World Bank Documents Leaked April 27, 2001

These documents, leaked from within the World Bank, reveal that the World Bank is wrestling with two critical issues with regard to their investments in oil, gas, mining, and non-renewable power projects. On the one hand, they recognize these sectors are inherently environmentally unsustainable. On the other hand, they also are keenly aware of the profitability of this sector.

Their Annual Portfolio Performance Review for fiscal year 2000 (images 2 and 3) points out that the oil, mining and gas sector was their sector with the largest margin of profitability. 

Meanwhile, image 1 from a Powerpoint presentation made to employees of the International Finance Corporation--the private lending arm of the World Bank--at an IFC retreat recently makes clear the "risk factors if [the IFC does] nothing" for oil, mining, gas, and non-renewable power projects: "global concern over the inherent [unsustainability of extractive industries," and "compelling evidence of accelerating global warming -- anticipated international clamor for action on [greenhouse gases]]."

image 1

Go to images 2 and 3