World Bank Group Goes Carbon-Neutral

World Bank Group Goes Carbon-Neutral
Source: GreenBiz.com

WASHINGTON, June 5, 2006 - This World Environment Day, the World Bank Group announced its commitment to going carbon neutral at its Washington, D.C., offices, its Spring and Annual meetings, staff commuting, and all operational travel from headquarters. This means that the emissions from these activities have been offset through investments in renewable energy and energy efficiency, and through the purchase of verified emissions reductions from projects in developing countries.

"The World Bank Group is a strong believer in corporate social responsibility," said World Bank managing director Graeme Wheeler. "This is a small but symbolic contribution in celebrating World Environment Day."

Operations in the Washington offices of the multilateral organization, in support facilities, and in business travel annually lead to direct and indirect carbon dioxide emissions of approximately 148,000 metric tons -- 60% from operations, and 40% from airline travel.

The WBG's carbon neutrality was achieved through:

The purchase of green power for 100% of electricity consumption, or 107 million kWh, through renewable energy certificates, which pay for the incremental cost of using clean energy instead of traditional fossil fuel energy.
The voluntary purchase of 59,400 metric tons of carbon dioxide equivalent in verified emissions reductions (VERs) from projects in developing countries.

Recently, during the Spring Meetings of the World Bank/International Monetary Fund, Ministers of Development and Finance endorsed a document on Clean Energy and Development, aimed at boosting energy investments in developing countries in an environmentally sustainable way. The Clean Energy and Development: Towards an Investment Framework (PDF) document -- a joint effort by the WBG and other International Financial Institutions and Development Banks -- was prepared as a follow-up to the G-8 Gleneagles Summit's Communiqué and Plan of Action for Climate Change.

Wheeler emphasized that, "The global community is working to achieve a potential 'double dividend' -- to meet the energy needs that are essential to fuel growth and to fight poverty on the one hand, while preserving the environment on the other. Indeed these are not conflicting goals."

This past year, the WBG won a 2005 Green Power Leadership Award -- sponsored by the U.S. Environmental Protection Agency, the U.S. Department of Energy, and the Center for Resource Solutions -- in recognition of "individuals, companies, and organizations that are significantly advancing the development of renewable electricity sources through green power markets."