The 1992 Rio Earth Summit was supposed to be a turning point for the World Bank. Environmental concerns would w play a major role in its lending - programmes and projects would go beyond ecomic development to sustainable development. More than two decades later, efforts to green the bank seem pallid. Bruce Rich argues that the Bank's current institutional problems are extensions of flaws that had been present since its founding. His new book, Foreclosing the Future, tells the story of the Bank from the Rio Earth Summit to today. For readers who want the full history of the Bank's environmental record, Rich's acclaimed 1994 critique, Mortgaging the Earth, is an essential companion. Called a detailed and thought-provoking look at an important subject by The New York Times, Mortgaging the Earth analyzes the twenty year period leading up the Rio Summit. Rich offers t only an important history but critical insights about ecomic development that are ever-more relevant today.
Bruce Rich is lawyer who has worked for three decades with national environmental organizations. He is an expert on pubic international finance and the environment. He received the United Nations Global 500 Award for environmental achievement for his research and advocacy concerning multilateral development banks. He is the author of To Uphold the World, as well as articles in publications including The Financial Times, The Ecologist, and Environmental Forum, the policy journal of the Environmental Law Institute.