Aug 20, 2006

World Bank Plan Still Favours "Clean" Fossil Fuels

"In its most recent figures released this week, the Bank said that investments in renewable energy and energy efficiency were now 20 percent of the Bank's total energy sector commitments in fiscal year 2006, which totaled 4.4 billion dollars for 62 renewable energy projects in 35 countries.

'Renewable energy and energy efficiency can contribute significantly to achieving the Millennium Development Goals,' said Jamal Saghir, who directs the Energy and Water department at the Bank, referring to a United Nations-led plan to cut global poverty in half by 2015. "