"Advocates are calling for an end to natural gas development, but some poor nations say doing so would unfairly penalize them and stifle economic growth."
"As the world’s governments try to raise their collective climate ambitions, one of the biggest questions is whether developing countries can expand their access to energy and reduce poverty without driving a sharp rise in greenhouse gas emissions.
A new report warns that wealthy nations are still pushing in the wrong direction, by continuing to finance new natural gas infrastructure across the global south. While natural gas once held the promise of serving as a “bridge fuel” to a cleaner future, a growing body of scientific research suggests the fossil fuel will need to be phased out rapidly in coming decades in order to meet the goals of the Paris Agreement.
The analysis, published Monday by the International Institute for Sustainable Development, a climate think tank, looked at spending by multilateral finance groups like the World Bank and government lenders like the United States Export-Import Bank. It found that the groups provided an average of $15.9 billion annually to gas projects in low- and middle-income countries from 2017 through 2019, more than to any other energy source and four times as much as to wind or solar energy."
Nicholas Kusnetz reports for Inside Climate News June 7, 2021.
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