World Bank Continues to Fund Climate Chaos, Despite Recognizing the Threat
By Allison Lee
In the last year alone, vulnerable populations have suffered massive damage from the impacts of a changing climate. "Super hurricanes" have torn through the Caribbean—turbocharged by abnormally warm waters—making islands uninhabitable.
Flooding, mudslides, wildfires, and avalanches have hit nearly every continent, killing thousands. These extreme weather events decimated basic infrastructure and destroyed livelihoods and economies. While not all of these individual events can be unequivocally linked to climate change, many are strengthened by it, and they are a harbinger of things to come in a world of climate disruption.
In keeping with their mission to end poverty, multilateral development banks (MDBs) have been vocal about the climate challenge. The World Bank has called climate change an "acute threat to global development that increases instability and contributes to poverty, fragility, and migration," and has noted that their client countries "recognize the threat and the opportunity: that the transition to a low-carbon, climate resilient economy can drive innovation, jobs, and growth."
Despite these words, a new briefing released Thursday shows that about a quarter of these banks' investments between fiscal years 2014 and 2016 flowed to fossil fuel infrastructure—$28 billion in total—directly at odds with efforts to fight climate change. In the 2016 fiscal year alone, multilateral development banks provided $9 billion in public finance to fossil fuel projects—a form of public subsidy. The majority of this $9 billion in finance actually occurred after the Paris agreement had already been reached in late 2015.
The World Bank Group and Asian Development Bank drove the 2016 increase in fossil fuel finance, including major support to exploration for oil and gas—some of the most egregious fossil fuel projects given that the world has more already-producing fossil fuel reserves than the climate can bear. Burning through the reserves in currently-operating oil and gas fields alone, even if coal use suddenly stopped tomorrow, would take us far beyond 1.5°C of warming.
Given these catastrophic implications, civil society groups are uniting to demand real climate leadership from the World Bank. The Big Shift campaign calls for an immediate end to coal and exploration finance, and an end to all MDB fossil finance by 2020, except for very rare circumstances where no other option is available to support energy access for the poor.
Multilateral development banks are making some progress in climate-proofing their portfolios, but not at a rate needed to achieve a structural shift to low carbon energy systems. The banks studied in Thursday's newly-released briefing reported an increase in their climate finance in FY16, and clean energy finance also increased in FY16, to $11.4 billion. However, a new E3G analysis of "green-to-brown" energy finance in bank portfolios argues that levels of climate and fossil finance have remained relatively constant from 2013 to 2015, and the reported increase comes from misclassification of fossil projects as climate finance—thus revealing little progress in scaling up climate finance or phasing out support for fossil fuel expansion.
Global energy markets are complex, as is the role of fossil fuels in economies and human societies. But the climate science is clear. Financing long-term fossil fuel infrastructure without innovative transition plans will set countries and the world up to fail. The poor and vulnerable will be hardest hit. Because public finance often crowds in additional investment and sends broader market signals, it is especially critical that these scarce resources are used to accelerate the clean energy transition.
At a time when super-hurricanes could become the new normal, multilateral development banks must no longer deny the contradiction of financing both climate mitigation and long-term fossil fuel infrastructure. "Climate leadership" is not leadership at all without concurrent, ambitious efforts towards a managed decline of fossil fuels.
Multilateral development banks—including the World Bank—should:
- Immediately end all finance for coal projects and for fossil fuel exploration activities;
- Commit to ending all fossil fuel financing by 2020, except for very rare circumstances where no other option is available to support energy access for the poor; and
- Shift internal incentives for staff and change the way projects are evaluated at MDBs to ensure these institutions lead the way in the transition to sustainable energy for all.
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Jean-Marc Neveu and Olivier Civil never expected to find themselves battling against disposable mask pollution.
When they founded their recycling start-up Plaxtil in 2017, it was textile waste they set their sights on. The project developed a process that turned fabrics into a new recyclable material they describe as "ecological plastic."
