Paul Wolfowitz, President of the World Bank, in the development community, the interaction of energy, environment, and poverty have emerged as a central challenge. Lack of consistent electricity in developing countries is a severe obstacle to doing business. It is also affecting school attendance, particularly among girls. Inefficient energy sources can also pose health problems—as many as 1.6 million deaths per year due to indoor smoke. Rich and poor countries alike need to apply energy-efficient technology to cut greenhouse gas emissions. At the G8 summit in Gleneagles, the World Bank Group was asked to take a leadership role in creating a new framework for clean energy and development, including investment and financing. In the first phase we will propose accelerated investments. In the second phase, we aim to generate new knowledge on technology options and the impact on climate change. Wolfowitz summarized the Bank’s ongoing energy spending activities.
Paul Wolfowitz, President of the World Bank, shared his thoughts about how the global community can face the double challenge of protecting our environment and strengthening our economies. Brazil is working to turn this double challenge into a double dividend, by meeting energy needs that are essential for growth and fighting poverty, while leaving a smaller environmental footprint. Investing in the environment is investing in the future of the poor. To improve the lives of the poor and to create job opportunities for them, the developing countries need much more energy than they use today. The second and much greater challenge lies in slowing the threat of deforestation. The World Bank Group’s mission is to support economic development and policies that helps the poor. He concluded saying that we can and will continue to work with Brazil to raise global consciousness about our shared responsibility toward our environment.
