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Smokestacks belch fumes from a coal-fired power plant on the Indonesian coast, September 2021. Photograph: Bay Ismoyo/AFP/Getty Images

ReflexionesNaturaleza, ,

The World Bank is facing the biggest test in its history. Next week, Bank executives are attending the Cop26 global climate summit in Glasgow, where key decisions about the fate of humanity will be made. If the Bank wants to achieve its official goals of eradicating poverty and building shared prosperity, now is the time to step up. Because nothing will increase poverty and undermine prosperity more than runaway global warming.

It is likely to fail this test, however. At a time when the world needs to move away from dirty energy as quickly as possible, the Bank has spent more than $12bn on direct fossil fuel project financing since the landmark Paris climate agreement.…  Seguir leyendo »

InternacionalEconomíaReflexionesNaturaleza, ,

I worked as environmental adviser for the World Bank Group, headquartered in Washington, for 23 years. I joined because I believed the bank wanted to improve the lot of the poor and conserve the environment. Before going to Washington I did an environmental study for the government of Tucurui, the first big dam in Amazonia. A vast part of the forest was flooded, so I saw at first hand the huge environmental and social cost of misguided development projects.

The bank knew how impassioned I was but hired me none the less. I thought I would work with colleagues to prevent blunders in the future.…  Seguir leyendo »