Tag: World Bank

Trump could use World Bank appointee to promote its pro energy access stance

Trump could use World Bank appointee to promote its pro energy access stance

Following World Bank President Jim Yong Kim’s decision to step down from his role three years before the end of his term, attention is focusing on whether US President Donald Trump will use the vacancy to appoint a new leader in line with his policies. After Trump’s decision to pull […]

World Bank president resigns amid conflict with Trump administration

World Bank president resigns amid conflict with Trump administration

World Bank Group President Jim Yong Kim has unexpectedly resigned from his position amid differences of opinion with the Trump administration over climate change. Appointed for two five-year terms by President Barrack Obama, Kim has pushed forward green financing projects and has dropped funding for coal power projects. Meanwhile, US […]

World Bank pledges $200bn in climate funding

World Bank pledges $200bn in climate funding

The World Bank has pledged $200 billion in investments for low carbon projects, despite the fact that its largest shareholder, USA, is refusing to re-join the Paris agreement and is set to host a pro-fossil fuel side event at the United Nation’s climate talks. The funds will come from a […]

How coal can reduce global poverty

How coal can reduce global poverty

As the world’s prominent source of electricity, most notably in the China and India where it contributes 37-40% of all supply, as well as the US where is generating 30% of power, coal remains a vital part of the global energy mix, but it is also essential in other markets. […]

Germany unable to move away from coal, despite green pledges

Germany unable to move away from coal, despite green pledges

Germany’s power sector remains heavily dependent on coal, despite the country’s move to close down its mines. This has raised the question that if one of the world’s largest economies cannot transition away from the use of coal despite an abundance of political will, how are other economies around the […]

Questions raised over conflict between US and World Bank

Questions raised over conflict between US and World Bank

With two divided approaches to investment in fossil fuels, increasing numbers of calls have arisen for the US to cut funding to the World Bank, which uses its funds to contradict the vision of today’s America. World Bank chief Jim Yong Kim has announced he plans to cut support for […]

Fossil fuel use unchanged in 40 years

Fossil fuel use unchanged in 40 years

Recent figures from the World Bank show that more than 80% of the world’s energy has come from fossil fuels every year since 1971. Over the least 45 years, most nuclear power plants were brought online and renewable energy farms have been built, yet demand for energy from fossil fuels […]

Trump administration backs reliable energy

Trump administration backs reliable energy

Coal and uranium could see significant growth in the US markets as the Department of Energy (DoE) opens public discussion around new regulations on power pricing, which encourage “reliability and resiliency”. The proposed rules will reward electricity producers that can maintain 90 days’ worth of supplies to ensure there are […]