OUR BURNING PLANET: Medupi’s R6.8bn New Development Bank injection and other BRICS climate crimes By Kevin Bloom kevbloom
the environmental movement in the early 1960s — journalist David Wallace-Wells made the following observation about Russia and climate change:Putin, the commandant of a petro-state that also happens to be, given its geography, one of the few nations on Earth likely to benefit from continued warming, sees basically no benefit to constraining carbon emissions or greening the economy — Russia’s or the world’s.
In this light, the allegation of “tokenism,” by which Matveev characterised the other loan granted Russia by the NDB — $100-million for a “renewable energy” hydropower plant in the Karelia region — seemed to carry some weight. Can the same be said of the $560-million that the NDB has earmarked in the past two weeks for the renewables sector in South Africa?
The sum — comprised of “up to” $300-million to the Development Bank of South Africa for investment in wind, solar and biomass projects; $180-million to Eskom for the integration of 670 megawatts of renewable power into the national grid; and $80-million to the Industrial Development Corporation for on-lending to renewable energy sub-projects — is significant.
But again, on the afternoon of 3 April 2019, less than 24 hours after the finance ministry had declared the NDB annual meeting a “resounding success,” Mabuza
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