World Bank’s (E)Mission Creep

by Writer Team | March 25, 2005 6:47 pm

Critics question World Bank’s role as carbon trader, fossil-fuel funder
By Daphne Wysham
25 Mar 2005
For as long as it’s been around, the World Bank has been prone to mission creep. Since its founding 60 years ago, the World Bank has shifted its focus from rebuilding war-torn Europe to aiding developing countries. Now the organization is brokering deals in the fledgling carbon-trading market, some of which could harm the very people it’s supposed to help. At the same time, the bank continues to fund fossil-fuel extraction projects that create the emissions carbon trading is intended to fight. Of course, more carbon emissions mean more carbon-market profits … Daphne Wysham takes a look at the troublesome cycle Read More..[1]
Why can’t they just invest in providing cheaper and better solar panels[2]?

Source URL: https://www.newsinsider.org/61/world-banks-emission-creep/

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