Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.

Despite efforts to boost its influence within climate finance circles and a call to “decarbonise development”, the World Bank continues to support fossil fuels.
What’s the issue? Energy is a crucial economic sector which has a disproportionate influence on…
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.
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.
Notes from a meeting on energy during the World Bank spring meetings.
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.
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.
For decades, the Arab region has embarked on a series of IMF-prescribed energy subsidy reforms, which have contributed to increased poverty levels.
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.
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.