The Big Shift: Urging Public Finance Institutions to stop funding fossil fuels
Multilateral development banks, like the World Bank and African Development Bank, manage and invest huge amounts of public money in development projects. We need them to get all their money out of dirty fossil fuels and into affordable renewable energy to reach and benefit even the most vulnerable and remote communities.
About the campaign
The African Climate Reality Project is a member of the Big Shift Global, a multi-stakeholder, global campaign coordinated by organisations from the Global North and South. Together, we aim to make the people’s views on energy finance known to Multilateral Development Banks (MDBs), their Executive Directors, as well as the Heads of State and Finance Ministers of the members countries. Leveraging public opinion is crucial to aligning decisions made by the MDBs with long-term climate safety and poverty goals – this inevitably involves a shift away from financing any form of fossil fuels to financing clean, sustainable, renewable energy for all.
The first phase of this campaign is focusing on the World Bank to make their commitment to 1.5C and SDGs clear at their Annual Meetings in October 2017. The campaign will engage the regional development banks in 2018 through 2020 urging them to go 100% RE by or before 2020. In 2017, some of our campaign milestones are: Oct 13-15 – World Bank Annual Meetings, Nov 6-17 – UN Climate Talks and Dec 12 – 2nd anniversary of Paris Agreement.
ACRP supports the initiative, together with other organisations around the world: 11.11.11, 350.org, Abibiman Foundation, Africa Coalition for Sustainable Energy & Access (ACSEA), African Climate Reality Project, Asia Climate Change Consortium (ACCC), Bank Information Center (BIC), Both Ends, The Bretton Woods Project, CEDLA, Centro Humboldt, Climate Action Network (CAN), Christian Aid, Church World Service (CWS), E3G, Fossil Free South Africa, Global Catholic Climate Movement, Grupo de Financiamiento Climático para América Latina y el Caribe (GFLAC), GreenFaith, Inspiraction Spain, Inspiraction USA, Oil Change International, Overseas Development Institute (ODI) – research partner, the Natural Resources Defense Council, Pan African Climate Justice Alliance (PACJA), Reclaim Power, Season of Creation, Swedish Society for Nature Conservation, The Energy Mix, Vasudha Foundation and Urgewald.