What Do World Bank and Multinational Corporations Do to the Environment - Essay Example

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The essay "What Do World Bank and Multinational Corporations Do to the Environment?" investigates how World Bank, IMF, and multinational corporations have given rise to environmental problems in Third nations through their commercial interests, a pretension to be environment-friendly and partnerships with NGOs for double material benefits…
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What Do World Bank and Multinational Corporations Do to the Environment
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Download file to see previous pages With the development of globalization, human beings have been able to possess multiple things to enjoy life further. In this era, almost all economies are interconnected and mutually dependent on each other. Therefore, people have established IFIs (International Financial Institutions) in order to efficiently monitor and control the economies of the world. As a result of those effects, the world looks healthy and the earth appears to be harmonious under the name of globalization. However, multinational corporations and IFIs, for example, the World Bank and International Monetary Fund, have significantly created severe environmental problems in the world. The three similar ways they have used are the following:
  • They look for good business,
  • They pretend to be environmentally friendly and earn profit twice over, and
  • They share partnerships with non-profit organizations to improve their image and to earn more profit although they severely destroy the environment
  • I like the World Bank and IMF (International Monetary Fund) and multinational corporations have caused environmental problems, especially while providing an incentive to commercialization within the Third World. They both would like maximizing their profit at the same time they minimize costs in the Third World.
Ironically, the World Bank and IMF are looking for profit from the poor countries and they implemented ‘Structure Adjustment’ under the veil of globalization and economic development. As a result of that, they have corrupted the framework of other nations that desperately need the money to govern their states. For transparency, one needs to express what the ‘structure adjustment’ is. This is the program that the World Bank and IMF enforce when they lend the money in order to promote economies of poor countries. However, despite this plausible effort, World Bank and IMF push the governments of poor countries to reorganize their structures of economies suiting the institution’s appetite. Of course, they are operating this program to ensure they get the full return of the loan and interest. ...Download file to see next pagesRead More
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