re-course.org
Recourse campaigns for a world where people and planet are at the heart of development.
We push international finance institutions to make their policies and practices more sustainable, accountable and socially just.
Find out more on www.re-course.org
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In Indonesia, the World Bank-financed Jatigede mega dam has displaced indigenous communities & animals
Small-scale, community-led hydropower plants are proving to be a relevant & sustainable solution instead
Read the case study 👉 bit.ly/BoR24 #BankOnRenewables #SB62 #JustTransition #Hydropower
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" #JustEnergyTransition isn't only about changing the source of energy, it is about moving from a centralised, extractive model to a democratic, #renewable model. We need to ask local communities what they need."
📣 Beyrra Triasdian, Trend Asia, at #JuneClimateMeetings #SB62
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🛑 Now is not the time to give up on multilateralism or climate action.
At the #FfD4 conference next week, and #COP30 in November, there are opportunities to make finance work for those who need it most.
🛑 There is no development in a 2 or 3 degree world.
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At #COP30 in #Belem, we need:
⭐️ a real discussion on how to escalate grant funding from rich countries to climate-vulnerable countries (Article 9.1 of the Paris Agreement)
⭐️ active consultation on how to reform the whole financial system to protect people & planet (Article 2.1c)
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What we need to hear is that #ClimateFinance will support a far phase out of fossil fuels and the shift to clean, sustainable renewables.
We need grants to build climate resiliency, especially for women, youth, farmers & indigenous peoples, and to repair climate #LossAndDamage.
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Multiply for what & who?
This past week in #Bonn #SB62, we've heard a lot about capital markets, green bonds, public-private blending, & #MDBs financing de-risking the private sector.
But can this approach deliver anything more than private profits for asset managers & hedge funds?!
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📌 Wednesday 24th, 4.30-5.45pm
SIDE EVENT
Experts and activists from Asia will look at the #EnergyTransition as an opportunity to address inequality and injustice
The event will focus on positive proposals for gender-just and human rights-based sustainable development
#SB62 #Bonn #GenderJustice
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Development finance institutions channel a huge amount of funding through these big commercial banks (e.g. 50% of the IFC's portfolio!)
They must do more to ensure that client banks are transparent, accountable and not funding fossils 🏭
More info: re-course.org/financial-in...
#BOCC #SB62 #MDBs
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🇮🇳 In Odisha, India, commercial banks are gearing up to support a new steel plant powered by 'captive #coal'.
Many multilateral development banks have still not ruled out funding for #CaptiveCoal, despite its clear climate impacts.
p34🔖 bankingonclimatechaos.org/banking-on-climate-chaos-2025-report
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🇲🇿 In Mozambique, the #LNG boom has damaged local livelihoods and ecosystems, causing conflict and climate impacts.
By facilitating commercial bank investments, the World Bank's guarantee arm, MIGA, is also responsible for harms.
p46 🔖 bankingonclimatechaos.org/banking-on-climate-chaos-2025-report/
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Negotiations on how to implement Article 2.1c of the Paris Agreement continue at the #SB62 #JuneClimateMeetings and then #COP30 later this year.
We urge policy makers to follow a justice-based approach.
Read the key recommendations here: bit.ly/art2-1c
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Fora like the #UNFCCC and #FfD — which are founded on principles of equity and justice — must be empowered to mandate and reform international financial institutions.
We need a financial system that puts people and the planet before the whims of private profit. ✊🌍
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🏦 The global financial architecture needs reform.
Institutions like the #IMF, #WorldBank, #G20, central banks & financial regulators hold huge sway over the financial system.
To start with, they should be more representative of #climate-vulnerable countries & communities.
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Indigenous rights and local communities must be at the heart of the #TFFF.
📘 Read this opinion piece by Rainforest Foundation UK, to learn what's at stake: news.mongabay.com/2025/06/the-tropical-forest-forever-facility-needs-more-local-and-indigenous-focus-commentary/
#COP30 @mongabay.com
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The current #TFFF plans need to be fixed:
🤚 Strong social safeguards aligned with international human rights standards
🛑 No funding for fossil fuels or harmful industries
📢 Direct support for Indigenous peoples & local communities
🌿 Real protections for forests
⚖️ Inclusive & transparent governance
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Yes, #CriticalMinerals are needed for the energy transition. But how they are mined, and who benefits, matters 💎
We urge public & private financiers at the Asian Clean Energy Forum to be guided by the UN principles to embed equity & justice in the race for minerals.
📣 bit.ly/UNSGcetm #ACEF2025
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The Asian Development Bank counted its investment in "Climate Smart Mining" in Mongolia as 100% #ClimateFinance
However, >60 orgs have flagged the project as risky for potential health impacts, local economic losses, pollution, land grabs & Indigenous rights violations.
🔖 bit.ly/COP29cf @adb.org
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The #nickel boom is wreaking havoc for people & nature in the Sulawesi provinces of Indonesia.
Local people have reported serious smog, polluted water, forced evictions & damage to farmland, as well as awful work conditions & deaths.
Read their story ➡️ bit.ly/UNSGcetm
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The #EnergyTransition is a huge opportunity to shift power sources AND power structures, so that finance lifts up communities across the world.
Let’s get it right this time.
Read the full report here, with in depth case studies from 🇻🇳🇮🇩🇸🇳🇿🇦 bit.ly/JETP25
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5⃣ Country Platforms should champion equity-based, cooperative finance models over loans.
Community bonds, green public banks, cooperative ownership schemes—these are the kinds of investment instruments that will help countries break free from cycles of #austerity and inequality.
( #DebtJustice )
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4⃣. Free, Prior and Informed Consent should be a practice, not a postscript.
Indigenous peoples so often on the frontlines of #EnergyTransition projects, and local communities, have a right to decide over developments that affect their lands, livelihoods, and futures.
( #FPIC #IndigenousRights )