take Action Now
Ajay Banga, in his first year as World Bank president, has made meaningful progress on climate finance. But there’s still more work to do.
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