#extractiveindustries — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #extractiveindustries, aggregated by home.social.
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Leaving you all with an excerpt from an essay from 2022, before I re-boost posts from yesterday and boost quoted posts. TY to @MaQuest , @jblue , @rooftopjaxx and everyone who shared and/or chimed in! #ABetterWorldIsPossible !
Can Solarpunk Save the World?
The choice, then, is clear: solarpunk, or barbarism.
by Stacey Balkan, November 15, 2022
Excerpt: "Offering an imperfect but clear-eyed hope, rather than so many apocalyptic nightmares, is a key goal of solarpunk fiction. While many critics argue that radical change will only come about following the total collapse of Earth systems—in other words, the apocalypse imagined by popular climate fiction and much recent zombie fare—it has become increasingly evident that such alarmism possesses no political utility.
"Furthermore, in a discussion about climate and energy justice, we must acknowledge that, for many #Indigenous communities, the 'apocalypse' happened long ago: during the long 16th-century, when an expanding plantation system expedited the removal and enslavement of millions of #BIPOC persons in order to accommodate the #hyperconsumption of imperial centers like London.
"Apocalypse, as a geohistorical event or literary trope, is thus not central to solarpunk. That is, solarpunk doesn’t require an environmental apocalypse, because most solarpunk practitioners understand the material legacies of #SettlerColonialism as on ongoing apocalypse.
"Consequently, solarpunk worlds are not necessarily postapocalyptic (nor set in the future), but they are #postextractivist. Responding to the ethos of #extractive #capitalism — whereby the colonized exist as 'fuel … for the sake of someone else’s good life' — solarpunk imaginaries demand a thorough dismantling of fossil-fueled modernity and the material infrastructures (and attendant cultural expressions) that occasioned our comprehensive dependence on prehistoric carbon. Quite logically then, solarpunk also rejects the techno-utopian project of saving industrial modernity via increasingly hubristic geoengineering schemes."
Full essay:
https://www.publicbooks.org/can-solarpunk-save-the-world/#SolarPunkSunday #PostCapitalism #SharingEconomy #Earth4All #SettlerColonialism #ExtractiveIndustries #TechBros
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I can’t say I wasn’t aware of the greenwashing that’s going on on the back of the fuel tax credit (FTC) scheme, but it doesn’t hurt keeping up to date with the rorts purpetrated by our mining and extracting industry giants. This tax-payer funded rort, just keeps getting better and better despite the revelations in independent media. Not that our #Labor govt is inclined to stamp it out apparently. Seems like we can do both, meet our paultry emission targets AND pay big poluters to, well… polute some more. How inane is that. This is govt taking the rest of us for #numpties. This BS can’t be allowed to go on. We need #AlboPM to end the FTC schemes at least for big business if he’s not gutsy enough to cut the #Farmers out as well.
“The analysis by Naru Research found the top 18 FTC scheme recipients, mostly multinational iron ore mining and coal companies, collectively received $3.3 billion in credits but only faced an estimated $150 million in compliance costs under the Safeguard Mechanism.
“Australia’s biggest industrial greenhouse gas emitters are being paid to pollute,” stated researcher Tim Baxter.”
#SafeguardMechanism #ClimateAction #EmissionTargets #GlobalWarming #ClimateCrisis #FTC #ExtractiveIndustries #FossilFuels #CarbonReductionFramework #AusPol #EnvironmentUnderThreat #NetZero
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RE: https://rssfeed.media/@guardianfeeds/116904768457462914
What a bunch of hypocrites (#Labor #LNP parties)… let’s all be anti-nuclear wars but bugger the non proliferation treay (#NPT) we’ve committed to if there’s a commercial deal to be made. There’s a reason why #India is not an NFT signatory and it’s not because it doesn’t like #Inspections of nuclear facilities. It has to do with #Pakistan (also no a signatory) and the nuclear threat it represents. And even if it is likely that India will abide by its commitment, it just frees up the uranium they get from other sources from non-weapons programmes to be diverted to military use. So, yes, one way or another, #Australia will contribute to weaponised uranium in India. Well done ! Bunch of #NeoLiberal lapdogs. No doubt the #MiningSector Lobby (and #Gina?) has the govt’s ear.
