The Wrong Climate for Damming Rivers

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. The dam industry advocates for large hydropower projects to be funded by the Green Climate Fund, and many governments boost dams as a response to climate change through national initiatives. For example, at least twelve governments with major hydropower sectors have included an expansion of hydropower generation in their reports on Intended Nationally Determined Contributions (INDCs).

Source: EcoWatch

Region: South America

Country: Brazil