Despite its increasingly strong rhetoric on tackling climate change the World Bank continues to fund contentious coal projects in India and Indonesia, including rejecting the findings of its accountability mechanism.
Amidst new complaints on the failure of the investments of the IFC’s financial sector clients to meet the IFC performance standards, including a controversial dam in Honduras, civil society organisations have rejected the IFC’s proposed action plan as unacceptable.
New Bank report highlighting benefits of privatisation heavily criticised by NGOs, pointing to the impact on communities in the Philipines, left without water.
In the wake of the April publication of the World Bank funded feasibility study of the Red Sea – Dead Sea canal, a coalition of 19 Palestinian organisations and three experts have rejected the plan and described the participation process as a “mockery”.
This letter was written to respond to a World Bank 18 April reply to a March civil society letter about an audit of the International Finance Corporation’s lending to the financial sector. The over 50 groups signed on to the letter believe the IFC’s response is inadequate and urge the Bank’s president to insist the IFC do more to address the audit’s findings.
In July 2012 NGOs called on governments to pivot away from funding the Bank-housed Climate Investment Funds (CIFs). Concerns have also been raised about private sector delivery of climate finance and that the Bank’s efforts to push carbon markets are undermining genuine reforms in the forest sector. Concerned about the lack of funding for the… Read more »
Read a pdf version of CIFs Monitor 8 Clean Technology Fund and Strategic Climate Fund (covers PPCR, FIP, SREP) joint meetings CTF-SCF decisions by mail (Decisions can be taken between CIF trust fund committee and sub-committee meetings by mail between the CIF administrative unit and members of the CIF sub-committees) Upcoming meetings 29 October 2013:… Read more »
Chapter of CIFs Monitor 8 on the Pilot Program for Climate Resilience (PPCR)
Chapter of CIFs Monitor 8 on the Scaling up Renewable Energy Program (SREP)
Information on the private sector and the CIFs taken from each section of CIF Monitor 8 (October 2013) Introduction Private sector engagement The efforts to increase private sector engagement in the CIFs have made further progress. Calls for proposals for the new private sector set-asides for the PPCR, FIP and SREP, to facilitate an increased… Read more »
Climate Investment Funds (CIFs) explained The World Bank-housed Climate Investment Funds (CIFs) are financing instruments designed to pilot low-carbon and climate-resilient development through the multilateral development banks (MDBs). They are comprised of two trust funds – the Clean Technology Fund (CTF) and the Strategic Climate Fund (SCF). The SCF is an overarching fund aimed at piloting… Read more »
Chapter of CIFs Monitor 8 on the Forest Investment Program (FIP)
New briefing by ActionAid USA and the Bretton Woods Project highlights research showing that IMF policy advice has undermined a just energy transition since the Paris Agreement was signed.