#AusPol #AustralianUraniumSales #ExtractiveIndustries #NuclearWeapons
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Returning land to tribes is a step towards justice and #sustainability, say #Wabanaki, #EnvironmentalActivists
by Emily Weyrauch, December 1, 2020
"Last month, the Elliotsville Foundation gave back 735 acres to the #PenobscotNation, a parcel of land that connects two Penobscot-held land plots. While this return of land is a significant milestone in terms of the work of conservation groups in Maine, it also reflects a larger shift in thinking about land ownership, from property and caretaking toward #IndigenousStewardship.
"Before European settlers arrived, the land in Maine was stewarded by the Wabanaki people—a confederacy of five nations including Penobscot, #Passamaquoddy, #Maliseet, #Mikmaq and #Abenaki.
"Early treaties between Indigenous tribes and settlers were signed, but not upheld. Early Maine court cases set the precedent for #LandTheft. The state legally prohibited treaty obligations from being published in its constitution. Ever since the 1980 Maine Indian Claims Settlement Act, the state government has significantly limited tribes’ sovereignty and access to ancestral lands. Now, the Maine legislature is preparing to take up a bill that would make 22 law changes to the 1980 act to promote Wabanaki sovereignty and correct the impacts of the 40-year-old piece of legislation that placed Wabanaki people in a separate category from other federally-recognized tribes.
"Currently, a vast majority—90 percent—of land in Maine is privately owned, unlike in states like Nevada, Utah and Idaho, where the vast majority of land is owned by the U.S. government. Less than one percent of Maine land is owned by #Wabanaki people.
"To many Indigenous people, the legacy of white-led conservation groups in Maine and nationwide represents a failure of true environmental stewardship.
"'Across the country, land conservation groups and land trusts participated in depopulating, cutting off Indigenous access to certain lands and resources,' said Dr. Darren Ranco, associate professor of Anthropology and coordinator of Native American Research at the University of Maine.
"Dr. Ranco said that the history of environmental protection in the U.S. starts in the 19th century and focuses on two movements: conservation and preservation.
" 'On the one hand, you have people saying, ‘You want to use the public lands wisely’ — and that often led to extreme forms of exploitation through oil and gas contracts. The other side of it was, ‘Let’s just keep it wild and preserve it as-is, as a wild space,' " said Dr. Ranco, who is a member of the Penobscot Nation. 'Ironically, both of those approaches in the 19th century sought to displace Indigenous people.'
" 'A lot of the [conservation] practices in the past actually marginalized native people, and didn’t allow for their voice to be heard, and discouraged their voices,' said Suzanne Greenlaw, a #Maliseet forestry scientist and PhD student at the University of Maine.
" 'The native approach is very much in the center—we do harvest, but we harvest in a sustainable way that actually forms a relationship with the resource,” said Greenlaw, who conducts research on the sustainable harvesting of sweetgrass by Indigenous people.
"In fact, the way that Indigenous people understand land is markedly different from western ideas of ownership.
" 'The idea of private property puts us in this framing where the land, the water, and the air, and the animals, and everything else—all our relations—are meant to serve us, they are things below us, things to dominate and control and take ownership over,' said Lokotah Sanborn, a Penobscot activist.
" 'For us, it would be absurd to say ‘I own my grandmother,’ or ‘I own my cousin,’ or ‘I own my brother.’ You don’t talk about things like that. And so when we’re talking about land ownership, it’s that same idea —these are our relations, these are things that hold a lot of significance to us,' said Sanborn.
"While the planet’s Indigenous people make up less than five percent of the global population, they manage 25 percent of its land and support 80 percent of global biodiversity, research shows.
" 'We’ve been led down this path toward climate catastrophe and the extinction of millions of species, all to drive #ExtractiveIndustries,' said Sanborn. 'If we wish to reverse these things, we need to give land back into the hands of Indigenous peoples and to respect our ability to protect those lands,' said Sanborn.
