Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 338

Development Banks Must Embrace a Sustainable Future

Posted by fidest press agency su lunedì, 26 aprile 2010

Despite the increase in sustainable energy initiatives by Multilateral Development Banks (MDBs), a limited number of loans financed by the World Bank, Inter-American Development Bank (IDB) and Asian Development Bank (ADB) consistently support sustainable energy investments in developing countries.The report finds that despite increased support for low carbon energy technologies, many loan programs do not address aspects of electricity policy, regulation, institutional capacity and governance that would enable investments in sustainable energy over the long-term. The findings are based on a framework developed by WRI that builds on the Electricity Governance Indicator Toolkit—a set of indicators benchmarking best practice and promoting accountability in the electricity sector.The report makes the case for systematic attention to the following issues:Long-term Integrated Electricity Planning Policies and Regulations Encouraging Energy Efficiency Policies and Regulations Promoting Renewable Energy Pricing Structures Encouraging Efficiency and Reducing consumption Subsidy Reform to Reveal the True Costs of Fossil Fuesls and Promote the Viability of Sustainable Energy Options Executive Agencies’ Capacity for Sustainable Electricity Regulators’ Capacity to Oversee Implementation of Sustainable Electricity Policy Utilities’ Capacity to Promote Energy Efficiency and Renewables Transparency of Policy, Planning, and Regulatory Processes for Electricity Stakeholders’ Engagement in Policy, Planning, and Regulatory Processes A relatively small number of MDB projects address the elements of sustainable energy listed above. Of the 31 World Bank loans reviewed, only 10 consider 5 of the 11 elements. The IDB considers at least 5 of the elements in 10 of 19 loans and the ADB considers more than 5 elements in 10 of 29 projects. The report also reviews the investments made by the MDB administered Climate Investment Funds (CIFs), particularly the $4.73 billion Clean Technology Fund. While the Funds address some of these elements, the research concludes attention to them has been uneven. The CIFs represent more public finance than has ever before been dedicated to climate change.

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