Coal still has no place in clean development 1

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   Lawrence MacDonald Posted 2:38 pm
   08 Apr 2008

   Yup, World Bank is WAY too coal focusedJoseph - Thanks for a great post, and for your tip to David Wheeler's great work on this at CGD. We were dismayed to learn late this afternoon that the World Bank's IFC board approved the proposal for the IFC to help fund the Tata Ultra Mega powerplant to which you refer, to the tune of some $450 million. Worse, on the same day they released a long and self-laudatory press release about their (puny!) $20 million investment in a diversified clean energy fund. Who to they think they are trying to fool? And THEN their proposal for the so-called Clearn Energy Fund, to be bank-rolled with billions in U.S. tax payer money, came our way. Buried on page 14 is their description of how the money can be used. Guess what? Basically any kind of coal that is more efficient then what is already in place (meaning basically that it just has to be new construction with current technology) would qualify for clean energy money.
   
   The World Bank has shown itself to be unqualified to be the stewards of public trust and funds on this issue. It's time to tell Congress to find another steward for U.S. taxpayer money for the clean technology fund!
   
   Lawrence MacDonald

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