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ClimateWire: Senate presses World Bank to reduce coal plant loans
12 August 2010
The U.S. Senate ratchets up the pressure on the World Bank, including language in the 2011 foreign operations funding bill demanding a fossil fuel phase out and a commitment to renewable energy in the Bank’s new energy strategy.
Source: E&E News
by Lisa Friedman
The U.S. Senate is leaning on the World Bank to phase out lending for coal plants and other fossil fuel projects.
As part of the foreign operations funding bill for 2011, lawmakers last week approved $1.2 billion to the World Bank’s fund for the neediest countries. But in language tucked into the report, the Senate also sent a warning about how it wants to see U.S. funds spent.
With the World Bank poised to ask the United States for a $58 billion general capital increase, Democrats led by Sen. Patrick Leahy of Vermont said they expect the institution to develop a new strategy that ramps up support for clean energy and “rapidly phases out Bank support for fossil fuel-related projects,” except those specifically to provide energy access to the poor.
One Comment on "ClimateWire: Senate presses World Bank to reduce coal plant loans"
KenZ300 on Sun, 15th Aug 2010 12:35 pm
Sustainable energy projects need to be a priority. Wind, solar, geothermal and biofuels all need support. THese can provide local energy and local jobs.