World Bank toasts to climate change...

On the 12th of October A SEED and friends were protesting in the Amsterdam canals against the way the World Bank is dealing with climate change. The World Bank wants to give conditional loans to the poor countries in the South to get prepared for climate change and to reduce CO2 emissions. These countries are even told to start trading on the carbon market... But it is the western countries, the main polluters so far, that should pay the poor countries for the damages and (future) protection instead! With interest of course.
In two boats and by foot the people of A SEED took the street and canals of Amsterdam to let the public hear about this.
The boats (of course the best way to secure yourself against the rising level of the sea) were filled with 'representatives' of the World Bank arguing the people on the side not to worry or think, go back to bed and leave it to the World Bank to take care of things. This line of arguing was met with fierce verbal attacks from people on the street demanding a more appropriate explanation of the World Bank.
With the music of Chopin in the background and the representatives toasting their proseco it looked much like the World Bank would first and foremost take care of their own interests. And so it is.

This action was part of the Week of Global Action Against Debt and International Financial Institutions.

Arguments against the climate policy of the World Bank:

1. The World Bank has established two climate funds in order to help poor countries adapt to and mitigate climate change. Global warming however is mainly a result of rich countries’ CO2 emissions. The money for climate change adaptation will be granted as loans to developing countries. This is in disgraceful contradiction with the 'polluter pay' principle of the Kyoto Protocol stating that the rich countries have to pay for the damage they have been inflicting on the climate.

2. The loans for adaptation to climate change come with economic conditionalities. These are economic policy measures like liberalization, that are pushed onto countries. This is regardless of the high social costs often paid by the poor, for example as a result of the privatization of public utilities.

3. The World Bank claims that its funds will reduce greenhouse gases. Yet, the institution continues providing funds for fossil fuel projects. As the new climate funds focus on 'low-carbon' energy, rather than on 'no-carbon' energy, CO2 emissions will not be brought to an acceptable level.

These climate funds of the World Bank will increase the already high level of indebtedness of developing countries and their economic dependence on international donors and won’t help cut CO2 emissions sufficiently.

You can find:
* more background information about this issue in the article 'World Bank's new Climate Investment Funds will neither help the poor nor reduce CO2 emissions'. ( http://www.aseed.net/index.php?option=com_content&task=view&id=624&Itemid=1 )
* a short video "De Wereldbank verandert je klimaat" (by Edith) at YouTube ( http://www.youtube.com/watch?v=TJeLsCDGS2o )
* and fotos on the website: http://www.aseed.net

- E-Mail: info@aseed.net Website: http://www.aseed.net