World Bank Plans a CCS Fund for Developing Nations. By Lisa Friedman, ClimateWire, October 14, 2009. "Norway and the World Bank are in discussions over setting up a new trust fund to help developing countries create and deploy carbon capture and storage (CCS) technology. The fund is still in the planning stages... Norwegian leaders first publicly floated the plan at a Sept. 14 World Bank workshop on CCS needs and concerns in developing nations… Norway announced it will give 35 million kroner (about $6 million) for a World Bank trust fund to help nations develop and deploy the technology… The trust fund plans come on the heels of an International Energy Agency report calling for 3,400 CCS plants by mid-century, most of which will need to be sited in developing nations. The study…outlines a future in which 97% of the growth in greenhouse gas emissions will come from fast-growing nations over the next two decades and makes a strong case for driving the technology forward outside of the United States and Europe...
"Susanne Breitkopf, who works on World Bank issues for Greenpeace, argued that CCS is an unproven, expensive technology and many countries like India have expressed strong reservations about deploying it. Instead, she said, the multilateral donor institution should focus more on helping countries leapfrog dirty technologies to develop wind, solar and other renewable energy…Karen Orenstein, spokeswoman for Friends of the Earth, agreed. 'The World Bank should be greening its energy portfolio,' she said… U.S. Energy Secretary Steven Chu this week called on the United States and other countries to make CCS technology affordable and widely deployable within the next eight to 10 years.'"
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