World Bank’s groupthink would leave Kosovo in the dark
- Mar 18, 2019 10:29 pm GMT
The World Bank’s President Dr Jim Yong Kim has resigned. Now it is time for the bank to get real on coal power. The new President should use financial carbon metrics to re-assess the bank’s energy funding choices. While Germany’s exit from coal is long overdue, Kosovo desperately needs a new, smokeless baseload power station.
The climate science is pretty clear; to achieve the Paris 1.5°C goal the world’s carbon budget only allows us to emit another 500 gigatonnes of CO2 . While current fossil fuel infrastructure does not commit us to 1.5°C there is little scope for new fossil-fuel power plants. This means that in developed economies coal-fired plants should be shut early, allowing newly developing economies the chance to grow. Sound, financially based metrics can guide and justify such tough decisions.
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