World Bank and Other MDBs Need to Tackle Rich Country GHG Emissions to Support Development
WASHINGTON DC, October 14 (IPS) – The World Bank and other multilateral development banks recently have begun reconsidering their self-imposed restrictions on financing fossil fuel projects. This change is being prompted in part by the new U.S. administration and is also supported by developing country experts. Yet, the reality remains that greenhouse gas emissions (GHG) from fossil fuels, and specifically the climate change they induce, can severely undermine multilateral development bank projects and overall developing country growth prospects.
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