"This growing recognition of Wabanaki #stewardship is part of the mission of First Light, a group that serves to connect Wabanaki people with conservation organizations who seek to expand Wabanaki access to land. Currently, 50 organizations are participating, including #MaineAudubon and #TheNatureConservancy.
"Lucas St. Clair, president of the Elliotsville Foundation, participated in First Light’s year-long educational program before fulfilling a request by #JohnBanks, Natural Resources Director for the Penobscot Nation, to return the 735-acre property to the Penobscot Nation. This comes four years after the foundation gave 87,500 acres of land to the federal government for the establishment of Katahdin Woods and Waters National Monument. St. Clair said the foundation currently holds 35,000 acres of land.
" 'In the grand scheme of things, this is not a lot of land,' said St. Clair, about the foundation’s recent transfer of 735 acres. 'It was more about justice, relationship-building and awareness.'
" 'You see this move toward Indigenous knowledge and practices of management and conservation that have existed for hundreds of years, and this possibility with land conservation groups and Wabanaki people having a more central role in understanding and managing the lands is coming to the fore,' said Dr. Ranco.
"And while organizations undergo the learning and transformational processes that precede giving back land, and as the legislature and courts are taking up questions of Wabanaki sovereignty and stewardship, people are working on the ground everyday to re-imagine relationships with land.
"Alivia Moore, a Penobscot community organizer with the #EasternWoodlands #Rematriation collective, said that a crucial part of the work of expanding Indigenous access to land in Maine is recognizing and restoring the history of matriarchal Indigenous societies.
" 'To restore land to Indigenous #matriarchies is to make sure that everybody has what they need on and from the earth. There’s enough for everyone,' said Moore
"With #EasternWoodlandsRematriation, Indigenous people are growing their connections to #RegenerativeFoodSystems. Whereas cultural use agreements are more formal ways Indigenous people can access resources from the private land of people and organizations, Moore said other relationships can form and strengthen even informally.
"Years ago, a white farmer offered land to Indigenous women to use for farming to restore their connection to the land. That has been an ongoing relationship that became one of mutual exchange of information and resources, shared learning and shared meals, said Moore.
"The movement to give land back to Indigenous stewardship is not confined to a single organization, legal battle, or project. For Indigenous people—and a growing number of environmental organizations—it is a step toward justice and a sustainable future.
"'Land back is not just about righting past wrongs. The point of land back is that it’s the future, if we wish to adequately address and avoid further global devastation from climate change,' said Sanborn."
#LandBack #WabanakiConfederacy #Wabanakik #WabanakiAlliance #MaineFirstNations #Maine #TraditionalEcologicalKnowledge #IndigenousPeoplesDay
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From the Bretton Woods Project: #Forests
"Finally, the [#WorldBank] ’s #forest policy and #WeakSafeguards on #ForestProtection have also been observed to infringe the rights of local communities and have failed to protect one of the planet’s most important ‘#CarbonSinks’ (see Observer Spring 2017). CSOs have called for the Bank to open up its Forest Notes – which are meant to guide the interface between its lending and forests – to consultation (see Observer Winter 2017-2018). CSOs have also been highly critical of one of the forest initiatives the Bank manages, the Forest Carbon Partnership Facility (FCPF), a climate investment fund that supports Reducing Emissions from Deforestation and Forest Degradation (REDD) projects. A March 2017 post in REDD Monitor called the FCPF, 'the most cost-inefficient tree-saving scheme ever,' owing to high administrative costs between fiscal years 2009-2015 absorbing 64 per cent of FCFP’s $55 million expenditure. More generally, the Bank’s overall approach to lending has undermined the protection of vital natural ecosystems in borrower countries. As noted by Bruce Rich in his influential 2013 book, Foreclosing the Future: The World Bank and the Politics of Environmental Destruction, 'When one examines the failures to conserve ecosystems, or to mitigate environmental impacts of development, one finds that failed governance at all levels is almost invariably at the root. …Many of [the Bank’s] problems are associated with a dysfunctional institutional culture in which the relentless pressure to move money out the door, even in violation of the Bank’s own policies and rules, often overrides all other considerations.'"
