Does the bank have a legitimate role in solving the climate crisis?
The World Bank, which once upon a time wanted to rid the world of poverty, is now trying to position itself as climate crisis savior — but at the same time is continuing its fossilized ways. So says EarthBeat Radio — check out their illuminating podcast on it. Janet Redman, the author of a report entitled “The World Bank: Climate Profiteer,” is interviewed about a $2 billion portfolio of carbon offsets for industries in the global north to be developed in the global south. Sadly, the Bank program suffers from a lack of transparency, benefits dirty industries most, and puts the alleviation of poverty at the bottom of its list of priorities. Doesn’t sound like a world of change.