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World Bank to bolster sustainable energy role

Source:  Copyright 2009, Reuters
Date:  May 29, 2009
Byline:  Wojciech Moskwa
Original URL: Status ONLINE

The World Bank seeks to play a bigger role in sustainable energy projects around the globe including experimental carbon capture and storage (CCS) research, Vice President Katherine Sierra said on Thursday.

Sierra, who is the head of sustainable development at the Washington-based lender funded by countries around the world, said developing states it serves were increasingly looking for low-carbon solutions for their energy problems.

"Clients are first and foremost interested in getting the energy they need to grow in an affordable way ... (but) they are also increasingly aware of the need for sustainable energy," Sierra told Reuters on the sidelines of a carbon conference.

She said wind technology was "penetrating" the energy mix in developing markets and solar energy was picking up despite high costs compared to fossil fuel-based electricity generation which creates the heat-trapping gasses blamed for global warming.

Sierra said ...

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