2017: World Bank policy lending undermines climate goals
"One of the main problems is the Bank’s refusal to adequately assess the social and environmental risks of their policy loans" - Harlem Mariño, Derechos, Ambiente y Recursos Naturales
6 April 2017
"A late January report by US-based NGO Bank Information Center (BIC), together with partners in Egypt, Indonesia, Mozambique and Peru, claimed that the Bank is undermining its climate commitments by supporting investment incentives for coal, gas and oil projects through its development policy financing (DPF) mechanism. DPF accounts for approximately a third of all Bank funding and provides resources for programmes of policy and institutional reforms that are agreed by the Bank and the borrowing government (see Update 82). The report argued that the Bank’s financing through DPF contradicts the internationally agreed and Bank-supported goal of limiting the global average temperature increase to 2°C, which according to the Intergovernmental Panel on Climate Change would require that at least two-thirds of existing fossil fuel reserves are left in the ground.
"BIC’s report looked at the Bank’s DPF measures in four countries: Egypt, Indonesia, Mozambique and Peru. It found that DPF introduced subsidies for coal in all countries, apart from Peru. For example, the report argued that Bank-supported subsidies for coal infrastructure have helped Indonesia become one of the world’s top coal exporters. It found some DPF support for renewable energy, but argued that the Bank could do more given that all countries examined have potential to develop renewable energy. For example, while Peru’s DPF provides subsidies to public-private partnerships to develop oil and gas infrastructure, it does not include plans for solar or wind power projects."
https://www.brettonwoodsproject.org/2017/04/world-bank-policy-lending-undermines-climate-goals/
#FCPF #REDD #Ecosystems #ProtectTheForests #EnvironmentalDestruction #ForestDegradation #Deforestation #EnvironmentalImpacts #Egypt #Indonesia #Mozambique #Peru #LeaveItInTheGround #Coal #BigOilAndGas #ExtractiveIndustries #Exploitation #EnvironmentalImpacts
#HumanRights #ParisAgreement
#ParisClimateAgreement #BigOilAndGas #CorporateColonialism #IMFLoanSharks #RenewablesNow -
From the Bretton Woods Project: #Forests
"Finally, the [#WorldBank] ’s #forest policy and #WeakSafeguards on #ForestProtection have also been observed to infringe the rights of local communities and have failed to protect one of the planet’s most important ‘#CarbonSinks’ (see Observer Spring 2017). CSOs have called for the Bank to open up its Forest Notes – which are meant to guide the interface between its lending and forests – to consultation (see Observer Winter 2017-2018). CSOs have also been highly critical of one of the forest initiatives the Bank manages, the Forest Carbon Partnership Facility (FCPF), a climate investment fund that supports Reducing Emissions from Deforestation and Forest Degradation (REDD) projects. A March 2017 post in REDD Monitor called the FCPF, 'the most cost-inefficient tree-saving scheme ever,' owing to high administrative costs between fiscal years 2009-2015 absorbing 64 per cent of FCFP’s $55 million expenditure. More generally, the Bank’s overall approach to lending has undermined the protection of vital natural ecosystems in borrower countries. As noted by Bruce Rich in his influential 2013 book, Foreclosing the Future: The World Bank and the Politics of Environmental Destruction, 'When one examines the failures to conserve ecosystems, or to mitigate environmental impacts of development, one finds that failed governance at all levels is almost invariably at the root. …Many of [the Bank’s] problems are associated with a dysfunctional institutional culture in which the relentless pressure to move money out the door, even in violation of the Bank’s own policies and rules, often overrides all other considerations.'"
2017: World Bank policy lending undermines climate goals
"One of the main problems is the Bank’s refusal to adequately assess the social and environmental risks of their policy loans" - Harlem Mariño, Derechos, Ambiente y Recursos Naturales
6 April 2017
"A late January report by US-based NGO Bank Information Center (BIC), together with partners in Egypt, Indonesia, Mozambique and Peru, claimed that the Bank is undermining its climate commitments by supporting investment incentives for coal, gas and oil projects through its development policy financing (DPF) mechanism. DPF accounts for approximately a third of all Bank funding and provides resources for programmes of policy and institutional reforms that are agreed by the Bank and the borrowing government (see Update 82). The report argued that the Bank’s financing through DPF contradicts the internationally agreed and Bank-supported goal of limiting the global average temperature increase to 2°C, which according to the Intergovernmental Panel on Climate Change would require that at least two-thirds of existing fossil fuel reserves are left in the ground.
