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Five banks made an estimated total of £2.2 billion from speculating on food including wheat, maize and soy between 2010 and 2012, prompting campaigners to accuse the banks of fuelling a global hunger crisis.

On the eve of Scotland’s international climate justice conference, campaigners have welcomed the Scottish government’s on-going commitment to climate justice, calling for further funds to help meet the country’s ‘climate debt’ to developing countries. But they have also warned the government to steer clear of corporate involvement in climate finance, claiming that thriving, democratic public sectors are the only means of tackling climate change in a just way.

Campaigners set up a ‘Carbon Bubbles champagne bar’ outside of HSBC’s AGM to highlight the bank’s role in financing dirty energy projects.

For the past two years WDM along with the Jubilee Debt Campaign have been campaigning for the UK government to deliver its climate finance to help countries cope with climate change as grants through the UN Adaptation Fund rather than loans through the World Bank. We are pleased that the UK government will now be putting £10 million towards the UN Adaptation Fund.

By the end of tomorrow (Friday 13 January 2012), the average person in Britain will have emitted as much carbon dioxide as the average person in Kenya will in an entire year, according to figures from the World Development Movement.

More than 450 economists from over 40 countries have called on the G20 finance ministers, who are meeting in Paris this week, to take urgent action to stop financial speculation in commodity markets driving up food prices and fuelling hunger. 

A new WDM/PLATFORM report released today finds that transforming the Royal Bank of Scotland into the Green Investment Bank would kick start the green energy revolution. The research, by former Pricewaterhouse Coopers consultant, James Leaton, finds that it would bring 50,000 new green jobs a year, boost the UK economy, reduce the UK's carbon emissions and improve international competitiveness - whilst not increasing the budget deficit.

In solidarity with campaigners in South Africa, WDM has joined a call to the UK government to say no to a World Bank proposal to provide a $3.75 billion loan to South African energy giant Eskom. The project, which Eskom want to use as an excuse to raise rates for people living in South Africa, would increase energy poverty and cause environmental destruction that would hit the poorest people in South Africa hardest.

Late last night, EON confirmed that they had shelved plans for the controversial Kingsnorth coal plant in Kent. The news of the victory spread like wild fire, and the 'Stop Kingsnorth' campaigners received it via text at a coal debate in Rochester, hosted jointly by the World Development Movement and the local campaigning group, KingsnorthClimate Action Medway, who have been working closely for nearly two years.

Flights from the new third runway at Heathrow will produce the same amount of greenhouse gas emissions as Kenya every year according to figures from the World Development Movement.

Benedict Southworth, director of the World Development Movement said:

The government has been roundly criticised from various quarters for the use of public cash to bail out and prop up RBS.

The headlines over the last few weeks have been dominated by revelations over the expenses claimed by MPs.

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