Inspiring News Stories
Excerpts of Highly Inspiring News Stories in Major Media
Below are one-paragraph excerpts of highly inspiring news stories from the major media. Links are provided to the original stories on their media websites. If any link fails to function, click here. The inspiring news story summaries most recently posted here are listed first. You can explore the same list with the most inspiring stories listed first. See also a concise list providing headlines and links to a number of highly inspiring stories. May these articles inspire us to find ever more ways to love and support each other and all around us to be the very best we can be.
One of the world’s most important financial and development institutions, the World Bank Group (WBG), is to stop financing oil and gas exploration, in a bid to help combat climate change. After 2019, the WBG – which includes the World Bank and three other institutions – will stop investing in upstream oil and gas, it announced at the One Planet Summit in Paris on Wednesday. The summit was hosted by French president Emmanuel Macron, with 164 world leaders, government members, business leaders and prominent figures joining him. This move marks a major change in strategy for the the WBG, which has historically sought to support extraction of natural resources. The World Bank currently holds $961m (Ł722m) of guarantee operations, set up to support private sector investments in gas and oil explorations. Upstream oil and gas constitute 2pc of the WBG portfolio. Across the World Bank Group institutions, the total portfolio is worth around $280bn. This comes as the WBG signed a $1.15bn loan with the Government of Egypt aimed at reducing fossil fuel subsidies and encouraging low-carbon energy investment. “Everyday, climate change becomes a more urgent economic, social, and existential threat to all countries and all people,” WBG president, Jim Yong Kim, said. This change in approach was to ensure “alignment of our support to countries to meet their Paris goals,” he added.
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