world bank: catalysing catastrophic climate change

The report criticizes the World Bank for its continued funding of coal-fired power plants and large hydropower projects, which it claims lock developing nations into high-carbon futures and cause significant social and environmental harm. It specifically highlights the Medupi plant in South Africa and the Tata Mundra plant in India as examples of 'dirty energy' investment. The document also attacks the Bank's role in expanding carbon markets and REDD schemes, arguing that these mechanisms privatize forests, marginalize Indigenous peoples, and allow rich nations to avoid real emission cuts. Finally, it expresses concern over the Bank's role as the interim trustee of the Green Climate Fund, citing a lack of democratic accountability and a poor track record on social justice.

• The World Bank continues to finance coal-fired power plants, with fossil fuel funding reaching a record US$6.6 billion in 2010, of which US$4.4 billion was invested in coal.
• The World Bank provided a US$3.75 billion loan for the Medupi coal-fired plant in South Africa, which is expected to emit 25 million tons of CO2 annually and primarily serve industrial users rather than the poor.
• The International Finance Corporation (IFC) invested US$450 million in the Tata Mundra coal-fired power plant in India, which is estimated to emit 25.7 million tons of CO2 annually for at least 25 years.
• Large hydropower projects funded by the Bank, such as the Nam Theun 2 dam in Laos, have caused significant displacement and environmental damage, displacing 6,200 Indigenous Peoples and affecting over 110,000 people downstream.
• The World Bank's Forest Carbon Partnership Facility (FCPF) is criticized for promoting market-based REDD without protecting community rights, specifically marginalizing Indigenous peoples in Peru and ignoring dissent in Costa Rica.
• The World Bank's Umbrella Carbon Facility invested in HFC-23 incineration projects in China that are described as a 'scam' because they generate huge profits for corporations by producing a potent greenhouse gas just to destroy it for credits.
• The World Bank's use of loans instead of grants for climate finance, particularly through the Climate Investment Funds (CIFs), risks increasing the debt burden of poor countries.
• The World Bank was appointed as the interim trustee of the Green Climate Fund following the Cancun talks, a move opposed by many developing countries and civil society due to the Bank's undemocratic nature.

APA

Zacune, J. (2011). world bank: catalysing catastrophic climate change. Friends of the Earth International. https://www.foei.org/wp-content/uploads/2020/12/FINAL-WB-CLIMATE-FINANCE-JUNE-2011.pdf

Chicago

Zacune, Joseph. world bank: catalysing catastrophic climate change. Friends of the Earth International, 2011. https://www.foei.org/wp-content/uploads/2020/12/FINAL-WB-CLIMATE-FINANCE-JUNE-2011.pdf.

Wikipedia

{{cite report |last1=Zacune |first1=Joseph |title=world bank: catalysing catastrophic climate change |publisher=Friends of the Earth International |date=June 2011 |url=https://www.foei.org/wp-content/uploads/2020/12/FINAL-WB-CLIMATE-FINANCE-JUNE-2011.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{zacune2011world, author = {Zacune, Joseph}, title = {{world bank: catalysing catastrophic climate change}}, institution = {Friends of the Earth International}, year = {2011}, month = jun, url = {https://www.foei.org/wp-content/uploads/2020/12/FINAL-WB-CLIMATE-FINANCE-JUNE-2011.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }