World Bank Accused of Undermining Climate Funds by Backing Coal
Environmental groups have this week launched a blistering attack on the
World Bank's efforts to tackle climate
change, ahead of its annual meeting this weekend.
Earlier this year the Bank stepped up its efforts to address climate change,
unveiling two climate investment funds in July, with 10 industrialised nations
pledging $6.1bn (£3.5bn) in aid to help developing nations adapt to rising
global temperatures and accelerate the adoption of low carbon technologies.
But environmental groups have argued that despite the new funds the bank is
continuing to back fossil fuel-intensive projects, such as the planned Tata
Mundra coal plant in India, Peru's Camisea gas project, and infrastructure
projects that will trigger significant deforestation in the Amazon.
Read more about the World Bank backing coal here.
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