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"With the big four involved in three-quarters of the deals to take place in the sector, it's highly unlikely that any major polluting project could go ahead without their investment," he said.
In the case of Rockwool's factory, the massively polluting project would only create 150 jobs and drive away the kinds of companies and industries that would continue to lift up our region.
"These are flimsy conditions for such a hugely polluting project," warned Catherine Abreu, Ecology Action Centre Energy Coordinator, in a March 2014 press release responding to the Minister of Environment's approval of the Pieridae project.
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Already, thousands of citizens' groups around China have organized to protest against polluting projects, like chemical and copper plants and wastewater pipelines, sometimes even filing lawsuits.
At the end of last year, he launched an all-out assault on the laws that protect our country's most valued wildlife and countryside, and declared that highly polluting projects are his preferred path to economic recovery.
The Gadgil report suggested that the entire Ghat area be declared an ecologically sensitive area, the Ghats be divided into three zones and that villagers and local councils be consulted on all polluting projects.
The revelations have prompted anger from environmental campaigners, upset that tax payers are potentially bankrolling highly polluting projects, and criticism from the Liberal Democrats who point out a lack of transparency and possible conflicts of interest.
(The Sierra Club's new map shows how the TPP and TTIP would grant extraordinary new protections to more than 400 polluting projects across 48 states).
Ironically -- given that it routinely funds such polluting projects as coal-fired power plants -- the World Bank also found that India is annually losing 5.7percentt of its GDP to environmental decay.
"These governments lack the resources to fulfill that mandate, so they look for the least costly, short-term solutions". In Hungary and elsewhere, polluting projects that drove frustrated citizens to march in the streets continue under the new democratically elected governments that have quickly discovered communism's dirty secrets are more easily exposed than overcome.
Second, the climate pollution cap only includes projects while they exist on the portfolio -- after which OPIC regains that space under their cap to fund more polluting projects.
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Justyna Jupowicz-Kozak
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