World Bank’s climate change action plan includes $25bn for ‘clean energy’

Posted: April 14, 2016 by oldbrew in Big Green, climate, Energy
Tags:

credit:TheGuardian

credit:TheGuardian


We’ll no doubt get plenty more of this brainwashing language of climate-speak in the years ahead. How expensive energy is going to help poorer countries is, unsurprisingly, not mentioned.

The World Bank has announced a new plan which it hopes will succeed in keeping up positive momentum towards a clean energy transformation as laid down in COP21.

The group has launched a new Climate Change Action Plan in a bid to help developing countries to add 30 GW of global renewable capacity by 2020, simultaneously helping countries meet their Paris COP21 pledges and address increasing climate impacts.

As part of this effort, the bank plans to provide $25bn in private financing for clean energy by the end of the decade.

World Bank Group president Jim Yong Kim said the bank is moving urgently to help countries make major transitions to increase sources of renewable energy, decrease high-carbon energy sources, develop green transport systems, and build sustainable, liveable cities for growing urban populations.

Special teams will also be created to work with countries to generate a pipeline of bankable projects.

World Bank Group member International Finance Corporation (IFC) is planning to increase its climate investments from the current $2.2bn a year to $3.5bn a year in grid-connected renewable energy, green buildings, industrial/commercial energy efficiency, and climate-smart urban infrastructure.

Source: World Bank’s $25bn investment adds to global clean energy momentum – Power Engineering International

Comments
  1. oldbrew says:

    Paul Homewood reports:

    ‘Green energy dropping out of mix in developing world’
    https://notalotofpeopleknowthat.wordpress.com/2016/04/12/green-energy-dropping-out-of-mix-in-developing-world/

    Green energy = playing games
    Energy from fuels = reality

  2. Paul Vaughan says:

    These people are full-on delusional. Hubris on steroids. Corrupt use of money. Even they know that nearly all of the money will get wasted. Despite this they feel rational.

  3. Paul Vaughan says:

    Is it hog-trough or gambler’s mindset? If the latter it can undermine stability in less than a generation. And then what?

  4. oldbrew says:

    The banking system is already in a poor state to put it mildly. ‘Cheap money’ is keeping zombie banks alive at the expense of savers and others.

    http://www.spiegel.de/international/europe/conflict-grows-between-germany-and-the-ecb-a-1086245.html

    Even negative interest rates aren’t working.

  5. E.M.Smith says:

    @Oldbrew:

    It is called a Liquidity Trap
    https://chiefio.wordpress.com/2016/02/29/the-present-global-liquidity-trap/

    Keynes recognized it as a risk, advised to only use easy money for a year or 2 to avoid the risks of inflation and liquidity traps, and folks today ignore his full work and only hear the Spend Govt Money words and skip the limits, warnings, and conditions (that include running a surplus in good times ) then try to call that Keynesian…

    @Paul:

    Are they delusional, or the beneficiaries of the subsidy farming? Follow the money.

  6. Paul Vaughan says:

    Definitely not my area of expertise and not even a peripheral area of interest, but it looks to be getting out-of-hand …So what I’m wondering:

    Where are the good people who understand what’s going wrong?
    And what is obstructing / suppressing them?

    Are they just being bullied?
    Or are they being made to appear wrong with optical campaigning tactics (e.g. belief-policing)?

    What I’m wondering is what is the nature of the obstruction they face from those suppressing them and what presently makes it insurmountable?

    What changes could free them to do the needed corrections for stability?

    How would I (a person ignorant in this area) identify who these good people are? For example, if I started reading in this area today, would I not just get sucked into floods of spin-writing?

    I believe there are good people in the system somewhere who know EXACTLY what is wrong and EXACTLY how to fix it. I’m also sure they are obstructed and suppressed.

    I don’t think I can help with this problem, but I hope the good people find a way. I wish the good people divine connection.

  7. tchannon says:

    One of the fundamentals was highlighted this morning during a radio program marking a number of yours since disability legislation was introduced in the uk. The issue?

    The legislation was introduced by a right wing government, not as so many assume, or what might be assumed from posturing, left wing. More pointedly left said they would but on election play nasty.

    There is resistance on the right, resisting giving power to uncontrollable third parties, not out of callousnesss. In the UK this is no different from the regime intendedby the US constitution, keepong the State in its place. None of the EU, World Bank, UN, rafts more hold this duty of care, staying within original intent, stay where you are, no creep.

  8. oldbrew says:

    Development banks eye pension funds in new climate finance drive
    http://www.climatechangenews.com/2016/04/14/development-banks-eye-pension-funds-in-new-climate-finance-drive/

    Now they want Big Pensions to cough up for unaffordable unreliable energy.

    ‘Long a target for climate campaigners who have urged them to ditch fossil fuels holdings, the world’s pension fund managers sit on assets worth $35.4 trillion, according to 2015 figures.’

  9. ntesdorf says:

    Rather than the World Bank setting up special teams “to work with countries to generate a pipeline of bankable projects”, the World Bank is more likely to set up countries to generate a pipeline of bankrupt projects. The World Bank has a long history of damaging poor countries and causing them to waste their money.

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