Critics call World Bank energy scheme misguided

“The Bank continues to invest $2 billion and $3 billion a year in greenhouse gas-producing energy projects, which fuel climate change and fail to help the world’s poor,” said the report, which is backed by groups such as Friends of the Earth and the Institute for Policy Studies.

“Financing for renewable energy projects makes up less than 5 percent of the Bank’s overall energy financing in fiscal year 2005,” it added.