International Energy Financing

Friends of the Earth’s current work is focused on ending international oil aid. Last year, a bill in the House last year would keep the US from giving money for oil and gas projects internationally from the World Bank Group and Export Credit Agencies. In coming months we will be continue to seek co-sponsors for that bill.

Previous work has looked at the destructive energy lending and energy portfolios at the World Bank Group, the Inter-American Development Bank, the Overseas Private Investment Corporation, and the U.S. Export Import Bank. Friends of the Earth initiated work challenging international institutions on the energy projects and other destructive environmental lending over 20 years ago, forcing the World Bank to adopt environmental policies and challenging egregious projects.


Reports:

October 2005

Power Failure: How the World Bank is Failing to Adequately Finance Renewable Energy for Development

In 2005, the World Bank Group emphasized the global leadership role it hoped to play in addressing climate change and financing for renewable energy. But this report shows that the World Bank group is missing a tremendous opportunity - and failing to fill an urgent need - by not adequately financing renewable energy and energy efficiency in developing countries.

If the World Bank Group is to deliver on the potential of renewable energy to promote development and poverty alleviation, it will have to dramatically increase its funding for renewable energy, both in absolute terms and as a proportion of its overall energy funding. Download the annex (pdf) of spreadsheets with specific World Bank Group project and lending information.

0ctober 2003

World Bank Group Support for Extractive Industries in Africa Poverty Reduction or Poverty Exacerbation?

September 2003

Gambling with People’s Lives: What the World Bank’s New "High-Risk/High-Reward" Strategy Means for the Poor and the Environment

August 2002

Marketing the Earth: The World Bank and Sustainable Development

July 2001

Risky Business: How the World Bank’s Insurance Arm Fails the Poor and Harms the Environment

March 1999

THE IMF: SELLING THE ENVIRONMENT SHORT