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German NGO Urgewald published a report showing that the World Bank Group has invested over $12 billion in fossil fuels since the Paris Agreement, $10.5 billion of which were new direct fossil fuel project finance.
“In order to arrest the escalating climate crisis, the world needs an urgent and just transition from fossil fuels to renewable energy. Data shows that the energy transition is happening far too slowly,” the report reads.
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German NGO Urgewald published a report showing that the World Bank Group has invested over $12 billion in fossil fuels since the Paris Agreement, $10.5 billion of which were new direct fossil fuel project finance.
“In order to arrest the escalating climate crisis, the world needs an urgent and just transition from fossil fuels to renewable energy. Data shows that the energy transition is happening far too slowly,” the report reads.
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