Wednesday, June 11, 2008

The World Bank: Part of the climate change solution?

In its latest report "Correcting the World’s Greatest Market Failure: Climate Change and the Multilateral Development Banks" the World Resources Insitute is skeptical about involving the world bank in the fight against climate change (PDF)--for various reasons i`m downright doubtfull.

“The World Bank needs to demonstrate leadership to steer investment towards
low carbon, environmentally sustainable development choices,” said Jonathan
Lash, president of the World Resources Institute, which produced the analysis.
“This will be difficult to achieve while simultaneously investing in many
‘business as usual’ projects, such as coal-fired power.”

WRI are writing about an important issue here, the dual roles of funding polluting projects and selling emissions permits. However, the IPS has already covored this ground in a report entitled simply World Bank: Climate Profiteer.


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At 11:55 PM, Anonymous Anonymous said...

Very interesting. If the economics don't work, recycling efforts won't either. blogs about the innovative people and companies that make money selling recycled or reused items, provide green services or help us reduce our dependency on non renewable resources.

At 11:06 PM, Anonymous Anonymous said...

The World Bank or any other multilateral institution can join the fight against climate change while staying true to other missions. It starts with a policy that addresses and balances the conflicts - e.g. cheap energy for developing countries versus the need for a clean energy future. Our environmental challenges represent a variety of trade-offs which we'll need to manage through; simply dropping all missions other than climate change is not an option.


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