"BIC’s report looked at the Bank’s DPF measures in four countries: Egypt, Indonesia, Mozambique and Peru. It found that DPF introduced subsidies for coal in all countries, apart from Peru. For example, the report argued that Bank-supported subsidies for coal infrastructure have helped Indonesia become one of the world’s top coal exporters. It found some DPF support for renewable energy, but argued that the Bank could do more given that all countries examined have potential to develop renewable energy. For example, while Peru’s DPF provides subsidies to public-private partnerships to develop oil and gas infrastructure, it does not include plans for solar or wind power projects."
https://www.brettonwoodsproject.org/2017/04/world-bank-policy-lending-undermines-climate-goals/
#FCPF #REDD #Ecosystems #ProtectTheForests #EnvironmentalDestruction #ForestDegradation #Deforestation #EnvironmentalImpacts #Egypt #Indonesia #Mozambique #Peru #LeaveItInTheGround #Coal #BigOilAndGas #ExtractiveIndustries #Exploitation #EnvironmentalImpacts
#HumanRights #ParisAgreement
#ParisClimateAgreement #BigOilAndGas #CorporateColonialism #IMFLoanSharks #RenewablesNow -
From the Bretton Woods Project: #Forests
"Finally, the [#WorldBank] ’s #forest policy and #WeakSafeguards on #ForestProtection have also been observed to infringe the rights of local communities and have failed to protect one of the planet’s most important ‘#CarbonSinks’ (see Observer Spring 2017). CSOs have called for the Bank to open up its Forest Notes – which are meant to guide the interface between its lending and forests – to consultation (see Observer Winter 2017-2018). CSOs have also been highly critical of one of the forest initiatives the Bank manages, the Forest Carbon Partnership Facility (FCPF), a climate investment fund that supports Reducing Emissions from Deforestation and Forest Degradation (REDD) projects. A March 2017 post in REDD Monitor called the FCPF, 'the most cost-inefficient tree-saving scheme ever,' owing to high administrative costs between fiscal years 2009-2015 absorbing 64 per cent of FCFP’s $55 million expenditure. More generally, the Bank’s overall approach to lending has undermined the protection of vital natural ecosystems in borrower countries. As noted by Bruce Rich in his influential 2013 book, Foreclosing the Future: The World Bank and the Politics of Environmental Destruction, 'When one examines the failures to conserve ecosystems, or to mitigate environmental impacts of development, one finds that failed governance at all levels is almost invariably at the root. …Many of [the Bank’s] problems are associated with a dysfunctional institutional culture in which the relentless pressure to move money out the door, even in violation of the Bank’s own policies and rules, often overrides all other considerations.'"
2017: World Bank policy lending undermines climate goals
"One of the main problems is the Bank’s refusal to adequately assess the social and environmental risks of their policy loans" - Harlem Mariño, Derechos, Ambiente y Recursos Naturales
6 April 2017
"A late January report by US-based NGO Bank Information Center (BIC), together with partners in Egypt, Indonesia, Mozambique and Peru, claimed that the Bank is undermining its climate commitments by supporting investment incentives for coal, gas and oil projects through its development policy financing (DPF) mechanism. DPF accounts for approximately a third of all Bank funding and provides resources for programmes of policy and institutional reforms that are agreed by the Bank and the borrowing government (see Update 82). The report argued that the Bank’s financing through DPF contradicts the internationally agreed and Bank-supported goal of limiting the global average temperature increase to 2°C, which according to the Intergovernmental Panel on Climate Change would require that at least two-thirds of existing fossil fuel reserves are left in the ground.
