World Bank Clueless On Climate Impacts Of Its Loans
"At the World Bank -- heavily influenced by its largest shareholder, the United States -- the effect of projects on climate change is not even calculated.
In February 2006, for example, the World Bank's operating vice presidents gathered to discuss a draft of a progress report, requested by the Group of 8 leading industrialized nations, titled "Climate Change, Energy and Sustainable Development: Towards an Investment Framework." The bank executives endorsed the report, according to minutes obtained by the Government Accountability Project and authenticated by The [Los Angeles] Times.
But afterward, the summary noted, the office of then-World Bank President Paul D. Wolfowitz -- a President Bush appointee -- "asked the team to refocus the paper shifting from a climate lens mainly to a clean-energy lens." A note of uncertainty should be injected, a top Wolfowitz aide instructed: "Elaborate on the challenge of mitigating climate change and reducing the vulnerability to the impact of climate change."
"Climate change" was duly removed from the name of the paper, which was issued within months as "Clean Energy and Development: Towards an Investment Framework.""