It is time to phase out fossil fuels

We call on world leaders to come together and commit to start phasing out fossil fuels immediately. We need leaders at international financial institutions like the World Bank to firmly commit to addressing climate change and better supporting vulnerable nations – not doubling down on fossil fuel investments. The World Bank and other international financial institutions need to take immediate action and commit to a fossil fuel phase-out that complies with the 1.5C target. As we work simultaneously on domestic efforts – from Bangladesh’s visionary Mujib Climate Prosperity Plan to the United States’ Inflation Reduction Act – we must commit as a global community to phase out fossil fuels. The first “global stocktake” – a convention held by the United Nations to measure the progress of countries and other shareholders in meeting the goals established in the Paris Agreement – is our chance to get a reality check, hit the political reset button and start working hard to avert the most devastating consequences of climate change.