The World Bank Still Fuelling Climate Change

[RestoreGore]

http://www.commondreams.org/news2007/0413-02.htm

World Bank Still Fuelling Climate Change

WASHINGTON DC -- On the eve of the World Bank’s annual Spring Meetings (Apr. 14-15) Friends of the Earth International challenged the bank's 184 government shareholders to halt all funding for projects contributing to climate change.

“Climate change is no longer just an environmental issue, it is a development issue and a looming humanitarian catastrophe, ultimately threatening our security and survival,“ said David Waskow of Friends of the Earth US.

“Government representatives should have the courage to take some real action and stop World Bank funding for all projects that contribute to climate change,”he added. “This means no more funding for oil, coal and gas projects.“

“We are happy to see that the US Congress seems to be taking the lead’, he added, referring to US Congressional legislation expected to be passed on April 17.

“It is up to the governments that rule the World Bank to get the Bank out of the dirty energy business. There is no lack of alternative investment options. There is a wealth of sound energy investment opportunities out there,“ David Waskow added.

The World Bank invests 2 to 3 billion USD a year in greenhouse gas-producing energy projects that fuel climate change and fail to help the world’s poor people. <1>

In 2005, only 9% of the World Bank Group's energy financing went to renewable energy and energy effiency. In 2005, the increase for lending towards renewables and energy efficiency was only 7% (or 14 million USD) instead of the 20% target that the Bank had set for itself. <2>

“The West-African Gas Pipeline, which passes through my country, is a sad example of archaic energy financing“, said Mike Karipko of Environmental Rights Action/Friends of the Earth Nigeria. “We are happy that the World Bank’s own Inspection Panel decided last March to thoroughly investigate the project’s ongoing problems,“ he added. <3>

On Monday, April 16, Friends of the Earth US will organize a conference on climate change and international development from 9.00 am-5.30 pm at the Center for Strategic and International Studies, 1800 K Street NW, Washington, DC. For more information see _ _ http://action.foe.org/dia/organizationsORG/foe/event/index.jsp?event_KEY=25071&t=ClimateConf.dwt

<1> For more information, read the report “How the World Bank Sells the Climate and Poor People Short” online at http://www.foei.org/publications/pdfs/wbenergyreport.pdf

<2> For more information, read the report by Friends of the Earth US 'Power Failure' online at: http://www.foe.org/camps/intl/institutions/renewableenergyreport10242005.pdf

<3> For more information, see: http://siteresources.worldbank.org/EXTINSPECTIONPANEL/Resources/FinalEligibilityreport.pdf

[RestoreGore]

1. They do the same thing with water

http://www.50years.org/cms/ejn/story/41

The World Bank exploits the poor of this world. I think they not only should fire Wolfowitz, but the World Bank itself should come under investigation for their schemes.

[etherealtruth]

7. Their water policies are obscene n/t

[RestoreGore]

10. It is nothing short of evil n/t

[RestoreGore]

2. World Bank Finances Corporate Corruption

http://www.foodandwaterwatch.org/water/WBWatch/world-bank-finances-corporate-corruption

[gravity]

3. So we should deny the developing world cheap electricity?

[RestoreGore]

4. Who said that?

You approve of the corruption that is REALLY denying them and killing them?

[gravity]

5. That is what the article is implying

The problem is that if we stop the funding for fossil fuel power plants, we are denying the opportunity for people to obtain cheap electricity so they can have a better standard of living.

[Donnachaidh]

8. They aren't giving them a better standard of living

They are raping these countries with their *free trade*. see Palast's work.

[gravity]

11. Developing countries benefit from the free trade

There is more jobs for the people, and they can make a higher income.

The problem is the corrupt governments in place that are keeping people from obtaining a better standard of living

[Donnachaidh]

13. it's NOT the corrupt governments -- it's the corrupt BANKERS

Like I said -- read Greg Palast. He's investigated this in DETAIL.

The World Bank and the IMF are using the talking points YOU just used to destroy these third world nations.

[RestoreGore]

9. With all due respect, that's BS

Investments in reneweable energy will do more to that end than what is being done now which is FAR from supplying "cheap" electricity or water anywhere the World Bank is involved. I suggest you do some research. Oh, and also, the contributions they are making to climate change with their policies are actually exacerbating the droughts that are killing these peoples' livelihoods and depleting their resources, which of course leave them free and clear to institute their "privitization" schemes.

[gravity]

12. The fact is that renewable energy is more expensive

If it was cheaper, then more people would be investing in it now since it would mean greater profits.

I just think it's hypocritical when the industrialized world benefited greatly from fossil fuels and are keeping the status quo, and then we deny other countries the same opportunities to obtain a higher standard of living.

[Donnachaidh]

14. How are we denying them when in fact we are STEALING from them?

Allowing privitization of essential services like electric and water resources is STEALING from them.

This is the same sort of bloviation the corporations use to cover wholesale rape of third world countries.

[RestoreGore]

15. More people ARE investing in it now. Again do your research.

You sound like a walking ad for EXXON.

[Donnachaidh]

6. WHAT *cheap* electricity?

The World Bank and the IMF are funding the takeover of electric companies who then raise the rates obscenely high. Think Enron on a global scale.

Do some homework -- read Greg Palast's book "The Best Democracy Money Can Buy" -- he goes into details as to how this is being done.