Mounting Piles of Waste<p>It is not only the streets of Chatellerault where pandemic pollution is piling-up, but also the world's beaches and oceans. Once there, they can take up to 450 years to degrade and disappear.</p><p>Esther Röling, co-organizer of the annual Adventure Clean Up Challenge held on Hong Kong Island, has seen this waste firsthand. In October the sports challenge pitted teams against one another in a competition to remove trash from 13 hard-to-reach coastal areas around the city.</p><p>They find tons of both disposable and reusable masks, said Röling. "You wonder how it ended up there. Was it just thrown on the ground? Or was it in a garbage bag that broke open?"</p><p>Almost 10,000 kilometers away in Antibes on the sunny French Riviera, it's a similar picture. For the past few months, divers and clean-up volunteers working with an ocean clean-up non-profit called Operation Mer Propre have been collecting an increasing number of masks found on land and in the sea.</p><p>"Since the beginning of the lockdown when we started to count, we've reached 800, 900, [and now in total] 1000 masks," said co-founder Joko Peltier. </p><p>According to <a href="https://unctad.org/news/growing-plastic-pollution-wake-covid-19-how-trade-policy-can-help" target="_blank">UN estimates</a>, up to 75% of all coronavirus-related plastic could end up as waste in oceans and landfills.</p>
The Limits of Recycling<p>Yet not all are convinced the recycling of this waste is possible on a global scale. </p><p>"What those citizen groups are doing is really beneficial but once they collect it, it should just go to a landfill or an incinerator. They shouldn't necessarily expect it to get recycled," said Jonathan Krones, an industrial ecologist and visiting assistant professor of environmental studies at Boston College.</p><p>That's because mask recycling programs like Plaxtil are few and far between and most don't have the benefit of a readily adaptable production process. </p><p>Even in countries with solid recycling infrastructure, he says, the system is designed to separate out specific types of waste like bottles or cardboard.</p><p>"I imagine that it would be technically feasible to develop a separation process to filter out masks, but there simply aren't enough of them to make that economical," he said.</p><p>Collection is a big hurdle, he adds. Since each mask only weighs a fraction of a gram and they're scattered on roads or mixed with other trash, it is difficult and costly. </p><p>"You need a lot of raw material of the right quality to make investing in the recycling technology and the recycling system worthwhile," he said.<span></span><br></p>
Hemp, Sugar Cane and Sustainable Alternatives<p>Some projects are instead addressing the material used to make masks.</p><p>French company Geochanvre have created a mask made primarily from hemp, while in Australia, researchers at the Queensland University of Technology are experimenting with a disposable product made from agricultural waste. </p><p>Biodegradable options are exciting alternatives to reduce the fossil fuels needed for the creation of plastic-based masks, said Krones, but they don't absolve the wearer from the responsibility of what happens afterwards. </p><p>Bio-based masks often need their own composing solutions, he explains, because in landfill they can produce high amounts of the greenhouse gas methane when anaerobic bacteria feeds on the organic material. Methane is known to be significantly more potent than carbon dioxide.</p><p>"I think as long as we have in our mind that we want to have disposability, we're going to have to wrestle with a variety of different sorts of environmental tradeoffs," he said, adding that reusable, fabric masks are the best option available to most people.</p><p>Precimask is developing a clear face covering with an optional visor made from hard plastic, designed to be long-lasting.<br></p><p>Air enters either side of the cheeks through a technology normally found in pool filters and car exhaust systems, said company spokeswoman Juliette Chambet.</p><p>"We wanted to make ceramic-based filters that would be washable and cleanable, which would allow them to be reused as many times as desired without having to buy a new consumable or produce waste," she said. </p><p>Ultimately, encouraging mask wearers to think about the entire lifecycle of a mask is key, explains Neveu. </p><p>"We want people who put on the masks to realize that they are also responsible for the waste, he said. "It's not inevitable that this [pandemic] will become an environmental catastrophe.</p><p><em>Reposted with permission from </em><em><a href="https://www.dw.com/en/covid-19-recycling-pollution-trash-pandemic/a-55707817" target="_blank">Deutsche Welle</a>.</em><a href="https://www.ecowatch.com/r/entryeditor/2649032193#/" target="_self"></a></p>
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