Prime

World Bank to stop financing oil, gas projects from 2019

A conference attendee looking at a projection of the Earth on the opening day of the COP 21 United Nations conference on climate change on November 30, 2015 in Paris. AFP PHOTO | ALAIN JOCARD

By  AFP

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 clean 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.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.

Get it First!

Stay up to date on the editors' picks of the week.

Latest

  1. PRIME Businesses add 72,800 kW of solar power for own use

  2. PRIME Rising costs choke firms despite growing demand

  3. PRIME Small banks make loans expensive on costly funds

  4. PRIME Sweet potatoes move from farm into the living room

In the headlines

View All