The World Bank

World Bank bans oil funding

The World Bank has announced it will not fund upstream oil and gas projects from 2019 onwards, as a mean to save the world from disasters of climate change

An estimated 1.1 billion people making 14% of the global population do not have access to electricity according to the International Energy Agency.

Speaking at the World Bank meeting in Bali, the World Bank president Jim Yong Kim said world leaders must start listening to the social justice arguments from people from poor countries who have not put any of the carbon in the air but suffering the consequences.

He said that many African are grappling with climate change behaviors mainly emanating from environmental unfriendly sources, and thus countries must adopt clean energy.


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