7 years ago
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World Bank to stop funding oil, gas projects from 2019
The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to cleaner energy. "The World Bank Group will no longer finance upstream oil and gas, after 2019," it said in a statement in Paris, where world leaders sought to unlock more money for the shift away from Earth-warming fossil fuels.
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Does this mean anything in the long run though? Won't they just dig into their reserves or find banks willing to back them, I'm not seeing any real significance to this... or I'm just not up on world finance...