This week, the Central Java Coal Power Project added to its list of failures, as continued refusal by villagers to sell their land for the proposed coal plant has forced the Indonesian government to yet again extend the deadline for financial closure of the project. This provides yet another reason for the World Bank to intervene.
Coal
Cashing In On Carbon: How Taxpayer Dollars Greenwash Dirty Energy
From the Wyoming coal mines, to the gasification plant in Penwell, to the oilfields of the Permian Basin — this subsidy spotlight explores the human impact of government subsidies gone haywire.
International NGOs Call on Governments to #EndCoalFinance
On Monday, June 16 the Organization for Economic Cooperation and Development (OECD)’s Export Credit Group will meet to discuss climate and energy related financing through Export Credit Agencies – public agencies that fund or guarantee private corporations from their home country to invest or export overseas.
Japan Urged To Stop Financing Coal ahead of Obama-Abe Summit
Today, over 30 groups from around the world, including Oil Change International, sent an open letter to Japanese Prime Minister Shinzo Abe ahead of his meeting with U.S. President Barack Obama on April 24th urging Japan to follow the United States and other countries’ pledges to stop financing coal overseas.
World Bank financed $1 billion in fossil fuel exploration projects
New analysis released today by Oil Change International finds that World Bank Group finance for projects that included exploration for new fossil fuel resources reached a new high in FY2013, at nearly $1 billion out of the $2.7 billion spent in total for fossil fuel projects.
Worried about a 4-degree world? Then stop digging!
World Bank Group finance for projects that included fossil fuel exploration was highest in FY2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects in 2013.
World Bank Group financed $1 billion in fossil fuel exploration projects in 2013
World Bank Group finance for fossil fuel exploration projects from FY2008 to 2013 was highest in 2013, at nearly $1 billion out of $2.7 billion total for fossil fuel projects.
Momentum Grows to Stop Coal Finance, but Further Action is Critical
Two important actions were added to the growing list of recent global steps curbing public finance for coal. First, the European Bank for Reconstruction and Development (EBRD) joined the World Bank and European Investment Bank (EIB) in adopting a new Energy Strategy that significantly restricts support for coal power projects. As the second climate feat of the week, the U.S. government voted no on the Board of the Asian Development Bank (ADB) for a proposed coal power plant in Pakistan. However, even though the U.S. and several other countries voted no or abstained from supporting the Pakistan coal plant, the ADB board still had a simple majority, and therefore approved $900 million in funding for the 600 MW Jamshoro coal plant.
Coal Industry Told to Leave Reserves in the Ground
At a Coal Summit in Warsaw today, the coal industry was told it had to leave most of the existing coal reserves in the ground
Poland’s Billion Dollar Bet on Coal
Irony: On the one hand you have the Polish government hosting the UN climate talks in Warsaw, where the talk is all about the emerging climate crisis being driven by fossil fuels. On the other hand, the Polish government is pressing ahead with building a $3.7 billion dirty coal plant which may never be profitable.