Today EDF released a report on the relationship between publicly funded international financial institutions (like the World Bank) and coal fired power plants which harm both regional human health and the atmosphere.
Here are a couple of key facts from the report:
– Since 1994, the World Bank, other MDBs and ECAs financed new construction or expansion of 88 coal-fired power plants.
– These plants will generate roughly 791 million tons of CO2 emissions per year, or more than 75% of the current emissions for coal-fired power in the entire European Union.
Bruce Rich, a long time crusader for reform of these institutions, spearheaded this work. Among his recommendations: immediately shift any future money for coal plants into renewables.
I think that makes great sense…