World Bank Executives: Stop Defending Dirty Energy for the Poor

April 19, 2011By Traci RomineBlog Post, Featured

The World Bank Group, perhaps the best-known publicly-funded international development institution, is pitched in an important battle over the future of its energy lending. Unfortunately, if some Bank executives have their way, the new Energy Strategy will become a blueprint for straddling the world’s poorest nations and people with dangerous and polluting energy. That’s because … Read More

Global Climate Fund In, World Bank Out

December 8, 2010By Elizabeth BastBlog Post, Featured

With only a few days to go in the UN climate talks in Cancún, many questions remain on the outcomes, including on one of the most important issues currently on the table – climate finance. Finance in the context of the climate talks refers to funding for developing countries to address climate needs – financing … Read More

The Polluter’s newfound concern for the Poor

October 6, 2010By Steve KretzmannBlog Post, Featured

Two days ago in St. Louis, the head of the largest coal producer in the US, Peabody Energy’s Gregory H. Boyce, delivered the keynote address on ‘The Future of Fossil Fuels’ at the Global Energy Future Symposium at Washington University in St. Louis. His message was to “put people first” by supporting policies that prioritize … Read More

World Bank lending for coal up 256%…

October 8, 2008By Steve KretzmannBlog Post 1 Comment

Relying exclusively on the World Bank’s own figures, a new analysis shows World Bank Group lending to coal, oil and gas is up 94% from 2007, reaching over $3 billion.  Coal lending alone has increased an astonishing 256% in the last year. This is the same World Bank that would like to lead – and … Read More

World Bank Pulls out of Chad Pipeline

September 10, 2008By Andy RowellBlog Post 1 Comment

It was meant to be the test-case that showed that oil could benefit the poor of Africa. It was one of the World Bank’s biggest ever investments on the continent. But yesterday, the Bank pulled the plug on the infamous agreement with Chad over the Chad-Cameroon pipeline and repeated failed promises to spend the oil … Read More