Last week, we sent you a message about the World Bank and its soon-to-be new President, Ajay Banga. That message is so important that we’re sending it again, to ensure you don’t miss it. Here’s why:
The risk of a global recession increases every day, with emerging and developing countries expected to bear the greatest burden. On top of dealing with the recession, developing countries are the most impacted by the climate crisis.
Some of the key measures that these countries could implement to improve their long-term growth are centered around climate resilience. With the right funding, these countries can create infrastructure that protects them against climate change.
As one of the most powerful financial institutions in the world, the World Bank has the potential to grant this funding and promote just climate solutions – but first, Ajay Banga needs to take steps to reform the institution and fund a just transition.
– Team 350
Hi John,
One of the most powerful financial institutions, the World Bank, is getting a new President. This is an opportunity we cannot miss – here’s why:
The new President for the World Bank, Ajay Banga, was nominated by President Joe Biden and will be taking office in July once all the countries vote him in.
This is a critical moment to ensure that the new President at the World Bank will invest in real, just climate solutions. Investing in climate solutions needs to be the first priority when Ajay Banga takes office, and this is where you come in.
In the past, the World Bank has funded mega projects that destroy nature and people’s homes1, and poured about $14.8 billion into fossil fuel projects and policies that cause the climate breakdown, since the landmark Paris Climate Agreement in 2015.2
But with the new President, this could all change. We need an internal champion in the World Bank, and the Bank’s President has the power to fund just climate solutions across the globe.
Before Banga takes office, he’s vulnerable to public pressure. This is why we have to make our demands as loud as possible now:
The World Bank has enough money and power to help lift people up from poverty, and fight the climate crisis by supporting the urgent just transition to renewable energy – but only if Banga takes our demands seriously and reforms the institution.
John, please sign your name under these urgent demands.
This is only the first step in our new campaign to get the World Bank to play the role of a champion of climate solutions across the world. Take action today to make this first push a success!
Thank you so much for being part of this fight,
Deborah Wong for 350.org
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PO Box 843004, Boston, MA 02284-3004
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350.org is a global movement that fights for a just and equitable world by stopping the fossil fuel industry from continuing to destroy our climate.