World Bank Energy Framework Sells Climate and Poor People Short

The World Bank’s promise to seriously support alternative energy sources remains unfulfilled, according to a new report published today to coincide with the World Bank’s annual meeting. The report, published by international environment and development organizations, concludes that the World Bank’s new Investment Framework on Clean Energy and Development will not be effective at combating climate change and expanding energy access for the poor. The report will be available at: www.ifiwatchnet.org/documents/index.shtml.

Instead of combating climate change, the World Bank Investment Framework promotes coal-fired power, nuclear power and large hydropower projects. The World Bank also proposes setting up a new $10 billion fund to bring down the costs of conventional energy technologies that have lower greenhouse gas emissions. Yet a continued focus on fossil fuel technologies will neither bring about the required shift to a carbon-free development path, nor bring energy services to the 1.6 billion people who have no access to modern energy and often live far away from electric grids.

“Poor communities in developing countries are already paying the highest price of climate change, living with the impacts of heavy droughts and floods”, said Pantoro Tri Kuswar of Friends of the Earth Indonesia/WALHI. “The World Bank’s focus on fossil fuel projects will not bring electricity to the poor. Instead, the Bank’s proposals will lead to more pollution, conflict and corruption and do little to stop climate change.”

How the World Bank’s Energy Framework Sells the Climate and Poor People Short is
published by the Bank Information Center, Bretton Woods Project, Campagna per la Riforma della Banca Mondiale, CEE Bankwatch Network, Friends of the Earth, Institute for Policy Studies, International Rivers Network, Oil Change International and Urgewald, available at: http://www.foe.org/camps/intl/EnergyReportDraft091406.pdf