ECB official warns climate crisis poses growing threat to ‘core financial stability’ #Climate

ECB official warns climate crisis poses growing threat to ‘core financial stability’

Exclusive: As wildfires rage across Europe, Frank Elderson tells the Guardian nature loss poses a growing risk to the global economy

theguardian.com

Investing in a large-scale mining project in one of the world's most militarized areas, where people risk being disappeared if they speak out, is a recipe for disaster. Yet, the @eib.org is considering funding the #RekoDiq mine in #Balochistan, Pakistan. 👇Join us & call on #EIB not to fund RekoDiq!

The real impact of #SriLanka’s debt crisis is felt in the lives of women. One of the #IMF's deepest austerity programmes has gutted the country’s social safety net, leaving women like Edna unable to pay for medical bills following a workplace accident. 📽️ www.eurodad.org/debt_story_g...

The #RekoDiq mine in Balochistan is framed as a “sustainable development” project by its financiers. But Indigenous Baloch communities, who have lived and depended on the land for generations, were not properly consulted about it. When communities are excluded, “development” becomes dispossession.

MDBs claim record #ClimateFinance figures yet again, but questions remain over its quality and impact. “Bigger numbers alone will not deliver climate justice or build resilience where it is urgently," explains Mariana Paoli @oxfaminternational.bsky.social 🗞️ www.eco-business.com/news/mdbs-hi...

MDBs hit record $163bn in climate finance, but advocates question support for poorest countries

But civil society groups argued that the bigger totals do not automatically translate into support for adaptation, resilience, loss and damage that developing countries need.

eco-business.com

How can the IFC ensure a more socially and environmentally responsible approach to indirect finance? As the bank reviews its safeguards policy, it has a chance to raise the standards of its investments in financial intermediaries. Our recommendations: ifc-exposed.org/recommendati... #IFCexposed

The Reko Diq mine in #Balochistan (#Pakistan) is promoted as a critical project for clean energy supply chains but in a militarised region, who truly benefits? 🔴 Development banks backing this project are funding human rights violations. Join us & call on banks to #RethinkRekoDiq 👉 bit.ly/RekoDiq

Indigenous Baloch people face violent state repression & devastating impacts from the Reko Diq gold + copper mine in #Balochistan #Pakistan Under the slogan of "sustainability" development banks pour billions into this project Join our campaign: call on banks to #RethinkRekoDiq 👉 bit.ly/RekoDiq

The IEO report falls short of its own findings on austerity, climate policy and fossil fuel expansion under IMF programmes. Recourse is featured in the latest issue of the Bretton Woods Observer by @brettonwoodsproject.org. 📖 Read the latest issue: www.brettonwoodsproject.org/publications...

IMF policy should be guided by rigorous evidence rather than the political interests of its most influential member countries. Recourse is featured in the latest issue of the Bretton Woods Observer by @brettonwoodsproject.org. 📖 Read the latest issue: www.brettonwoodsproject.org/publications...

📢 The Summer 2026 Bretton Woods Observer is out Explore analysis of the World Bank & IMF's response to global economic shocks, the future of the Bank's climate agenda, sovereign debt reform through the Borrowers' Platform, critical minerals, accountability & more. 🔗 tinyurl.com/ObserverSumm...

Summer 2026

This issue features the BWIs response to conflict and debt, the extension of the World Bank’s Climate Change Action Plan and the merger of its accountability mechanism, the emergence of the Borrowers’...

tinyurl.com

Accountability in crisis at the World Bank Group? The Bank's Board recently overruled its own independent accountability mechanism (CAO), in an unprecedented move which allowed its private sector arm (IFC) to dodge accountability for the microfinance debt crisis it has contributed to in Cambodia. 🧵

Janine Ferretti's resignation follows a controversial ruling that civil society fears reflects a dark future for the bank's accountability commitments.

Watchdog head resigns after World Bank board rejects microfinance finding

Watchdog head resigns after World Bank board rejects microfinance finding

devex.com

Developing countries spend more repaying foreign debt than on education, UN reveals www.theguardian.com/global-devel...

