The power of money

Introduction
The world bank is an international institution which gives loans to states and organizations.
Before giving a loan, the bank tries to understand the situation and the results. There has
been a huge increase in fossil fuel projects recently and many of them have been financed
by this bank. Fossil fuels are very harmful and increase the amount of carbon dioxide and
the dangers of global warming as well.

Statement of the Problem

The problem the bank faces is whether to fund such projects again, or to change its
approach and promote projects that offer a cleaner way to gain energy. All this should be
decided by the invited commission and its members.

Discussion
I) The first side- non-governmental organization
Many agencies work closely with NGOs. NGOs have played an important part in numerous
environmental conventions, and their role is becoming more clearly defined. The NGO supports the
new idea of the bank. First of all, its purpose is to make the world a better place for people to live.
The NGO is constantly looking for a solution to reduce earth pollution. the shift to carbon-free world,
which is necessary to stabilize the world's climate, should be accompanied by increased investments
in renewable energy access . so, the NGO will support the new venture of the bank.

II) The second side- the energy industry

There are many kinds of costs associated with fossil fuel use in the form of greenhouse gas emissions
and other pollution resulting from the extraction and burning of fossil fuels. These negative
externalities have adverse environmental, climate, and public health impacts. The energy industry
also supports the new idea of the bank and thinks that several options exist to begin the necessary
transition away from a harmful fossil fuel economy. Improving the energy
efficiency of buildings, vehicles, industrial processes, appliances and equipment is the most
immediate and cost effective way to reduce energy use. Planning communities where people can
safely and conveniently use public transit, walk, or bike, instead of using private vehicles, also
reduces energy demand. Finally, clean, renewable energy—such
as water, biomass, wind, geothermal, and solar energy—can replace fossil fuels. In their opinion, this
will not bring any loss to the bank

III) The third side- developing countries

From the side of developing countries, the new idea of the bank is acceptable. It is true that
developing countries are seeing great benefits with fossil fuel extraction and selling, but the way is
open from developing countries to emulate other countries, such as china and india. These
countries are using renewables as part of the industrialisation process itself because they are
products of manufacturing. Renewables are clean. They free a country from balance of payments
burdens. They generate employment. They enhance energy security. Countries can build their way
to energy security by investing in the industrial capacity needed to manufacture wind turbines, solar
cells and other sources of renewable energy at scale. As China and India throw their economic
weight into the renewables industrial revolution, they are triggering a global chain reaction that
could benefit – and be a role model for – many more developing countries.