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As a first among the big conventional banks in Germany, Commerzbank not only commits to ending coal energy by 2030; it also lays down the first more serious exclusion criteria for oil and gas. To a large extent, we can count these developments as a victory for civic engagement. Nevertheless, Commerzbank still misses the chance to put its portfolio on a clear and steady 1.5 °C course today.

• Database reveals oil & gas companies with the largest expansion plans
• Planned oil & gas pipelines would reach halfway to the moon
• Finance industry pledges net zero, but continues backing reckless oil & gas expansion

In AIIB’s six years of operation, after 142 projects approved and over $28 billion invested, the PPM has yet to receive a single complaint. A new report released by Recourse and Urgewald examines the possible reasons for this.

Since the Paris Agreement, the World Bank has provided $12 billion in direct project finance to fossil fuels, more than any other multilateral development bank.

• World Bank-required tariff reforms made new coal investments in Pakistan the world’s most profitable 
• World Bank assistance linked to 7,000 MW of new coal-fired generation
• Urgewald calls for an end to all public assistance for fossil fuelshttps://urgewald.org/en/shop/world-bank-helps-develop-asias-largest-coa…

• 49% of the companies on 2021 GCEL still developing new coal assets
• Less than 5% of companies have announced a coal exit date