Developing countries spend more repaying foreign debt than on education, UN reveals

Unesco report shows children lost out to servicing debt in 113 countries, with 18 spending five times more on loans

theguardian.com

The Reko Diq gold and copper mine in #Balochistan (#Pakistan) is a recipe for disaster. How can development banks @adb.org and IFC even consider backing it? This month we’ll highlight the risks and concerns as we call on the banks to #RethinkRekoDiq: bit.ly/RekoDiq @rightsindevt.bsky.social

The UN has called for human rights to be centred in mineral value chains The IFC, a major mining financier, must overhaul its standards to protect affected people in the race for minerals Natalie Bugalski @inclusivedevt.bsky.social explains the stakes: ifc-exposed.org/ifc-standard... #IFCexposed

#IFCexposed 🔍️ How can the IFC close policy gaps on reprisals in its Sustainability Framework review? The bank has made progress, but gaps remain that leave communities in fear of reprisal if they speak out. Katelyn Gallagher of @bankinfocenter.bsky.social explains: ifc-exposed.org/how-can-the-...

The World Bank Group's private sector arm, IFC, is currently reviewing its globally influential standards. This is a critical moment to call for stronger protections for people and the planet. Learn about IFC's impact and join the campaign: ifc-exposed.org #IFCexposed

Over the years, International Finance Corporation investments have left a troubling trail of harms and human rights abuses in their wake. The bank's safeguards have not always been strong or respected enough to protect communities. Read their stories on #IFCexposed 🔍️ ifc-exposed.org

Opaque financial intermediary lending can keep fossil fuel finance flowing despite the ADB's climate commitments. The latest #BankWatch from NGO Forum on ADB explores why greater transparency and stronger safeguards are needed. 📖 www.forum-adb.org/bankwatch

The latest #BankWatch by NGO Forum on ADB revisits Pakistan's #Jamshoro coal plant, drawing on Recourse's work to highlight why accountability for past harms must go hand in hand with a just transition. 📖 BankWatch: www.forum-adb.org/bankwatch 📄 More: www.re-course.org/news-and-upd...

International support for a Fossil Fuel Treaty to manage a just transition is stronger than ever before. ⚡️

World Bank: Keep climate on the agenda! Renewal of the World Bank's Climate Change Action Plan (CCAP) is under negotiation this week 90+ organisations signed a letter urging the Bank to keep its #climate commitments and #RenewTheCCAP Read it here: bigshiftglobal.org/CSOLetter_WB...

Just 12 banks accounted for nearly 40% of global fossil fuel financing in 2025. As communities bear the costs of climate breakdown, the #BankingOnClimateChaos report shows how a small number of banks continue to drive investment in fossil fuels. 📖 www.bankingonclimatechaos.org

Rainforest Action Network@ran.org · 2mo ago

In 2025, just 12 banks provided almost 40% of ALL fossil fuel funding from banks worldwide. That’s right, a dozen dirty banks are responsible for well over a third of the $906 billion poured into fossil fuels last year. See where your bank falls: bankingonclimatechaos.org #BankingOnClimateChaos

📢 "Lost in Translation": new blog out! Last month, the AfDB's Annual Meetings showed once again the wide gap between the Bank’s commitment to CSOs engagement and the realities of participation in practice. Read our key takeaways 👇 bit.ly/3QnbTDw

How can #Senegal pursue a just transition without deepening debt dependency? Hear insights from Khaita Sylla of ActionAid Senegal on the challenges and opportunities facing Senegal's development pathway. 📺 imf-climate.org/webinars/

With the World Bank’s climate plan set to expire, negotiations are intensifying over its future just as Europe, nuclear backers, and impact investors try to redraw the financing map.

Devex Invested: The World Bank’s climate finance target is on the chopping block

Devex Invested: The World Bank’s climate finance target is on the chopping block

devex.com

What do #IMF programmes mean for #Ecuador's climate and development future? Hear insights from Andrés Chiriboga of Observatorio de la Dolarización on how debt, extractive industries and economic reforms are shaping Ecuador's development pathway. 📺 imf-climate.org/webinars/

At the UNFCCC #SB64, governments must move from climate promises to real implementation of BAM, adaptation finance, and a fair transition away from fossil fuels. Read more on how these priorities can be delivered in our latest press release: climatenetwork.org/2026/06/05/b...

As one of the world's most climate-vulnerable countries, how is #Bangladesh navigating climate impacts alongside #IMF-backed reforms? Hear insights from Nahida Ommey in our latest webinar. 📺 imf-climate.org/webinars/