IFC Archives - Page 2 of 11 - Centre for Financial Accountability

Gujarat: 174 Civil Society Outfits Urge World Bank to Reject Loan for Harmful Waste-to-Energy Projects

A coalition of 174 civil society organisations, networks, and activists has written to the World Bank’s board of directo...

Coverage WTE(Waste to Energy)

Article

A letter to the EDs of the IFC regarding the potential harms of investing in the WTE projects in Gujarat

Abellon Clean Energy Limited (ACEL) is a Waste to Energy (WTE) developer based out of Gujarat in India, who is developin...

Article

Story Of Kamalanga Project is the Story of Weak Accountability Mechanisms

Thirteen years after communities from Odisha’s Dhenkanal district filed a complaint at the International Finance Corpora...

General International Finance

Article

Bye bye reform and human rights, welcome private sector. Unfortunately we will be back!

In another week, on June 2, Ajay Banga will take over as the 14th president of the World Bank Group, the all-men’s club,...

Coverage

Article

Submission made by Indian groups and concerned citizens on the proposed IFC/MIGA Approach to Remedial Action

Express disappointment over the proposed approach paper which is not only narrow in its approach but it does not deliver...

International Finance Statements

Article

Paris aligned?

The International Finance Corporation’s financial intermediary investments, fossil fuels and the climate crisis The Wor...

International Finance International Finance Institutions Publications

Article

World Bank’s private sector arm to stop supporting new coal

The International Finance Corporation (IFC), the private sector arm of the World Bank, is to stop supporting new coal pr...

Coverage

Article

IFC to stop funding new coal-powered electricity projects

The IFC has reportedly lent close to $5 billion to almost 88 financial institutions in India. The International Finance ...

Coverage

Article

IFC will no longer allow financial intermediary clients to support new coal projects

An extension of the coal reduction policy to all lending will act as a strong impetus for Indian financial institutions ...

Coverage

Article

IFC announces it will stop clients funding new coal projects

▪︎ Previous policy allowed the IFC’s financial clients to support new coal projects as long as they exited coal by 2030,...

General Latest Press Releases

« Previous

September 23, 2024

The Wire

Gujarat: 174 Civil Society Outfits Urge World Bank to Reject Loan for Harmful Waste-to-Energy Projects

A coalition of 174 civil society organisations, networks, and activists has written to the World Bank’s board of directors, urging them to reject funding for four waste-to-energy (WTE) incineration projects proposed by Abellon Clean Energy Limited (ACEL) in Rajkot, Vadodara, Ahmedabad, and Jamnagar ...

Coverage WTE(Waste to Energy)

Article

July 7, 2024

CFA Admin

A letter to the EDs of the IFC regarding the potential harms of investing in the WTE projects in Gujarat

Abellon Clean Energy Limited (ACEL) is a Waste to Energy (WTE) developer based out of Gujarat in India, who is developing 4 WTE plants in Rajkot, Vadodara, Ahmedabad and Jamnagar of cumulative capacity 52.20 MW as of 2023. Of these four projects, the project in Jamnagar with a capacity to produce 7....

General Statements WTE(Waste to Energy)

Article

June 26, 2024

Joe Athialy

Story Of Kamalanga Project is the Story of Weak Accountability Mechanisms

Thirteen years after communities from Odisha’s Dhenkanal district filed a complaint at the International Finance Corporation’s (IFC) accountability mechanism, the Compliance Advisor Ombudsman (CAO) against IFC’s lending to GMR Kamalanga Energy Limited (GKEL), the case is now closed, despite CAO repo...

General International Finance

Article

June 2, 2023

Joe Athialy

Bye bye reform and human rights, welcome private sector. Unfortunately we will be back!

In another week, on June 2, Ajay Banga will take over as the 14th president of the World Bank Group, the all-men’s club, except for Kristalina Georgieva, who had become World Bank’s acting president briefly for a few weeks in 2019. Banga’s nomination (not democratically elected) by the US administra...

Coverage

Article

April 24, 2023

CFA Admin

Submission made by Indian groups and concerned citizens on the proposed IFC/MIGA Approach to Remedial Action

Express disappointment over the proposed approach paper which is not only narrow in its approach but it does not deliver remotely on remedy or even reflect IFC’s and MIGA’s intent for accountability. The International Finance Corporation, the private sector arm of the World Bank, released a new draf...

International Finance Statements

Article

April 14, 2023

Daniel Willis Marjorie Pamintuan and Kate Geary

Paris aligned?

The International Finance Corporation’s financial intermediary investments, fossil fuels and the climate crisis The World Bank’s private sector arm, the International Finance Corporation (IFC), plays a significant role in influencing private financial flows. As the “largest global development insti...

International Finance International Finance Institutions Publications

Article

April 6, 2023

Isabella Kaminski

World Bank’s private sector arm to stop supporting new coal

The International Finance Corporation (IFC), the private sector arm of the World Bank, is to stop supporting new coal projects, a move described by campaigners as welcome but long overdue. An update to the organisation’s ‘green equity approach’ policy, which is aimed at intermediary clients such as ...

Coverage

Article

April 6, 2023

JACOB KOSHY

IFC to stop funding new coal-powered electricity projects

The IFC has reportedly lent close to $5 billion to almost 88 financial institutions in India. The International Finance Corporation (IFC), the private sector arm of The World Bank, has said it will not support investments in new coal projects. The IFC funds banks and other financial institutions tha...

Coverage

Article

April 6, 2023

Esha Roy

IFC will no longer allow financial intermediary clients to support new coal projects

An extension of the coal reduction policy to all lending will act as a strong impetus for Indian financial institutions to strengthen their own policies on coal reduction. The International Finance Corporation (IFC) – the World Bank’s private sector arm – has issued an update to its Green Equity App...

Coverage

Article

April 5, 2023

CFA Admin

IFC announces it will stop clients funding new coal projects

▪︎ Previous policy allowed the IFC’s financial clients to support new coal projects as long as they exited coal by 2030, but the new update explicitly rules out new coal. ▪︎This loophole previously meant that IFC clients have supported new coal developments, including the huge Java 9 & 10 coal ...

General Latest Press Releases

Article

« Previous

Categories

IFC

Gujarat: 174 Civil Society Outfits Urge World Bank to Reject Loan for Harmful Waste-to-Energy Projects

A letter to the EDs of the IFC regarding the potential harms of investing in the WTE projects in Gujarat

Story Of Kamalanga Project is the Story of Weak Accountability Mechanisms

Bye bye reform and human rights, welcome private sector. Unfortunately we will be back!

Submission made by Indian groups and concerned citizens on the proposed IFC/MIGA Approach to Remedial Action

Paris aligned?

World Bank’s private sector arm to stop supporting new coal

IFC to stop funding new coal-powered electricity projects

IFC will no longer allow financial intermediary clients to support new coal projects

IFC announces it will stop clients funding new coal projects

Gujarat: 174 Civil Society Outfits Urge World Bank to Reject Loan for Harmful Waste-to-Energy Projects

A letter to the EDs of the IFC regarding the potential harms of investing in the WTE projects in Gujarat

Story Of Kamalanga Project is the Story of Weak Accountability Mechanisms

Bye bye reform and human rights, welcome private sector. Unfortunately we will be back!

Submission made by Indian groups and concerned citizens on the proposed IFC/MIGA Approach to Remedial Action

Paris aligned?

World Bank’s private sector arm to stop supporting new coal

IFC to stop funding new coal-powered electricity projects

IFC will no longer allow financial intermediary clients to support new coal projects

IFC announces it will stop clients funding new coal projects