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New Report: World Bank Missing its Renewable Energy Targets; Climate change meeting to start in London
The World Bank is failing to play an effective leadership role on climate change and renewable energy, a new report from Friends of the Earth US reveals... The renewable and efficiency financing by the World Bank for fiscal year 2005 represents only 9 percent of all the Bank’s financing in the energy sector. Meanwhile, the Bank continues to finance fossil fuel pipelines and is making a move back into destructive large dams for energy generation in developing countries.