Recourse at COP28: What MDBs should deliver

Recourse calls on Multilateral Development Banks (MDBs) at COP28 to end all financing for fossil fuels, prioritize grant and concessional finance over private-sector profit, and center local communities and human rights in energy investments. The organization also argues that the World Bank is an unsuitable host for the Loss and Damage Fund and demands an independent hosting mechanism accountable to the UNFCCC.

• Recourse argues that MDBs should avoid relying on the profit-driven private sector or debt-based loans, and should instead provide concessional finance and grants to support a sustainable renewable energy transition.
• To maintain the 1.5C target, Recourse demands that MDBs cease all financial support for oil, gas, and fossil coal in favor of clean renewable energy.
• Recourse advocates for energy investments and supply chains that protect human rights, gender justice, and the rights of Indigenous Peoples, while placing local communities and civil society at the center of decision-making.
• The organization asserts that the World Bank is not the appropriate institution to host the Loss and Damage Fund and calls for the establishment of independent hosting accountable to the UNFCCC.

APA

Race, M. (2023). Recourse at COP28: What MDBs should deliver. Recourse. https://re-course.org/newsupdates/recourse-at-cop28/

Chicago

Race, Madeleine. Recourse at COP28: What MDBs should deliver. Recourse, 2023. https://re-course.org/newsupdates/recourse-at-cop28/.

Wikipedia

{{cite press release |last1=Race |first1=Madeleine |title=Recourse at COP28: What MDBs should deliver |publisher=Recourse |date=30 November 2023 |url=https://re-course.org/newsupdates/recourse-at-cop28/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{race2023recourse, author = {Race, Madeleine}, title = {{Recourse at COP28: What MDBs should deliver}}, publisher = {Recourse}, year = {2023}, month = nov, url = {https://re-course.org/newsupdates/recourse-at-cop28/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }