To me it seems like The World Bank is just trying to make up for the loan they gave to South Africa a year ago. Their new policy only would not restrict them from loaning money to poor nations which are mainly the one’s who need money for new infrastructure like coal mines. Ultimately it doesn’t seem like it will really affect how they are doing business right now, they are just trying to give the illusion that they are taking steps to try to support a less fossil fuel dependent world.
I believe that the World Bank should try to commit to making a greener world. I agree with Kretzmann in that I think all fossil fuels “should entirely be phased out.” However, I understand that the decision they made was probably based more on economics than the environment. Obviously coal and fossil fuels are cheaper to use than renewable energy sources right now and the World Bank’s first priority is to aid the poor. Although this may be the easiest and cheapest way to provide South Africa Energy I don’t think a quick fix like adding another coal plant is what will be best in the long run.
--Kyle Moore