Despite lofty rhetoric, Bank’s attempts to use scarce concessional finance to build investable project pipelines to secure power sector decarbonisation faces significant hurdles.
World Bank Evolution Roadmap’s proposed superficial technical patches favouring the ‘logic’ of the market will likely fail to deliver the structural changes needed to support borrowing countries amidst global crises.
World Bank’s political insurance arm to provide risk cover to existing offsets if they are affected by governments efforts to better regulate problem-plagued offset schemes.
Marrakech working group calls on the BWIs to cancel the debt, stop imposing austerity and ensure a just energy transition.
Initial financing for Costa Rica, Barbados, Rwanda, Bangladesh and Jamaica tied to efforts to ‘green’ PPP frameworks.
World Bank’s support for fossil fuel projects, including problem-riddled Medupi coal power station, leaves its reputation in tatters with South African civil society.
IMF’s lending instruments fail to provide swift and large-scale funding for climate transition. The Bridgeton Initiative proposes a new trust backed by $500 billion in SDRs for climate and development.
Despite continued public rhetoric about importance of civil society engagement, Bank is yet to commit to holding a public consultation period on its Paris alignment approach.
Newly released study by Oxfam finds that the Bank’s claims of climate finance for FY2020 could be off by as much as 40 per cent, or $7 billion, highlighting the urgent need for greater public disclosure.
In the face of growing calls to ‘de-risk’ green investments for the private sector, academic experts call for developmental allocative green credit regimes, rather than market-led approaches.