"BIC’s report looked at the Bank’s DPF measures in four countries: Egypt, Indonesia, Mozambique and Peru. It found that DPF introduced subsidies for coal in all countries, apart from Peru. For example, the report argued that Bank-supported subsidies for coal infrastructure have helped Indonesia become one of the world’s top coal exporters. It found some DPF support for renewable energy, but argued that the Bank could do more given that all countries examined have potential to develop renewable energy. For example, while Peru’s DPF provides subsidies to public-private partnerships to develop oil and gas infrastructure, it does not include plans for solar or wind power projects."
https://www.brettonwoodsproject.org/2017/04/world-bank-policy-lending-undermines-climate-goals/
#FCPF #REDD #Ecosystems #ProtectTheForests #EnvironmentalDestruction #ForestDegradation #Deforestation #EnvironmentalImpacts #Egypt #Indonesia #Mozambique #Peru #LeaveItInTheGround #Coal #BigOilAndGas #ExtractiveIndustries #Exploitation #EnvironmentalImpacts
#HumanRights #ParisAgreement
#ParisClimateAgreement #BigOilAndGas #CorporateColonialism #IMFLoanSharks #RenewablesNow -
From the Bretton Woods Project: #Forests
"Finally, the [#WorldBank] ’s #forest policy and #WeakSafeguards on #ForestProtection have also been observed to infringe the rights of local communities and have failed to protect one of the planet’s most important ‘#CarbonSinks’ (see Observer Spring 2017). CSOs have called for the Bank to open up its Forest Notes – which are meant to guide the interface between its lending and forests – to consultation (see Observer Winter 2017-2018). CSOs have also been highly critical of one of the forest initiatives the Bank manages, the Forest Carbon Partnership Facility (FCPF), a climate investment fund that supports Reducing Emissions from Deforestation and Forest Degradation (REDD) projects. A March 2017 post in REDD Monitor called the FCPF, 'the most cost-inefficient tree-saving scheme ever,' owing to high administrative costs between fiscal years 2009-2015 absorbing 64 per cent of FCFP’s $55 million expenditure. More generally, the Bank’s overall approach to lending has undermined the protection of vital natural ecosystems in borrower countries. As noted by Bruce Rich in his influential 2013 book, Foreclosing the Future: The World Bank and the Politics of Environmental Destruction, 'When one examines the failures to conserve ecosystems, or to mitigate environmental impacts of development, one finds that failed governance at all levels is almost invariably at the root. …Many of [the Bank’s] problems are associated with a dysfunctional institutional culture in which the relentless pressure to move money out the door, even in violation of the Bank’s own policies and rules, often overrides all other considerations.'"
2017: World Bank policy lending undermines climate goals
"One of the main problems is the Bank’s refusal to adequately assess the social and environmental risks of their policy loans" - Harlem Mariño, Derechos, Ambiente y Recursos Naturales
6 April 2017
"A late January report by US-based NGO Bank Information Center (BIC), together with partners in Egypt, Indonesia, Mozambique and Peru, claimed that the Bank is undermining its climate commitments by supporting investment incentives for coal, gas and oil projects through its development policy financing (DPF) mechanism. DPF accounts for approximately a third of all Bank funding and provides resources for programmes of policy and institutional reforms that are agreed by the Bank and the borrowing government (see Update 82). The report argued that the Bank’s financing through DPF contradicts the internationally agreed and Bank-supported goal of limiting the global average temperature increase to 2°C, which according to the Intergovernmental Panel on Climate Change would require that at least two-thirds of existing fossil fuel reserves are left in the ground.
"BIC’s report looked at the Bank’s DPF measures in four countries: Egypt, Indonesia, Mozambique and Peru. It found that DPF introduced subsidies for coal in all countries, apart from Peru. For example, the report argued that Bank-supported subsidies for coal infrastructure have helped Indonesia become one of the world’s top coal exporters. It found some DPF support for renewable energy, but argued that the Bank could do more given that all countries examined have potential to develop renewable energy. For example, while Peru’s DPF provides subsidies to public-private partnerships to develop oil and gas infrastructure, it does not include plans for solar or wind power projects."
