The World Bank Executive Director for Brazil, seven other Latin American and Caribbean countries, and the Phillipines Rogério Studart told ClimateWire that the World Bank’s decision to stop coal-inspired loans to developed nations was a bad precedent. "It’s like you have a club and you say we’re not going to have people smoking inside anymore — except for the poorest people," Studart said.
The Bank recently announced that it would restrict funding for coal-fired projects except to countries that had no other alternative forms of energy. However, Studart stressed that by eliminating coal loans altogether was also a dangerous approach saying that it would only hurt the poorer coal-dependent countries in the longrun.
"I am totally in favor of the Bank supporting coal because some countries can’t afford the alternatives," he said. "As a general principle, I think the Bank should be able to be as flexible as possible and help the countries produce and develop clean energy."
Alternative Energy Africa is trying to reduce its own carbon footprint in 2011. Ask about our electronic subscriptions and online marketing campaigns specially tailored for individual companies.