World Bank Fossil Fuel Lending Increases in Last Year

October 8, 2013By Elizabeth BastBlog Post, Featured 2 Comments

In spite of a heightened institutional focus on combating climate change, the World Bank increased its lending for fossil fuels over the last year. Meanwhile, the World Bank also has a ways to go in terms of tackling its objective of supporting universal access to energy, as only 8 percent of the Bank’s energy portfolio last year targeted the world’s poorest.

World Bank Shies Away from Coal But Embraces Natural Gas

July 17, 2013By Elizabeth BastBlog Post, Featured 1 Comment

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.