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Oil refineries emit heavy smokes. Investments in sustainable development projects worldwide have been the focus of discussions by six multilateral development banks (MDBs) at the Rio+20 summit in Rio de Janeiro, Brazil. Currently, total investments for sustainable development project totals $93 billion annually, and the six MDBs have expressed interest to expand their investments in support of global development priorities that are expected to be agreed upon at this week's Rio+20 summit meeting in Brazil, a press statement from the ADB said. According to Bindu Lohani, ADB's vice president for knowledge management and sustainable development, one of the greatest challenges facing developing countries is how to find ways to promote growth that will address the negative impacts of climate change, food security and water scarcity while at the same time, eradicating poverty. "Working together is the best way for multilateral development banks to leverage funds, technology ...

Photo source: Wikipedia Scientists have advanced a plan to power 100% of the world's energy with wind, hydroelectric, and solar power by the year 2030. According to a 2011 projection by the International Energy Agency, solar power generators may produce most of the world’s electricity within 50 years, dramatically reducing the emissions of greenhouse gases that harm the environment. Cedric Philibert, senior analyst in the renewable energy division at the IEA said: “Photovoltaic and solar-thermal plants may meet most of the world’s demand for electricity by 2060 -- and half of all energy needs -- with wind, hydropower and biomass plants supplying much of the remaining generation”. “Photovoltaic and concentrated solar power together can become the major source of electricity,” Philibert said. Economic trends All forms of energy are expensive, but as time progresses, renewable energy generally gets cheaper, while fossil fuels generally get more expensive. A 2011 IEA report said: ...