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Bank bonus for climate campaign

By Sarah Whittington | 4 April 2011

We got some really exciting news about our climate campaign today.

The Guardian has a leaked copy of the World Bank’s draft energy strategy review that reveals it is planning to restrict funding for coal-fired power stations.

It's big, big news - and, as the Guardian says, it shows that the Bank is ‘bowing to pressure from ... campaigners to radically reverse its funding rules.’ 

In other words, our calls for climate justice are making a real impression!

Climate justice protestors, South AfricaAccording to the leaked report, the World Bank plans to end new coal investment in middle-income countries.

This means that in the future a coal-fired power plant like the one built by Eskom in South Africa would not go ahead. This is a great win!

Thanks to everyone who has taken the time to write to Andrew Mitchell, the UK's representative at the World Bank. Your actions have made a difference.

We should be clear, though: this is only a start from the Bank.

As the piece says, the Bank's move represents ‘a departure from previous regulations.’ However, the new proposals ‘would not mean an end to funding for fossil fuels.’

The Bank still plans to push ahead with new coal projects in less-developed countries, and there are no plans to limit funding for oil and gas.

That means fossil funding could continue to rise, which would worsen climate change and drive the poor even deeper into poverty.

As Christian Aid’s Alison Doig puts it in the Guardian piece, ‘the World Bank seems to think it can manage the world's new climate funds while continuing to bankroll high-carbon development.

‘Instead, it should be coming up with a coherent, credible strategy to promote thriving green economies which help developing countries to adopt technologies fit for the 21st century.’

We’ve made great progress so far. Now we need to keep up the pressure on the World Bank to invest in clean, reliable energy for the poor and get out of fossil fuels.

 

Take action!

Act now! Email Andrew Mitchell, the development secretary, and urge him to help get the World Bank out of fossil fuels.

 

Clean up the World Bank!

World Bank fossil fuel loans are paying for poverty. Tell them to stop.

Act now!

 About the author

Sarah Whittington

Sarah Whittington manages Christian Aid's climate change campaign


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