World Bank Auditor Urges Investment in Renewable Energy

Head of World Banks Extractive Industries Review urges institution to re-channel its energy investments into clean and renewable energy sources.

Published: 03-Feb-2004

WASHINGTON, Jan 30 -- The head of a World Bank effort to assess the institution's heavily-criticized support for mining and energy projects appealed to the bank Friday to re-channel its energy investments into clean and renewable energy sources.

”The World Bank needs to change from the conventional type of development to sustainable development in the extractive industries,” said Emil Salim, a former Indonesian environment minister who now heads the bank's Extractive Industries Review (EIR).

"No one is taking care of the renewable energy," Salim told IPS in an interview. "The World Bank has the duty to move now into renewable energy instead of fossil fuel development."

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