A group of the world’s leading public development banks have pledged to increase investment in renewable energy, energy efficiency and other clean technologies, but did not commit to phase out all financing of fossil fuel projects. While European institutions such as the European Bank for Reconstruction and Development and the French Development Agency have already pledged to exit fossil fuel financing, the Asian Development Bank refused to sign a joint declaration and other Asian institutions asked for its language to be watered down before signing, Reuters reported.
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