Study: Development banks are backing clean energy, but are struggling to kick fossil fuel habit

clock • 3 min read

Analysis of investments made by nine of the world's biggest development banks has found that they spent four times more on clean energy than fossil fuels in 2020

Multilateral development banks (MDBs) such as the World Bank and European Bank for Reconstruction and Development provided $3bn of funding for fossil fuels through the course of 2020, according to new...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Investment

'Climate adaptation is a no-brainer': European Investment Bank launches €30bn adaptation investment drive

'Climate adaptation is a no-brainer': European Investment Bank launches €30bn adaptation investment drive

European Investment Bank (EIB) unveils plans to double investment in climate resilient infrastructure, agriculture, and technologies

clock 23 October 2026 • 2 min read
National Wealth Fund backs £135m funding round to reopen Cornish tin mine

National Wealth Fund backs £135m funding round to reopen Cornish tin mine

National Wealth Fund provides £41.7m cornerstone equity investment to Cornish Metals to support the reopening of the South Crofty tin mine in Cornwall

clock 22 October 2026 • 3 min read
Cornish Metals launches £135m funding round to reopen UK tin mine

Cornish Metals launches £135m funding round to reopen UK tin mine

Funds will be used to reopen 400-year-old tin mine in support of national critical minerals strategy

clock 21 October 2026 • 2 min read