Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
Issue overview: World Bank and energy
What’s the issue? Energy is a crucial economic sector which has a disproportionate influence on…
Clean Technology Fund (CTF)
Concerns have been raised about a projected shortfall of resources for the Clean Technology Fund, with an early warning mechanism due to be discussed. Questions were raised about development benefits of a Colombia project and on safeguards for a Vietnam project.
Scaling Up Renewable Energy Program (SREP)
Indicative funding allocations have been agreed for 14 new Scaling up Renewable Energy Program in Low Income Countries pilot countries, however, cautions remained about “unrealistic expectations” about funding availability. Questions were raised about incentives for diesel in a Kenya project.
What are the trends in the energy sector?
Notes from a meeting on energy during the World Bank spring meetings.
Bank implicated in Kenya Maasai eviction
The World Bank's Inspection Panel has found the Bank breached its own standards through its involvement in a Kenyan electricity project which has displaced Maasai communities.
World Bank pitches mining to drive energy investment in Africa
A World Bank report calling for closer collaboration between mining and energy companies in Africa is criticised for underplaying risks and neglecting more efficient energy options for the poor.
The Arab world’s subsidy nightmare: pondering alternatives
For decades, the Arab region has embarked on a series of IMF-prescribed energy subsidy reforms, which have contributed to increased poverty levels.
World Bank Global Infrastructure Facility launched despite “reputational risks”
The World Bank-hosted Global Infrastructure Facility has been launched despite concerns over risks, including duplication with other initiatives, such as the new Asian Infrastructure Investment Bank.
New report highlights lack of MDB spending on energy access for the poor
A new report by Sierra Club and Oil Change International highlights the need for MDBs to establish criteria for energy access for the poor within their energy portfolios in order to achieve the goal of universal energy access by 2030.