World Bank Rejects Energy Industry Notion that Coal Can Cure Poverty

The World Bank said coal was no cure for global poverty on Wednesday, rejecting a main industry argument for building new fossil fuel projects in developing countries.

In a rebuff to coal, oil and gas companies, Rachel Kyte, the World Bank climate change envoy, said continued use of coal was exacting a heavy cost on some of the world’s poorest countries, in local health impacts as well as climate change, which is imposing even graver consequences on the developing world.

“In general globally we need to wean ourselves off coal,” Kyte told an event in Washington hosted by the New Republic and the Center for American Progress.  “There is a huge social cost to coal and a huge social cost to fossil fuels … if you want to be able to breathe clean air.”

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