Saturday, January 28, 2017
Report accuses World Bank of subsidising fossil fuel, undermining climate commitments
A new analysis of the World Bank’s $5-billion-dollar policy loans shows lender supporting investment incentives for coal and other fossil fuel projects in Southeast Asia, South America, Africa and the Middle East, threatening climate change efforts, indigenous groups and natural resources
World Bank policy loans are creating subsidies for coal, gas and oil projects and undercutting initiatives to build wind, solar and geothermal power infrastructure and protect vulnerable rainforests, including the Amazon, a new report by the Bank Information Centre (BIC) and worldwide partner organisations finds.
at January 28, 2017