For Immediate Release
Diana Duarte, Media Coordinator
Phone: +1 212 627 0444
NGOs Sign On to Stop Climate Funds for World Bank
WASHINGTON - MADRE has signed onto the statement below. Endorsements should be sent
to email@example.com (the
deadline for signatures is 10PM Bonn time Wednesday, June 9, 2010).
Dear President Obama:
The success of global climate negotiations –
and the fight against climate change – largely depend on developed
countries meeting their responsibilities to transfer hundreds of
billions of dollars each year to support developing countries to deal
with global warming and to transition to sustainable and equitable
economies. This money will only be as effective as the institutions
through which it is channeled. We urge you and your negotiating
team to publicly state that the World Bank and regional development
banks should not have a role in managing global climate finance.
to fight climate change must be managed by an institution that is
governed democratically, has environmental integrity, and ensures the
participation of local communities and peoples who suffer the impacts of
climate change. The World Bank is not that institution.
- The World Bank’s track record of imposing policy conditions
and programs on developing countries and its undemocratic governance
structures seriously discredit the institution. Developing countries,
who will bare the heaviest burden from climate change, are the least
represented inside the Bank.
- The World Bank continues to be a
top financier of fossil fuels. As of April 2010, it had already hit a
record high for annual fossil fuel lending, with (US) $4.7 billion
primarily for coal.
- The World Bank is not effective in ensuring
that communities and peoples determine the policies and programs that
There is an alternative. We call on the US to
support the creation of a multilateral climate fund under the UNFCCC
that has an equitable governance structure, prioritizes the
participation of affected communities, operates with full transparency
and accountability, and provides direct access to funding.
organizations so far:
Campagna per la Riforma della Banca Mondiale - CRBM
from Debt Coalition-Philippines
Friends of the Earth International
Social Action Forum
Institute for Essential Services Reform
Jubilee South- Asia/Pacific Movemen on Debt and Development
African Climate Justice Alliance
Sustainable Energy and Economy
Network at the Institute for Policy Studies
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