China, India, Brazil Could Slash Energy Use – Report

(Reuters) – China, India and Brazil could reduce energy use by a quarter with simple efficiency schemes but banks have been sluggish to lend to such projects, an international study said on Monday.

The three-nation report, led by the World Bank and the U.N. Environment Programme, said many banks had overlooked chances to boost their profits by lending to help businesses cut energy waste while oil prices hover at around $70 a barrel.

“Cutting energy waste is the cheapest, easiest, fastest way to solve many energy problems, improve the environment and enhance both energy security and economic development,” said Robert Taylor, a World Bank energy specialist who led the study.
Reuters AlertNet