“Large hydro is a very big part of the solution. I fundamentally believe we have to be involved,” Rachel Kyte of the World Bank has stated.
Big dams are back, riding the so-called low-carbon economic development riddle once more. The World Bank, pension and climate funds, Chinese capital. Cash is flowing to dams like a wild-water river. Close to 4,000 hydropower dams of 1MW+ are planned or under way.
The 2000 World Commission on Dams exposed the massive social and environmental impacts plus greenhouse gas emissions from large dam reservoirs. The results were so ‘damning’ that the whole sector froze for some years.