Fossil gas is not a transition fuel.
For heavily indebted countries like Argentina, LNG infrastructure carries major economic risks.
#Gas expansion threatens delicate marine ecosystems in the San Matías Gulf, with knock-on impacts for local fishing and tourism livelihoods.
#GasIsNotGreen
"STOP FUNDING GAS" in white letters. Red flag graphic. "MIGA Capital Optimisation Guarantee for Standard Chartered Bank in Ghana, Zambia and Pakistan; Total $160m; Disclosed 23 October; Board approval date 13 November" in white letters. White Africa and Asia map graphic with small red flags on the three countries. Green and blue background.
🚨 RED FLAG: The World Bank's guarantee agency, MIGA, is considering a guarantee for Standard Chartered Bank subsidiaries in Pakistan, Zambia & Ghana.
Amounting to $160 million, the guarantee could fuel more fossil gas expansion and undermine climate goals.
Details🧵 #EndFossilFinance #GasIsNotGreen
Square graphic. Teal blue background, white text overlay. "Mission 300: Bank on renewable energy systems for secure jobs and stable economies". Small white Recourse logo in bottom right hand corner.
The World Bank Group's #Mission300 is about “turning on the switch for more Africans”
💡 How can it achieve this?
By supporting countries to leapfrog to renewable systems 🐸
100% renewable systems can ensure energy access, clean jobs, and long-term economic resilience
#WBGmeetings #GasIsNotGreen
Square graphic. Teal blue background, white text overlay. "World Bank: Fund people-centred renewables, not fossil fuels." Small white Recourse logo in bottom right hand corner.
It is high time the World Bank stopped funding #FossilGas — even via financial intermediaries and guarantees.
⚠️ Gas dependency worsens #debt and economic volatility, locks countries into decades of fossil infrastructure, and often fails to benefit local people.
#WBGmeetings #GasIsNotGreen
📔 Further reading at bit.ly/MIGA25
A short briefing about how MIGA guarantees work
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A research report examining the agency's guarantees since 1990, with case studies including 🇲🇿🇦🇷
#FossilGas #GasIsNotGreen #ClimateFinance
How to achieve a prosperous Africa? 📈🌍 #AfDBAM2025
Sustainable renewables offer the means to achieve energy security for African nations, transcending reliance on imported fossil fuels and volatile global gas & oil markets
Our message for the African Development Bank annual meeting: #GasIsNotGreen
