Large hydropower projects are often propagated as a “clean and green” source of electricity by international financial institutions, national governments and other actors. They greatly benefit from instruments meant to address climate change, including carbon credits under the Clean Development Mechanism (CDM), credits from the World Bank’s Climate Investment Funds, and special financial terms from export credit agencies and green bonds.
Brazil climate change report warns of failed hydropower and crops
“(…) Given the importance of the report, it was published with surprising discretion at the end of October and might have passed unnoticed, had it not been for the watchful eyes of the OC (Observatório do Clima), a civil society network that promotes discussion on climate change.(…)”
A succinct and important article. Bravo.
Unfortunately it’s the money honey! People want solar and wind but guess who wants the multi-billion dollar projects like a new dam?
You could propose quarrying huge stone blocks, millions of tons of concrete, transportation fleets of trucks, thousands of workers, eminent domain and do all that to construct a big useless pile of rocks into a pyramid … and you would have hundreds of lobbyists urging and bribing politicians to approve it no matter if the money is desperately needed elsewhere.
The world needs solar and wind but the oligarchy wants money.