The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tu

[thackney]

The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to cleaner energy.
http://www.france24.com/en/20171212-world-bank-stop-funding-oil-gas-projects-2019-climate

The World Bank will stop financing oil and gas exploration and extraction from 2019, it announced Tuesday at a climate summit seeking to boost the global economy's shift to cleaner energy.

"The World Bank Group will no longer finance upstream oil and gas, after 2019," it said in a statement in Paris, where world leaders sought to unlock more money for the shift away from Earth-warming fossil fuels.

The move, it said, was meant to help countries meet the greenhouse gas-curbing pledges they had made in support of the 2015 Paris Agreement to limit global warming.

"In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments," the statement said.

The bank also announced it was "on track to meet its target of 28 percent of its lending going to climate action by 2020."

The World Bank's mandate is to provide finance and other assistance to aid the economic advancement of developing countries...

[Frank Cannon]

"In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments,"

So they are not lending.......unless the do.

[thackney]

"In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments,"

So they are not lending.......unless the do.

Unless the kickbacks are sufficient, they will force developing countries to use more expensive energy sources?

[IsailedawayfromFR]

The globalists at work once again.  This has its intended effect of killing off more in the poorest of the 3rd world countries that can not afford to finance their own energy needs.

Instead, these countries will have to depend upon the large Russian and Chinese energy consortiums to finance their projects, with all the commensurate controls over the populace this entails.

[Smokin Joe]

"In exceptional circumstances, consideration will be given to financing upstream gas in the poorest countries where there is a clear benefit in terms of energy access for the poor and the project fits within the countries' Paris Agreement commitments,"

So they are not lending.......unless the do.

In short they will finance discoveries and development they can expect to foreclose on and fully own. Just a puppet away from energy, economic, and political control at that point.