The Obama administration announced recently, for instance, that it would no longer contribute to the construction of coal-fired power plants financed by the World Bank and other international development banks.
This should not have been a surprise. The last time the World Bank agreed to help finance construction of a coal-fired power plant, in South Africa in 2010, the United States abstained from a vote approving the deal. The Obama administration expressed concerns that the project would “produce significant greenhouse gas emissions.” But as South Africa’s finance minister, Pravin Gordhan, explained at the time in The Washington Post, “To sustain the growth rates we need to create jobs, we have no choice but to build new generating capacity — relying on what, for now, remains our most abundant and affordable energy source: coal.”
