World Bank to stop financing oil and gas after 2019 [The Morning Call]

The World Bank Group, says it will stop financing oil and gas exploration after 2019, in a bid to help combat climate change. The world bank group which includes the World Bank and three other institutions and regarded as one of the world’s most important financial and development institutions made the announcement at the Planet Summit in Paris. The summit was hosted by French president Emmanuel Macron in Paris with 164 world leaders, government members, business leaders and prominent figures. The move marks a major change in strategy for the the WBG, which has historically sought to support extraction of natural resources, such as gas, oil and minerals in developing nations, in order to tackle corruption and exploitation, through proper governance.