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While the world urgently needs to embrace financial incentives for climate solutions, these solutions must be just, fair, and equitable. The greenwashing surrounding hydropower has led to the Climate Bonds Initiative, an organization focused on accelerating the transition to a low carbon economy, to embrace plans to offer worldwide funding for hydropower.
This has triggered 276 civil organizations from 77 countries around the world to launch a campaign aimed at persuading the CBI to “abandon its misguided attempt to greenwash hydropower. Critics point out the various social, environmental, and economic issues associated with megadams and how these facilities are false solutions to the climate crisis.