World Bank Group finance for fossil fuel exploration projects from FY2008 to 2013 was highest in 2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects.
In 2009, President Obama made a commitment to reduce U.S. greenhouse gases by 17 percent by 2020. The Obama administration put this forward as the U.S. share of a global effort to limit climate change to no more than two degrees Celsius – the target scientists tell us may be safe. Achieving this target, which … Read More
With just a few days left until the 19th Conference of the Parties (COP) of the United Framework Convention on Climate Change (UNFCCC) conference draws to a close, time is running out to reach a meaningful agreement on providing climate finance for developing countries – a key component of the negotiations. But as shown in … Read More
The World Bank Group (WBG) increased financing for both fossil fuels and large hydropower significantly this past year, while financing for clean energy dropped. Overall, only 8 percent of the Bank’s energy financing last year was aimed specifically at the poor.
The World Bank’s infrastructure program in Indonesia stipulates policies and government subsidies that promote the accelerated development of over 16 GW of coal power projects in the country ahead of developing feasible renewable alternatives.
Proponents of the Keystone XL pipeline regularly claim that the pipeline will replace heavy oil from Venezuela and elsewhere if it is built. In fact just this week, Rep. Lee Terry (R-NE) claimed that Venezuela’s recent offer of asylum for whistleblower Edward Snowden is somehow a reason to approve the pipeline. The reality is that crude delivered … Read More
New data reveals that a full 60 percent of gasoline produced at Keystone XL refineries was exported.
What if you knew that smoking that one last packet of cigarettes was going to give you cancer? Imagine if our understanding of cancer was so precise as to allow doctors to predict with virtual certainty that smoking that particular pack, which you just picked up at the corner store, would definitely be the last … Read More