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News articles on world bank
Mongabay.com news articles on world bank in blog format. Updated regularly.
(06/25/2014) Two new reports this week look at the economics of global warming. The first, Risky Business, tallies the cost of climate change to the U.S., including tens-of-billions lost to destruction of coastal property, crop failures, drought, wildfires, and heatwaves. In contrast, the second report, by the World Bank, turns climate change economics on its head.
Africa to build world's largest dam, but who will benefit?
(12/17/2013) The Congo River traverses the continent of Africa, ending its journey in the Democratic Republic of Congo (DRC) where it spills 1.5 million cubic feet per second into the Atlantic Ocean. Now, plans are underway to harness this tremendous force of water in what promises to be the world's largest hydropower scheme, The Grand Inga.
Indigenous groups protest hydropower congress as controversy hits meeting in Malaysia
(05/22/2013) The opening of the International Hydropower Association (IHA) World Congress in the Malaysian state of Sarawak was marred today by indigenous protests and controversy after a local indigenous leader was barred from attending a pre-conference workshop. Over 300 people from local indigenous people protested the ongoing construction of around a dozen mega-dams in the state that threaten to flood traditional lands, force villages to move, and upend lives in the state. The Sarawak hydropower plans are some of the most controversial in the world—making the choice of Kuching, Sarawak for the IHA meeting an arguably ironic one—with critics contending that the dams are have been mired in political corruption, including kickbacks and bribes. IHA brings together dam builders, banks, and various related organizations worldwide every two years.
Activists blast World Bank on continued support of industrial rainforest logging
(02/11/2013) Two environmental activist groups blasted the World Bank over its reported decision to block a probe into its support of industrial-scale rainforest logging.
World Bank's forestry investments failing to meet conservation, rights, and anti-poverty goals, finds internal audit
(01/30/2013) The World Bank's investments in forestry over the past decade have failed to meet key objectives of reducing poverty, preserving forests, slowing climate change, or benefitting local communities, according to a report developed by its internal auditing body.
World Bank REDD+ forest carbon fund gets $180m injection
(01/11/2013) The World Bank's forest carbon fund got a $180 million injection from Finland, Germany and Norway, reports Point Carbon.
World Bank: 4 degrees Celsius warming would be miserable
(11/20/2012) A new report by the World Bank paints a bleak picture of life on Earth in 80 years: global temperatures have risen by 4 degrees Celsius spurring rapidly rising sea levels and devastating droughts. Global agriculture is under constant threat; economies have been hampered; coastal cities are repeatedly flooded; coral reefs are dissolving from ocean acidification; and species worldwide are vanishing. This, according to the World Bank, is where we are headed even if all of the world's nations meet their pledges on cutting greenhouse gas emissions. However, the report also notes that with swift, aggressive action it's still possible to ensure that global temperatures don't rise above 4 degrees Celsius.
Artificial 'misting system' allows vanished toad to be released back into the wild
(11/01/2012) In 1996 scientists discovered a new species of dwarf toad: the Kihansi spray toad (Nectophrynoides asperginis). Although surviving on only two hectares near the Kihansi Gorge in Tanzania, the toads proved populous: around 17,000 individuals crowded the smallest known habitat of any vertebrate, living happily off the moist micro-habitat created by spray from adjacent waterfalls. Eight years later and the Kihansi spray toad was gone. Disease combined with the construction of a hydroelectric dam ended the toads' limited, but fecund, reign.
World Bank agrees to fund project related to controversial Gibe III dam
(09/27/2012) Originally refusing to provide funding to Ethiopia's controversial Gibe III hydroelectric dam, the World Bank has now announced plans to fund the power lines that will carry generated electricity away from it. In their official statement they report that the lines will "connect Ethiopia’s electrical grid with Kenya’s, create power-sharing between the two countries, reduce energy costs, promote sustainable and renewable power generation [and] better protect the region’s environment...eventually benefiting 212 million people in five countries."
Interview with the new CEO of The GEF, the world's largest funder of environmental projects
(07/30/2012) The Global Environment Facility or 'GEF' unites 182 government members, in partnership with multiple international institutions, nongovernmental organizations, and the private sector, with the goal of addressing global environmental issues. The following is an interview with Dr. Naoko Ishii of Japan, who was recently elected as the new CEO and Chairperson of the Global Environment Facility, by the unanimous decision of the GEF's governing council.
Fight illegal logging by going after criminal masterminds
(03/22/2012) Illegal logging has never been a high priority for criminal investigators, but a new report by the World Bank says it should be. Worldwide, the illegal logging epidemic is decimating natural resources, imperiling biodiversity, emitting carbon, and undercutting the livelihoods of local and indigenous people. But the lucrative funds from these ill-gotten gains is just as problematic: top organized criminals rake in $10-15 billion annually from illegal logging and largely use the funds to drive corruption.
