HIDDEN CASH FOR FOSSILS (2023)
This report highlights how, in the five years after the Paris Agreement, the World Bank, Asian Development Bank and Asian Infrastructure Investment Bank together provided over AU$32.85 billion to fossil fuel projects. Australia is also a shareholder in the MDBs and is the fifth largest shareholder in the Asian Development Bank (ADB) and sixth largest shareholder in the Asian Infrastructure Investment Bank (AIIB). Australia’s shareholdings give it leverage to influence decisions at these banks. The report calls on Australia to influence MDBs to shift their lending toward Paris alignment by developing and implementing strong and transparent policies on overseas fossil fuel financing.