Tuesday, August 6, 2013

World Bank and Energy Poverty

World Bank HQ

Everything takes money in our world and energy poverty is no different. World Bank is supporting universal access to reliable energy and is limiting funding to coal-fired power plants so that only in rare circumstances are it used. The Bank along with other agencies is working to give access to 1.2 billion people around the world. This initiative is inline with President Obama’s plans to no longer fund overseas coal projects in most occasions.

This is a significant change in the fact that bring focus to clean energy to rid us of energy poverty, bring focus to locally presented renewable energy. They are recognizing that not acting is a greater failure than is acceptable. Renewable energy prices are falling around the world making this the intelligent choice.

So with renewable energy becoming not only the right choice but the smart one, will the changes be significant enough to bring those 1.2 billion people out of energy poverty?

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