Exclusive: Report claims Australia’s shareholdings in development banks has made it responsible for investing $828m in fossil fuel projects over five years
- Follow our Australia news live blog for the latest updates
- Get our morning and afternoon news emails, free app or daily news podcast
Australia’s shareholdings in three international banks – including the World Bank – has seen it responsible for investing $828m in fossil fuel projects between 2016 and 2021, according to a research report.
The World Bank, the Asian Development Bank and the Asian Infrastructure Investment Bank has collectively pumped $32.85bn into fossil fuel projects – almost entirely linked to oil and gas production or power generation – over the same period, the report says.
Continue reading...