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The World Bank is spending billions of pounds subsidising new coal-fired power stations in developing countries despite claiming that burning fossil fuels exposes the poor to catastrophic climate change. The bank, which has a goal of reducing poverty and is funded by Britain and other developed countries, calls on all nations in a report today to “act differently on climate change”.

It says that the world must reduce its dependence on fossil fuels, but it is funding several giant coal-burning plants that will each emit millions of tonnes of carbon dioxide a year for the next 40 to 50 years.

world bank coal fired power stations developing nations fossil fuels carbon dioxide world development report greennumbers