The world’s biggest development banks agreed to funnel their financial support to businesses, promising to reduce greenhouse gas emissions. But they’ve given billions to big livestock and grain companies expanding greenhouse gas-intensive agricultural systems. The world’s top development banks—those supporting private-sector projects in developing countries—invested $4.6 billion between 2010 and 2021 in agriculture. The banks don’t require clients to report emissions from the entirety of their operations or their supply chains, including the most emissions-intensive parts or those connected to deforestation. Nor do they ask them to commit to absolute emissions reductions targets.
Climate Crisis Blog
