- under the guise of 'caring' about the environment. Reality is dawning on others.
- "Cancun: Anger grows at World Bank role in climate finance
As talks on long term climate finance for developing countries heat up today in Cancun, campaigners from around the world condemned rich countries’ efforts to carve out a
- special role for the World Bank in managing these funds.
Campaigners are furious that the World Bank is being promoted as the hub for climate finance. They insist that because the institution continues to bankroll dirty fossil fuel projects to the tune of $6.6 billion last year alone – they are in the wrong hands for the funds to fight climate change. They also cite the
Bank’s recent history of imposing climate finance as loans,
- creating new debt for already impoverished countries,
- increasing the role of the private sector and
- imposing economic policy conditions that increase inequality....
They are particularly angry that in an early draft of the negotiating text, the World Bank has been invited to serve as the interim trustee of a new global climate fund – and potentially its secretariat.
- In response, 200 organisations from around the world, including Jubilee South, Friends of the Earth International and the Pan African Climate Justice Alliance have signed an open letter to governments at the Cancun negotiations stating that the nature, structure, track record, and
- policies of the World Bank and other development banks
contradict what should be the principles of fair and effective climate finance.
- Ian Rivera, from Freedom from Debt Coalition (FDC) – Philippines said:
“It’s outrageous that the World Bank is being forced on to developing countries. Peoples of developing countries do not want to work with the World Bank in order to access much needed climate finance. Based on bitter experience, they know that the
- World Bank will increase their debts and poverty
- and will undermine their human rights and their independence.
That’s why we have launched a new campaign to stop the World Bank being imposed on developing countries who need climate finance to cope with climate change.”
Campaigners are also angry that they are not being allowed to campaign against the World Bank inside the UN talks. They have been told that permission will not be granted for any protest that mentions the World Bank, so they are being forced to march and protest away from the conference centre.
- Muhammad Reza, from KRUHA (People’s Coalition for the Right to Water)-Indonesia said:
“We are not allowed to even whisper the World Bank’s name in a negative context within the UN.
- This is silencing civil society in a space where civil society’s voice must be heard and must be listened to.”
The UK government is believed to be playing a key role in pushing for the World Bank to take the role of climate finance manager,
- and provides over 80 per cent of its climate finance through the World Bank, with 60 per cent as loans to developing countries.
Kirsty Wright, from the World Development Movement said: “Donor countries, in particular the UK, are unfairly pushing for climate finance to be channelled as loans through the World Bank. Rich countries are undemocratically imposing the World Bank into these talks. The current negotiating text goes further than the Copenhagen Accord, by
- specifically inviting the World Bank to become the manager of climate finance.
The World Bank cannot be trusted with climate finance given that it is a leader in investing in fossil fuel projects, like coal power stations. It’s absolutely disgraceful, and
- we will resist this strongly together with our allies from around the world.”"
"For more information: http://www.worldbankoutofclimate.org/"
Zoellick comes to the World Bank from:- GOLDMAN SACHS
- Prior to which he was a George W. Bush cabinet member
- Was considered for World Bank Post before being tapped to work for the State Dept.
- Vetted by Hank Paulsen of Goldman Sachs and TARP fame for the World Bank job...
- WHAT COULD GO WRONG?
- who went to work last year as an executive at Goldman Sachs.
"He has a proven record of working with counterparts around the world to get positive results," said Treasury Secretary Henry M. Paulson Jr., who oversaw the search to replace Wolfowitz.
- But the insider credentials that make Zoellick favored in the Bush White House, where loyalty carries enormous weight, could work against him at the bank as they did with his predecessor. ...
Zoellick -- not Wolfowitz -- was supposed to get the job two years ago: Associates say Zoellick had been tentatively selected as World Bank president, but then Condoleezza Rice claimed him as her deputy at the State Department. Zoellick reluctantly accepted, mainly out of loyalty,
- telling associates that he feared missing better opportunities later if he turned Rice down....
Though Zoellick is clearly part of the Bush administration's inner circle -- he was one of the "Vulcans," the core group of Bush foreign-policy advisers in the 2000 campaign -- he is not seen as ideologically rigid....
The World Bank-IMF "handshake agreement": "a handshake agreement that has for more than 60 years given the president of the United States the right to select the World Bank chief while
- allowing Europe to pick the head of the International Monetary Fund."...
- Billions have already been stolen by organized crime in carbon trading and billions more lost in corrupt UN 'climate' programs.
- 5/30/07, Washington Post: "Paulson acknowledged hearing sentiments in favor of that course [having open deliberation about candidates] as he conferred with governments. But he said the administration decided to give the board a single name to swiftly end the crisis....
"Given the turmoil, the vast majority of people I talked with wanted to move quickly," Paulson said.
- That rationale did not wash with those advocating a more open system."...
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