Part of a Series
Consistent with this goal, the World Bank should issue annual reports detailing its energy spending, using categories consistent across organizations, with projects separated by fuel type and clearly identified as generation.
The World Bank has made some significant strides in its funding for renewable energy strategies, but its method of differentiating these projects from carbon-intensive methods of electricity generation remains obscure. Just as progress toward global carbon abatement
is not possible without a clear inventory of the current sources of pollution, progress by the World Bank on meeting its own climate related goals is not possible without a more accurate and transparent accounting of previous and current levels of funding.
Because meeting this goal would require a significant shift in how the bank understands its own categories of funding by fuel type, an independent external audit of this process should accompany the transition period to a new form of categorizing current levels of
funding. In turn, the bank should establish benchmarks for an appropriate increase in investment in low-carbon and carbon-neutral technologies consistent with the SFDCC.
For more information on this topic, please see:
- Development Funding Done Right by Kari Manlove, Andrew Light, Kate Gordon, and Richard W. Caperton