It's 2013, And The World Bank Finally Agreed To "Limit" Funding For Coal Plants
The Bank will amend its lending policies for new coal-fired power projects, restricting financial support to countries that have "no feasible alternatives" to coal, as it seeks to balance environmental efforts with the energy needs of poor countries.
The impact of this energy strategy may not be seen immediately, since bilateral donors and the private sector will still continue to finance coal. Some analysts hope the new strategy could send a signal that coal is a risky investment and prompt countries to turn to alternative energy sources.
In its "Energy Sector Directions Paper," updated every 10 years, the Bank also backed increased support for hydro electric power, reversing its decision to abandon those projects in the 1990s under pressure from aid groups that warned they would displace people. For full report, see
Large-scale dams provide the Bank with a way to balance global energy needs with its pledge to help scale down greenhouse gas emissions.
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http://www.reuters.com/article/2013/07/16/us-worldbank-climate-coal-idUSBRE96F19U20130716
