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 updatesGet 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.
About Author
More Stories
Project to build German EV microchip factory put on hold
Putin calls for alternative international payment system at Brics summit
Sydney restaurateur Alan Yazbek pleads guilty after displaying Nazi symbol at pro-Palestine rally