World Bank climate funds: “a huge leap backwards”

(April 1, 2008) The recently proposed climate investment funds to be administered by the World Bank are under heavy fire for proposing a governance structure that replicates the inequities of the Bank’s board, undermines the UN framework convention on climate change (UNFCCC) and fails to clarify whether money to these funds would be additional to G8 commitments on overseas development aid. Meanwhile World Bank’s support for coal-fired power generation is on the increase.

A Realistic Policy on International Carbon Offsets

(April 1, 2008) As the United States designs its strategy for regulating emissions of greenhouse gases, two central issues have emerged. One is how to limit the cost of compliance while still maintaining environmental integrity. The other is how to “engage” developing countries in serious efforts to limit emissions. Industry and economists are rightly concerned about cost control yet have found it difficult to mobilize adequate political support for control mechanisms such as a “safety valve;” they also rightly caution that currently popular ideas such as a Fed-like Carbon Board are not sufficiently fleshed out to reliably play a role akin to a safety valve.

New Estimates of Capital Flight from Sub-Saharan African Countries: Linkages with External Borrowing and Policy Options

(April 1, 2008) Over the past decades, African countries have been forced by external debt burdens to undertake painful economic adjustments while devoting scarce foreign exchange to debt-service payments. On the other hand, African countries have experienced massive outflows of private capital towards Western financial centers. Indeed, these private assets surpass the continent’s foreign liabilities, ironically making sub-Saharan Africa a “net creditor” to the rest of the world.

PI Report: Electricity of Vietnam urged to rethink hydro operations on Mekong tributary

(March 26, 2008) This environmental impact assessment review by Probe International and Phnom Penh-based NGO Forum on Cambodia recommends that Electricity of Vietnam consider switching from peaking to base load operations at its upper Se San hydro dams to ease impacts in downstream Cambodia. Additional recommendations, photos, and statements from affected community leaders in Cambodia included.