Posts in World Bank
- 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.
- A new investigation by Oil Change International shows that the World Bank’s infrastructure program in Indonesia reads like a coal industry wish list stipulating policies and government subsidies that promote the fast-tracked development of over 40 coal projects in the country ahead of developing feasible renewable alternatives.
- Whether you’re from Europe or the US, your tax dollars are helping them finance climate-damaging fossil fuel projects, thanks to the EBRD. But that can change.
- Yesterday, the World Bank’s Executive Directors agreed to a new ‘Energy Sector Directions Paper’ which lays out the expected course for the Bank’s future energy lending. While there are some encouraging indications that the Bank will move away from coal financing, the increased emphasis on natural gas and large hydropower is likely to undermine the strategy’s stated objective of increasing energy access for the poor.
- Development, faith, human rights, community, and environmental groups from more than 20 countries teamed up today to ask World Bank President Jim Kim to end Bank support for all fossil fuel projects unless the projects are solely focused on directly increasing energy access for the poor.
- Then you better start swimmin’ Or you’ll sink like a stone For the times they are a-changin’. – Bob Dylan After decades of campaign efforts to get the World Bank to stop investing in fossil fuels, it appears that the institution that was for many years the largest source of multilateral public support for the...
Continue reading 'World Bank starts swimmin’, but still might sink'.
- Development Banks Still Financing Dirty Energy New Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years Nov. 30, 2011, Durban, South Africa – Major multilateral development banks have provided financing of over $40 billion to fossil-fuel energy development since 2008, according to the new Shift the Subsidies database (http://shiftthesubsidies.org), launched today by...
Continue reading 'Shift the Subsidies Database Reveals $40 Billion in Fossil Fuel Funding Over Last Four Years'.
- New report shows institution lacking clean energy lending strategy and instead considering a new loan for coal power in Kosovo BASIC South Initiative – Campagna per la riforma della Banca Mondiale (Italy) – Friends of the Earth U.S. – groundWork (South Africa) – International Rivers – Oil Change International – Sierra Club (U.S.) – Urgewald...
Continue reading 'Civil Society to World Bank: Clean Up Dirty Energy Financing'.
- Tuesday, June 7, 2011 FOR IMMEDIATE RELEASE CONTACT: Elizabeth Bast, Oil Change International, 202-641-7203, ebast [at] priceofoil [dot] org Patricia Brooks, ActionAid USA, 202-351-1757 Report Finds World Bank’s Energy Lending Fails to Target the Poorest, Calls for Decentralized Clean Energy to Achieve Development Goals WASHINGTON, D.C. – New research released today by Oil Change International,...
Continue reading 'Report Finds World Bank’s Energy Lending Fails to Target the Poorest'.
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