“Development banks make landmark climate pledge, but no fossil fuel phase out” – Reuters – November 10, 2020

On November 10, 2020 Reuters reported that “(t)he world’s public development banks on Wednesday pledged to align their financial firepower with the Paris Agreement on climate change, but avoided a firm commitment to phase out fossil fuel financing.

At a green finance summit organised by the French government, the world’s 450 public development banks said they would ‘increase the pace and coverage’ of investment in renewable energy, energy efficiency and clean technologies.

However, the group stopped short of pledging to phase out fossil fuel investments, a step announced last week by a smaller group of European development banks, while the Asian Development Bank (ADB) refrained from signing the declaration.”

You may read the article on the Reuters internet site.