Caution urged in sale of Madagascar's illegal timber stockpiles
(02/03/2012) Confiscated timber stocks in Madagascar must be managed in a "transparent manner" to deter future illegal logging and boosting demand for endangered rainforest timber, says a letter published by a coalition of NGOs.
Palm oil lobby attacks World Bank's new social and environmental safeguards
(04/18/2011) Groups funded by the palm oil industry lashed out at the World Bank's new framework to resume lending to the palm oil sector.
World Bank proposes to limit funding to coal plants
(04/05/2011) Following years of criticism from environmentalists and some governments the World Bank has proposed new rules regarding carbon-intensive coal plants, reports the Guardian. The new rules would allow lending for coal-fired plants only to the world's poorest nations and would only lend after other alternatives, such as renewable energy, had been ruled out.
World Bank to resume lending to palm oil sector after 18-month moratorium
(04/03/2011) After a two-year moratorium triggered by complaints over social conflict between local communities and palm oil companies, the World Bank has announced the adoption of a framework to restart lending to the palm oil sector. The framework was developed after months of consultations with stakeholders, including the private sector, NGOs, farmers, indigenous communities, development experts, and governments.
Serengeti road project opposed by 'powerful' tour company lobby
(03/16/2011) Government plans to build a road through Serengeti National Park came up against more opposition this week as the Tanzanian Association of Tour Operators (Tato) came out against the project, reports The Citizen. Tato, described as powerful local lobby group by the Tanzanian media, stated that the road would hurt tourism and urged the government to select a proposed alternative route that would by-pass the park. Tato's opposition may signal a shift to more local criticism of the road as opposition against the project has come mostly from international environmentalists, scientists, and governments.
Congo legalizes 15 logging concessions, prompting concern that moratorium will be lifted next
(03/13/2011) The Democratic Republic of Congo (DRC) has legalized 15 logging concessions that were previously listed as illegal under an effort to clean up the industry of widespread corruption. The environmental group, Greenpeace, fears that the move precedes an announcement to lift the DRC's moratorium on granting any new logging concessions, which would open the Congo Basin to widespread logging.
Leaked government study: road will damage Serengeti wildlife, despite president's assurances
(02/10/2011) Tanzania's President, Jakaya Kikwete, today gave promises that his proposed road project, which will bisect the Serengeti plains, would not hurt one of the world's most famed parks and one of its last great land migrations. "The Serengeti is a jewel of our nation as well as for the international community. […] We will do nothing to hurt the Serengeti and we would like the international community to know this," Kikwete said in a statement reported by the AFP. However, a government environment impact study, leaked to the conservation organization Serengeti Watch, paints a very different picture of how the road will damage the Serengeti. The report includes warnings that the road will 'limit' the migration of the plains' 1.5 million wildebeest and 500,000 other herbivores including zebra.
Scientists: road through Serengeti would likely end wildebeest migration
(02/02/2011) A new study finds that a proposed road cutting through Serengeti National Park would likely have devastating consequences for one of the world's last great migrations. According to the study the road itself could lead to a 35% loss in the famed park's migrating wildebeest herd, essentially cutting the herd down by over half a million animals. Despite such concerns, and the availability of an alternative route that would bypass the Serengeti plains altogether, the Tanzanian government has stated it is going ahead with the controversial road.
World Bank offers to save Serengeti from bisecting road
(01/31/2011) The World Bank has offered to help fund an alternative route for a planned road project that would otherwise cut through Tanzania's world famous Serengeti National Park, according to the German-based NGO Nature and Biodiversity Conservation Union (NABU). When announced last year, the road project raised protests from environmentalists, scientists, and Tanzanian tour companies, but the Tanzanian government refused to shift plans to an alternative southern route for the road, thereby bypassing the park.
Golden toad saved from brink of extinction
(08/17/2010) One hundred Kihansi Spray Toads have been flown to their native Tanzania after a close brush with extinction, reports the Wildlife Conservation Society (WCS).
World Bank, European governments finance illegal timber exports from Madagascar
(01/11/2010) While Madagascar's current government has drawn sharp criticism from the international community for its failure to prevent the environmental destruction of recent months, France, Holland, Morocco, and the World Bank have all been implicated in financing illegal logging operations in Madagascar's national parks over the past year. Even as foreign governments condemned the surge in illegal logging last year, many--either directly or through institutions they support--are shareholders in the very banks that have financed the export of illegal lumber from Madagascar's SAVA region. The Bank of Africa Madagascar, for instance, is part owned by Proparco, a subsidiary of the Agence Française du Développement, as well as the World Bank's International Finance Corporation, Dutch development bank FMO, and the Banque Marocaine du Commerce Extérieur. Société Générale and Crédit Lyonnais, both part-owned by the French government, have also provided loans to illegal timber traders.