World Bank: Walk the Talk on Climate

The World Bank has not yet addressed climate issues systematically. Most notably, its Safeguard Policy framework does not require climate change risk assessments for Bank projects with climate-related impacts.

This gap in policy has allowed the World Bank to continue financing projects with serious implications for our climate and to essentially ignore the issue completely. According to a recent study by the World Resources Institute, 75% of World Bank projects do not incorporate assessments related to climate change risks into their design, while 88% of the projects do not assess GHG emissions from project activities, relative to a baseline. It is no wonder that with such an approach, the Bank continues to finance projects like the coal-fired Medupi power plant in South Africa, and possibly an even dirtier coal plant in Kosovo.

The Bank is currently reviewing its policies, for the first time in its history.
This review presents an important opportunity for the Bank to adopt best practices for promoting low-carbon and resilient development by establishing a safeguard policy on climate change.

Over 100 Non-Governmental Organizations from over 60 countries submitted to the World Bank a proposal for a Policy on Climate Change as part of this review process. This Policy proposal outlines some of the main priorities that the Bank should adopt as part of a safeguard policy on climate change, including introducing a ban on financing any coal projects in the future.

President Kim of the World Bank himself said last year that, “…the world needs a bold global approach to help avoid the climate catastrophe it faces today”. The signatories of the climate submission want to see Dr. Kim and the Board members of the World Bank start to walk the talk on climate by establishing a climate safeguard policy that would ensure the World Bank no longer supports projects that contribute to climate change.

As each country of the world has a representative at the World Bank Group Board of Directors, your voice is very important to be heard. One of the Board Committees of the Bank will convene on July 30th to discuss the first draft of the new World Bank policies. Let us together deliver a strong message to them before this meeting that introduction of a Climate assessment policy for the World Bank projects is a must and that we stand united in asking them to act on climate, now!

Study by the World Resources Institute:
http://goo.gl/nGCULH

Coal-fired power plant in South Africa:
http://goo.gl/0d2tas

Coal-fired power plant in Kosovo.:
http://goo.gl/jxTt7c

Climate Change Assessment (CCA) Safeguard Policy:
http://www.bicusa.org/wp-content/uploads/2014/05/Climate-Change-Safeguard-Model-Policy-for-the-World-Bank.pdf