BIC assessment finds that even with important gains in renewable energy and energy efficiency in recent years, the World Bank Group’s overall lending approach to the energy sector does not support developing countries’ transition towards a low-carbon development path.
Over 100 civil society groups from 31 countries are calling on financial backers to withdraw their support from the the controversial Phulbari Coal Project in Bangladesh. The project will displace over 200,000 people, impoverish farming households and cause immense environmental impacts in one of the most fertile regions of Bangladesh. Despite these factors, according to information available on its website, the Asian Development Bank (ADB) remains interested in financing the project after having distanced itself from it earlier this year.
The Director of the Asian Development Bank’s Private Sector Operations Department, Robert Bestani, notified the Bank’s Board of Directors last week that it will take the Phulbari Coal Project in Bangladesh out of the Bank’s funding pipeline.
Civil society groups from South Asia are planning to boycott the Asian Development Bank’s consultation meeting on its safeguards policy update, to be held in New Delhi, India tomorrow. The groups, from India, Nepal, Sri Lanka and Bangladesh state that the ADB’s consultation draft, released in October 2007, greatly dilutes the Bank’s earlier policies on Environment (2002), Involuntary Resettlement (1995) and Indigenous Peoples (1998), and is opposed to indigenous peoples’ rights and subverts environmental considerations.