'Africa has a lot to answer for in these recurring energy financing games. Data from the GlobalEnergyMon shows that China's coal-fired power plants emit as many tonnes of CO2 in 36 hours as Morocco's do in an entire year.'
One might be tempted to employ the epithet once applied to a chaotic French Socialist Party congress – “a drunken brawl in a Mexican brothel” – to describe the vaudeville that played out in New York at the end of September regarding the subject of climate finance.
A dismayed chorus made up of NGOs and activists, supported by Gore, chanted calls for his resignation . Similar calls came from John Kerry and John Podesta, President Joe Biden’s special envoy and senior climate adviser respectively. Malpass’s term runs until the first half of 2024. China’s coal-fired power plants emit as many tonnes of CO2 in 36 hours as Morocco’s do in an entire year.Also receive offers from The Africa ReportAll the coal-fired power plants installed since 2000 across the continent account for 13.8 GW of electrical capacity. This is barely half the coal-fired capacity that China added to its electricity mix in 2021 alone. And this was without the World Bank’s endorsement, support or involvement.
“Tackling climate change will require a huge pipeline of impact projects and a coordinated effort to finance these projects”, as well as “sound diagnostics, new uses of technology and ambitious prioritisation”, Malpass said in October 2021.
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