World Bank head hits back at Al Gore, saying he’s no climate denier

WORLD Bank president David Malpass sought to deflect mounting calls for his resignation on Thursday (Sep 22) by publicly acknowledging that humanity’s use of fossil fuels is contributing to global warming.

In an interview on CNN International on Thursday, bank chief Malpass said “it’s clear” that the burning of oil, natural gas and coal is generating greenhouse-gas emissions and that people need to “find cleaner ways to make energy.”

In a panel discussion just 2 days earlier, Malpass dodged questions on whether he accepted the scientific consensus that the fossil fuels are driving global warming, saying he was “not a scientist.” His remarks drew the ire of many, with former US Vice-President Al Gore labelling Malpass a “climate denier” and calling for his ouster.

The move raised eyebrows within the Biden administration and renewed criticism of both the World Bank and Malpass. Environmental activists had already been calling on the World Bank and other multilateral lenders, including the International Monetary Fund, to do more to accelerate clean-energy ventures and halt funding for fossil-fuel projects.

“I’m not a denier,” Malpass said Thursday, adding: “I’m not always good at conveying the exact message,” and “I don’t always do the best job in answering questions or hearing what the questions are.”

For Malpass to be dismissed before his term ends in 2024, he would either need to be removed by the board, which has never happened, or he could potentially be forced to step down if his position became untenable.

But Malpass insisted Thursday he had the full confidence of the board of the World Bank, adding that there’s been strong support for the directions the lender is taking.

He also said that the US - which is the World Bank’s biggest shareholder and most influential voice when it comes to choosing the bank’s leadership - has supported the lender’s efforts on getting countries to improve debt transparency.

Environmentalists have criticised the World Bank’s lingering support for natural gas projects, including an LNG venture in Mozambique, despite its earlier pivot away from financing coal plants.

But Malpass, who was nominated for the position by former President Donald Trump, argued the Mozambique project had strong shareholder support and “made it possible to avoid more carbon-intensive activities.”

The World Bank chief also cast the lender as a leader in financing climate-friendly green projects.

“We put more into climate-change commitments than the entire G7 governments combined,” Malpass said, adding that the World Bank supported US$31.7 billion in climate efforts in fiscal year 2022. “One thing that frustrates me is it’s tempting for other entities in the world to say ‘well, the World Bank’s not doing enough,’” yet “the reality is the World Bank’s doing more, really, than anyone else.” BLOOMBERG