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Action Alert: Protest World Bank Renewable Energy and Fossil Fuel Funding

Call upon Bank board to prevent climate mayhem by halting subsidies for deadly fossil fuel projects while greatly increasing renewable energy and efficiency funding

By Climate Ark, a project of EcoInternet - April 20, 2006

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Additional Background

The World Bank has failed to promote clean renewable energy and rarely considers climate change when funding fossil fuel and other projects in developing nations. During the World Bank's Spring Meeting on April 22 and 23, they look set to further steer energy policy in the wrong direction. A new report acknowledging the severe impacts of climate change on developing countries is to be considered, but plans will still be put forward to continue investing in fossil fuel projects.

Despite World Bank claims it wants to play a lead role in financing renewable energy globally, it is failing to meet targets for increasing finance for renewable energy projects. According to Friends of the Earth UK, in 2005 the Bank failed to meet its commitment to increase by 20% funding for renewable energy. During this period renewable energy and energy efficiency financing by the World Bank accounted for just 9% of the entire Bank's financing in the energy sector.

Climate change threatens the Earth and the lives of all of the Earth's citizens, and we must see real progress on the development of sustainable energy if climate mayhem is to be averted. The World Bank must be called upon to promote clean air technologies like wind and solar power, rather than environmentally harmful oil, coal and dam projects. The World Bank must lead in converting the world's energy system to a sustainable basis or step aside.

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Massive investments in renewable energy and efficiency are required to avert climate mayhem 

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