11
Jun
2004

World Bank, Enact Your Plan to Stop Financing Coal and Oil

by Forests.org, //forests.org/
June 11, 2004

Urge the World Bank to Protect the Environment, Human Rights and Local Communities - While Supporting Clean Energy

TAKE ACTION @ //forests.org/action/world_bank/

The World Bank will soon decide whether to phase-out lending to oil and coal projects, and end support for extractive industries in internationally recognized critical habitats - key environmental recommendations made in their own "Extractive Industries Review" (EIR).

Past and present financing of coal, oil and mining activities was found to have failed to reduce poverty, and caused major environmental and social problems. Poverty reduction and sustainable development are suppose to be the Bank's mission. EIR recommendations include halting World Bank financing for coal projects immediately, phasing out support for oil projects by 2008, dramatically increasing investment in clean, renewable energy, implementing a "no go zones" policy that would bar investments in ecologically sensitive areas, providing local communities the right to clear projects, and assurances of good governance and human rights in project areas. The report also recommends greatly increasing funding for clean, renewable energy. Please urge the World Bank's Executive Directors to FULLY implement the extractive industry reforms - and in so doing to use its financial resources to transform the world's energy economy from fossil fuel to renewable energy sources.

TAKE ACTION @ //forests.org/action/world_bank/


Networked by Forests.org, Inc., gbarry@forests.org
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