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The Bank has become increasingly visible at global climate summits and officials regularly comment on the need for reducing greenhouse gas emissions, protecting the climate and making a transition to low-carbon development. However, a sober review of its lending practices reveals the Bank is undermining the cause it purports to champion. (Photo: IPS-DC)
At least in rhetoric, World Bank leadership has acknowledged for a quarter century that "the possible risks [of global warming] are too high to justify complacency or evasion." The Bank itself has cautioned that unabated climate change threatens to reverse hard-earned development gains -- and that the poorest countries and communities will suffer the consequences first and worst.
At least in rhetoric, World Bank leadership has acknowledged for a quarter century that "the possible risks [of global warming] are too high to justify complacency or evasion." The Bank itself has cautioned that unabated climate change threatens to reverse hard-earned development gains -- and that the poorest countries and communities will suffer the consequences first and worst. The Bank has become increasingly visible at global climate summits and officials regularly comment on the need for reducing greenhouse gas emissions, protecting the climate and making a transition to low-carbon development. However, a sober review of its lending practices reveals the Bank is undermining the cause it purports to champion.
We compared World Bank energy sector financing through the International Bank for Reconstruction and Development (IBRD) and International Development Assistance (IDA) for two five-year time periods: 2000 to 2004 and 2010 to 2014.
KEY FINDINGS:
RECOMMENDATIONS
If the World Bank is serious about supporting the transition to low-carbon, sustainable development, it should:
Â
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At least in rhetoric, World Bank leadership has acknowledged for a quarter century that "the possible risks [of global warming] are too high to justify complacency or evasion." The Bank itself has cautioned that unabated climate change threatens to reverse hard-earned development gains -- and that the poorest countries and communities will suffer the consequences first and worst. The Bank has become increasingly visible at global climate summits and officials regularly comment on the need for reducing greenhouse gas emissions, protecting the climate and making a transition to low-carbon development. However, a sober review of its lending practices reveals the Bank is undermining the cause it purports to champion.
We compared World Bank energy sector financing through the International Bank for Reconstruction and Development (IBRD) and International Development Assistance (IDA) for two five-year time periods: 2000 to 2004 and 2010 to 2014.
KEY FINDINGS:
RECOMMENDATIONS
If the World Bank is serious about supporting the transition to low-carbon, sustainable development, it should:
Â
At least in rhetoric, World Bank leadership has acknowledged for a quarter century that "the possible risks [of global warming] are too high to justify complacency or evasion." The Bank itself has cautioned that unabated climate change threatens to reverse hard-earned development gains -- and that the poorest countries and communities will suffer the consequences first and worst. The Bank has become increasingly visible at global climate summits and officials regularly comment on the need for reducing greenhouse gas emissions, protecting the climate and making a transition to low-carbon development. However, a sober review of its lending practices reveals the Bank is undermining the cause it purports to champion.
We compared World Bank energy sector financing through the International Bank for Reconstruction and Development (IBRD) and International Development Assistance (IDA) for two five-year time periods: 2000 to 2004 and 2010 to 2014.
KEY FINDINGS:
RECOMMENDATIONS
If the World Bank is serious about supporting the transition to low-carbon, sustainable development, it should:
Â