More inconvenient truth reported by the German NGO Urgewald: “The World Bank’s active energy project finance significantly favors fossil fuels over renewable energy — $21 billion to $7 billion”… about 25% of which is coal. Emissions are never going down.
Continue reading Despite climate arm-waving, World Bank finances burning more coal
World Bank chief Jim Young Kim has long fanned the flames of climate hysteria to push unaffordable and unreliable wind and solar power. But the developing world is demanding affordable and reliable coal. At last week’s annual summit, the developing world won. Kim lost.
This does not mean less coal — just less Western-financed coal. China will be happy to finance these plants and gain favor and influence among developing nations. China wins. The West loses. All for nothing.
Source: Bloomberg Web | Global Bankers Spurn Trump’s Pleas to Keep Making Loans for Coal – BloombergPDF