The Asian Infrastructure Investment Bank wants to mobilize private capital to meet infrastructure needs. But by harnessing the capital markets, the bank is entering dangerous territory – and putting people and the environment at risk.
All is not well with the Total SE-sponsored East African Crude Oil Pipeline as, one by one, European lenders are walking away from requests to finance the $3.5 billion project, leaving it in financing blues barely three weeks after its launch.
A mine tailings dam planned for a seismically unstable area of Sumatra’s rainforest would be at high risk of failure, experts warn. The dam’s collapse would be a disaster, they say, releasing a wall of slurry that would engulf and bury Indigenous villages and their inhabitants.
Plans by Total to exploit and export Ugandan oil through a 1,443 kilometre pipeline traversing east Africa to the Tanzanian coast are hanging in the balance as investors are under growing pressure to move away from fossil fuels.