Coal funding hits record high

Was astonished by a recent snippet from Christian Aid:

Christian Aid has criticised a record high of US$4.4 billion in World Bank funding for coal power stations – a 40-fold increase over the past five years.

I can’t believe that at a time when we are facing the need for urgent action to avoid disastrous climate change, the World Bank is pouring more money into coal than renewable energy. Of course developing nations need to generate power for their growing populations, and renewable energy might be more expensive to set up, but surely it’s better in the long run? It’s things like this that destroy your faith in the existing order. Politicians and administrators alike seem so locked into the existing ways of doing things that they can’t or won’t change until it’s too late.

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There are 3 comments

  1. I’m not at all surprised. Here in the US polls show that peoples’ belief in climate change has gone down. The inflammatory rhetoric against anything progressive by either party is incredible. If it comes from the democratic party it’s slated as socialistic and an infringement on “state rights.” Conservatives seem determined to maintain the status quo in order to ensure immediate returns no matter the long term consequences.

  2. It is quite alarming, Charles. Here in England it is a little different – most people do accept that climate change is a reality, and politicians say they are very concerned about it. But the end result is exactly the same on both sides of the Atlantic: nothing gets done. I just watched the film The Age of Stupid, and found it a very good summary of the insanity we are living through.

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