With "Green" World Bank Help, India's Tata Power Plant Online In 2012, Joining Top 50 GHG Sources

[hatrack]

Once the new Tata Ultra Mega power plant in western India is fired up in 2012 and fully operational, it will become one of the world's 50 largest greenhouse-gas emitters. And the World Bank is helping make it possible.

A year after World Bank President Robert Zoellick pledged to "significantly step up our assistance" in fighting climate change, the development institution is increasing its financing of fossil-fuel projects around the globe.

The $4.14 billion, coal-powered Ultra Mega plant will emit more carbon dioxide annually than the nation of Tunisia, according to the U.S. Department of Energy. The World Bank in April agreed to provide $450 million in loans and guarantees for the project and also may buy a $50 million stake in it.

"The World Bank's lending record does not match up to Zoellick's rhetoric," says Heike Mainhardt-Gibbs, a consultant to the Bank Information Center, a Washington watchdog group. "The institution is simply not slowing down its significant funding to fossil-fuel projects that will emit greenhouse gases for 20 to 40 years."

EDIT

http://www.pittsburghlive.com/x/pittsburghtrib/business/s_584546.html

[Systematic Chaos]

1. Why you actin' all worried, dude?

Solar is gonna save us!

:eyes:

[thunder rising]

2. hmmmm....we've got coal and a debt problem. And they have (our) money and a population they can

poison at will.

[NNadir]

3. The existing Drax coal fired plant in the UK emits more CO2 than any of 50 countries.

It has done so for many years.