WB approves $1.5 bn for green hydrogen push in India

The World Bank has approved the second round of $1.5 billion loan to help India push its low-carbon energy development. The funds will help promote the development of a vibrant market for green hydrogen, continue to scale up renewable energy, and stimulate finance for low-carbon energy investments. India is the fastest-growing large economy in the

PNGRB, World Bank to draft a roadmap for hydrogen blending

The Petroleum and Natural Gas Regulatory Board (PNGRB) and the World Bank have joined forces to develop a comprehensive roadmap for integrating hydrogen blending in natural gas and establishing the infrastructure for their transmission through gas pipelines in the country. The primary objective of the study is to develop a comprehensive roadmap for the rapid

USD 1 bn tripartite funding to speed up India’s drive to net zero emissions

The Government of India’s collaboration with the World Bank, the Asian Development Bank (ADB), and SIDBI to foster zero-emission mobility is set to revolutionize the last mile transportation sector. With the upfront FAME cash subsidy being rationalized, the USD 1 billion tripartite partnership aims to provide affordable financing rates, propelling the adoption of electric vehicles

WB approves financing for low carbon energy sector

The financing will help India promote low-carbon energy by scaling up renewable energy, developing green hydrogen and stimulating climate finance for low-carbon energy investments, the bank said in a statement.

Subsidies worsening climate change, says World Bank

The World Bank has called on countries to use the money they spend on subsidising fossil fuels, agriculture, and fisheries to fight climate change instead

World Bank approves funding for Brazil to meet climate goals

The World Bank´s board of directors approved a $500 million project in Brazil to expand sustainability-linked finance and strengthen the private sector’s capacity to access carbon credit markets and help the country curb deforestation. Sustainability-linked financing (SLF) allows for lower financing costs when certain environmental, social and governance (ESG) requirements are met by a company

WB invested nearly $15 billion in fossil fuel projects

In December 2018, the World Bank made a public commitment: The international financial institution, known for providing funding and policy advice to developing countries, would align its spending more closely with the goals of the 2015 Paris Climate Accord. But that promise didn’t exactly pan out. According to a new report, the World Bank Group