The EBRD and coal. Dirty business unnoticed
Publisher: CEE Bankwatch Network
Volume: 4 pages, pdf
Description:
In recent years there has been a systematic rise in the prominence of climate change in world politics. Politicians have increasingly been recognising the role of the international financial institutions not only as a channel for directing funds for adaptation and mitigation of climate change, but also as a problem, due to their continuing support for projects which increase emissions of greenhouse gases. The Intergovernmental Panel on Climate Change has no doubt that, in order to keep the global temperature increase below 2° celsius compared to pre-industrial levels and avoid catastrophic, runaway climate change, a dramatic reduction of emissions must happen very quickly: 80-95 percent reductions in the developed countries by 2050 and a substantial decrease compared to business as usual in the rest of the world.