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Current International Update

Volume 44, Issue 21

LEAKED DRAFT SUGGESTS WORLD BANK LENDING POLICIES "DISASTROUS"

The Guardian reported that plans by the World Bank to relax the conditions on which it lends up to $50 billion per year to developing countries have been condemned as potentially "disastrous" for the environment and likely to weaken protection of indigenous peoples and the poor.

UK SETS CAP ON RENEWABLE ENERGY SUBSIDIES

Country: United Kingdom

The United Kingdom's government announced last week that it would cap subsidies for renewable energy projects at £200 million ($340 million) a year, a move that frustrated green energy advocates and small businesses in the industry. The decision will affect the funding of large-scale, low-carbon installations from wind and solar farms to biomass-burning power plants.

CHINA ANNOUNCES PLAN TO BOOST ELECTRIC CAR USE

Country: China

Last week, the State Council, China's cabinet, announced a set of support guidelines aimed at augmenting the country's new-energy vehicle market, which has performed far below the government's expectations. Battery electric vehicles, plug-in hybrids, and fuel-cell cars will all be eligible under the plan, set to be phased in over the next two years.