ID :
22726
Sun, 10/05/2008 - 22:17
Auther :
Shortlink :
http://m.oananews.org//node/22726
The shortlink copeid
W.B.`s funding for energy projects rise to USD 2.7 bn
New York, Oct 4 (PTI) The World Bank's funding for renewable and efficient energy projects in developing countries rose 87 per cent during the past year to nearly USD 2.7 billion, reflecting the growing interest and demand for environmentally-friendly sources of power.
"Concerns about energy security, climate change, and
increasing energy prices make many renewable energy and energy
efficiency measures and applications very attractive in a
number of different settings," said Jamal Saghir, World Bank
Director for Energy, Transport, and Water.
"This is reflected in the increased demand for
investment and also for technical assistance to strengthen
regulatory frameworks providing incentives to climate
change-friendly applications," he added.
At the 2004 International Renewable Energies
Conference in Bonn, Germany, the World Bank Group pledged to
boost its financial support for new renewable energy and
energy efficiency projects by 20 per cent per year.
Since then it has more than exceeded that the goal
each year, committing close to USD 3.7 billion to such
projects, compared with the agreed commitment goal of USD 1.3
billion, the Bank said.
The Bank's commitments during the past fiscal year –
which ended in June – include nearly USD 1.2 billion for
energy efficiency, as well as almost USD 1.5 billion for
renewable energy including wind, solar, biomass, geothermal
and hydropower projects.
Renewable energy and energy efficient investments made
up 35 per cent of the Bank's energy commitments for the year –
up from 13 per cent per year on average in the early 1990s –
with 95 projects in 51 countries, as well as two cross-border
projects.
The Bank noted that high energy prices and acute power
shortages have led to an increased demand for energy
efficiency projects, including automated meter reading systems
and efficient lighting measures. Such projects are being
implemented in a number of countries such as China, Pakistan,
Argentina, Ukraine, Burundi and Zambia.
Increased investments in renewable and efficient
energy projects will not only benefit the environment but also
contribute to job creation, according to a landmark study
released last week by the U.N. Environment Programme
(U.N.E.P.) and the International Labour Organization (I.L.O.).
The report found, among other things, that renewable
energy generates more jobs than employment in fossil fuels.
Projected investments of USD 630 billion by 2030 would
translate into at least 20 million additional jobs in
the renewable energy sector.
In recent years some 2.3 million people have found new
jobs in the renewable energy sector alone, and the potential
for job growth in the sector is huge, the report added, which
stated that employment in alternative energies may rise to 2.1
million in wind and 6.3 million in solar power by 2030.
In addition, investments in improved energy efficiency
in buildings could generate an additional 2 million to 3.5
million green jobs in Europe and the United States alone, with
the potential much higher in developing countries.
"Concerns about energy security, climate change, and
increasing energy prices make many renewable energy and energy
efficiency measures and applications very attractive in a
number of different settings," said Jamal Saghir, World Bank
Director for Energy, Transport, and Water.
"This is reflected in the increased demand for
investment and also for technical assistance to strengthen
regulatory frameworks providing incentives to climate
change-friendly applications," he added.
At the 2004 International Renewable Energies
Conference in Bonn, Germany, the World Bank Group pledged to
boost its financial support for new renewable energy and
energy efficiency projects by 20 per cent per year.
Since then it has more than exceeded that the goal
each year, committing close to USD 3.7 billion to such
projects, compared with the agreed commitment goal of USD 1.3
billion, the Bank said.
The Bank's commitments during the past fiscal year –
which ended in June – include nearly USD 1.2 billion for
energy efficiency, as well as almost USD 1.5 billion for
renewable energy including wind, solar, biomass, geothermal
and hydropower projects.
Renewable energy and energy efficient investments made
up 35 per cent of the Bank's energy commitments for the year –
up from 13 per cent per year on average in the early 1990s –
with 95 projects in 51 countries, as well as two cross-border
projects.
The Bank noted that high energy prices and acute power
shortages have led to an increased demand for energy
efficiency projects, including automated meter reading systems
and efficient lighting measures. Such projects are being
implemented in a number of countries such as China, Pakistan,
Argentina, Ukraine, Burundi and Zambia.
Increased investments in renewable and efficient
energy projects will not only benefit the environment but also
contribute to job creation, according to a landmark study
released last week by the U.N. Environment Programme
(U.N.E.P.) and the International Labour Organization (I.L.O.).
The report found, among other things, that renewable
energy generates more jobs than employment in fossil fuels.
Projected investments of USD 630 billion by 2030 would
translate into at least 20 million additional jobs in
the renewable energy sector.
In recent years some 2.3 million people have found new
jobs in the renewable energy sector alone, and the potential
for job growth in the sector is huge, the report added, which
stated that employment in alternative energies may rise to 2.1
million in wind and 6.3 million in solar power by 2030.
In addition, investments in improved energy efficiency
in buildings could generate an additional 2 million to 3.5
million green jobs in Europe and the United States alone, with
the potential much higher in developing countries.
