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.
Bank’s lofty projections for oil-based growth contradict more sober estimates that account for uncertainty in sector.
Bank support facilitated $1 billion in private investment in LNG on the island, despite the green credentials of natural gas being widely debunked.
Case continues troubling trend of increased ISDS claims from fossil fuel industry.
The Bank’s new Africa energy strategy offers it an important chance to mainstream achieving SDG7 into its energy lending on the continent.