[LINK] World Bank clean technology fund
stephen at melbpc.org.au
stephen at melbpc.org.au
Mon Feb 11 20:07:15 EST 2008
World Bank plans clean technology fund for poor. Sunday, February 10, 2008
LONDON -- Poor countries will soon receive billions of dollars from a new
World Bank fund to help them cut pollution, save energy and fight global
warming, the international organization said.
Developing countries such as India and China are already trying to reduce
their carbon emissions, mainly to save on energy, but have balked at doing
more without technological help from Europe, Japan and the United States.
Most carbon dioxide heating the planet now is a result of western
industrialization, and developing countries want financial help to cut
their own growing emissions.
"The fund will support publicly and privately financed projects that
deploy technologies that can cut emissions, increase efficiency and save
energy...(in) developing countries," the U.S., British and Japanese
finance ministers said in the Financial Times on Friday.
The World Bank clean technology fund would receive some of the US$2
billion in climate funds U.S. President George W. Bush announced last
month, and part of the 800 million pounds (US$1.56 billion) Britain
pledged to "environmental transformation" last year, Henry Paulson,
Alistair Darling and Fukushiro Nukaga said.
Japan last month announced a US$10 billion package to support developing
countries' fight against climate change but the finance ministers' letter
did not detail how much of this would be channeled through the World Bank.
In a written response to questions from Reuters, the World Bank said, "It
is expected that the formal announcement of the creation of the facility
will be made soon."
"In addition to discussions with donor countries, talks have been or will
shortly be undertaken with other interested parties, including other
agencies in the U.N. system and the private sector."
The World Bank statement referred to "a strategic climate investment
facility that would accelerate and scale up low carbon and climate-
resilient investments in developing countries".
The three finance ministers said the fund would not be an alternative to
U.N.-led talks to agree new emissions curbs to succeed measures now under
the Kyoto Protocol from 2013, a concern in Europe.
"While the idea of a clean tech fund is welcome it should not be used to
distract from or undermine the main event which is global negotiations on
reducing carbon emissions," an EU source told Reuters, who said agreeing
on binding emissions cuts was the top priority.
Note, Russia is thinking of joining ...
Russia weighing up possible membership in Clean Technology Fund
TOKYO. Feb 10 (Interfax) - Russia is weighing up the possibility of
joining a "clean technology fund" - an idea proposed by the United States,
Japan and Britain at a meeting in Tokyo, Russian Deputy Prime Minister and
Finance Minister Alexei Kudrin told the press.
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