Bank's focus on attracting private investment through energy privatisation raises concerns, as it puts private profits over sustainable energy systems, burdening governments with debt and making electricity less affordable for citizens.
World Bank fails in its commitment to accountability by disregarding communities’ participation all the way through project design, implementation and resulting remedy plans.
Indonesia’s Just Energy Transition Partnership bears the clear handprint of the World Bank’s private-sector led approach to power sectors in the Global South, creating opposition from unions and civil society.
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.
New World Bank guidance on PPP legal frameworks evidence of institution’s continued reliance on PPPs as key to addressing SDG financing gap despite well-documented failures. Previous World Bank PPP contracts template criticised for incompatibility with human rights norms.
World Bank trust fund ESMAP will provide support for domestic market, while IFC will support private sector investment in CCUS.
UN official and civil society criticise World Bank and other MDBs for lack of ambition at COP26.
Plan lacks detail in key areas, including concrete commitments to end fossil fuels support.
Donald Trump’s election may result in a revision of World Bank’s long-standing prohibition of support to nuclear power.
Explicit mention of human rights obligations has long been a taboo subject at the World Bank.
World Bank’s commercial insurance arm provided nearly $850 million in guarantees for gas projects in Bangladesh and Mozambique in fiscal year 2022.
Chad has reached an agreement to restructure its nearly $3 billion of external debt, unlocking IMF financing, but the deal has been criticised for failing to reduce the country’s overall debt burden.
Loophole in renegotiated Energy Charter Treaty could see companies sue countries for losses related to fossil fuel projects until 2033.
Pakistan increases fuel prices in effort to meet IMF conditions, while cost of importing LNG surges.
Civil society voices concern about continued support for fossil gas under the policy.
Alex Mould says guarantee included commitment to sign four ‘take or pay’ contracts with independent power producers.
