Today’s budget missed the opportunity to make meaningful cuts to wasteful handouts to some of the wealthiest, most polluting fossil fuel companies on the planet.
Natural Gas
World Bank Shies Away from Coal But Embraces Natural Gas
Yesterday, the World Bank’s Executive Directors agreed to a new ‘Energy Sector Directions Paper’ which lays out the expected course for the Bank’s future energy lending. While there are some encouraging indications that the Bank will move away from coal financing, the increased emphasis on natural gas and large hydropower is likely to undermine the strategy’s stated objective of increasing energy access for the poor.