https://www.brettonwoodsproject.org/2017/04/world-bank-policy-lending-undermines-climate-goals/
#FCPF #REDD #Ecosystems #ProtectTheForests #EnvironmentalDestruction #ForestDegradation #Deforestation #EnvironmentalImpacts #Egypt #Indonesia #Mozambique #Peru #LeaveItInTheGround #Coal #BigOilAndGas #ExtractiveIndustries #Exploitation #EnvironmentalImpacts
#HumanRights #ParisAgreement
#ParisClimateAgreement #BigOilAndGas #CorporateColonialism #IMFLoanSharks #RenewablesNow -
From the Bretton Woods Project: #Forests
"Finally, the [#WorldBank] ’s #forest policy and #WeakSafeguards on #ForestProtection have also been observed to infringe the rights of local communities and have failed to protect one of the planet’s most important ‘#CarbonSinks’ (see Observer Spring 2017). CSOs have called for the Bank to open up its Forest Notes – which are meant to guide the interface between its lending and forests – to consultation (see Observer Winter 2017-2018). CSOs have also been highly critical of one of the forest initiatives the Bank manages, the Forest Carbon Partnership Facility (FCPF), a climate investment fund that supports Reducing Emissions from Deforestation and Forest Degradation (REDD) projects. A March 2017 post in REDD Monitor called the FCPF, 'the most cost-inefficient tree-saving scheme ever,' owing to high administrative costs between fiscal years 2009-2015 absorbing 64 per cent of FCFP’s $55 million expenditure. More generally, the Bank’s overall approach to lending has undermined the protection of vital natural ecosystems in borrower countries. As noted by Bruce Rich in his influential 2013 book, Foreclosing the Future: The World Bank and the Politics of Environmental Destruction, 'When one examines the failures to conserve ecosystems, or to mitigate environmental impacts of development, one finds that failed governance at all levels is almost invariably at the root. …Many of [the Bank’s] problems are associated with a dysfunctional institutional culture in which the relentless pressure to move money out the door, even in violation of the Bank’s own policies and rules, often overrides all other considerations.'"
2017: World Bank policy lending undermines climate goals
"One of the main problems is the Bank’s refusal to adequately assess the social and environmental risks of their policy loans" - Harlem Mariño, Derechos, Ambiente y Recursos Naturales
6 April 2017
"A late January report by US-based NGO Bank Information Center (BIC), together with partners in Egypt, Indonesia, Mozambique and Peru, claimed that the Bank is undermining its climate commitments by supporting investment incentives for coal, gas and oil projects through its development policy financing (DPF) mechanism. DPF accounts for approximately a third of all Bank funding and provides resources for programmes of policy and institutional reforms that are agreed by the Bank and the borrowing government (see Update 82). The report argued that the Bank’s financing through DPF contradicts the internationally agreed and Bank-supported goal of limiting the global average temperature increase to 2°C, which according to the Intergovernmental Panel on Climate Change would require that at least two-thirds of existing fossil fuel reserves are left in the ground.
"BIC’s report looked at the Bank’s DPF measures in four countries: Egypt, Indonesia, Mozambique and Peru. It found that DPF introduced subsidies for coal in all countries, apart from Peru. For example, the report argued that Bank-supported subsidies for coal infrastructure have helped Indonesia become one of the world’s top coal exporters. It found some DPF support for renewable energy, but argued that the Bank could do more given that all countries examined have potential to develop renewable energy. For example, while Peru’s DPF provides subsidies to public-private partnerships to develop oil and gas infrastructure, it does not include plans for solar or wind power projects."
https://www.brettonwoodsproject.org/2017/04/world-bank-policy-lending-undermines-climate-goals/
#FCPF #REDD #Ecosystems #ProtectTheForests #EnvironmentalDestruction #ForestDegradation #Deforestation #EnvironmentalImpacts #Egypt #Indonesia #Mozambique #Peru #LeaveItInTheGround #Coal #BigOilAndGas #ExtractiveIndustries #Exploitation #EnvironmentalImpacts
#HumanRights #ParisAgreement
#ParisClimateAgreement #BigOilAndGas #CorporateColonialism #IMFLoanSharks #RenewablesNow