World Bank and power “fatally-dangerous schizophrenia”

David Wheeler of the Washington-based Center for Global Development describes as “crazy” the World Bank’s imminent support for Tata Power’s planned Mundra coal plant in Gujarat, India. This will be one of the largest coal-fired carbon emitters in the world with projected carbon dioxide emissions of 27.8 million tonnes per year. “Just as the UN secretary general declares an international emergency created by carbon emissions, a UN-affiliated agency (the IFC) announces that it will use scarce development lending resources to help finance an enormous coal-fired plant in India”, Wheeler said in exasperation. He questions the effectiveness of carbon capture and storage, and adds “there is no chance – let me repeat this: zero chance – of holding global carbon emissions within safe limits if the UN continues subsidising coal-fired power expansion on a massive scale”. He surmises that “this fatally-dangerous schizophrenia has to end” and demands that the World Bank, the Clean Development Mechanism (CDM) and other lending institutions to “stop this practice, now. Build your future on expanding clean power as rapidly as possible, or you won’t have a future”.

From here


Leave a comment

Filed under IFIs, India

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s