Netherlands pays to close 800 MW unit; Glencore’s mega-methane-emitting mine; China commits to publishing methane reduction plan in 2022; Colombian presidential candidate wants most coal left in the ground.
Vietnam to cut 7000 MW from power plan; German coalition aims for 2030 coal exit; China scraps plan for 3000 MW coal plant in South Africa; Portugal closes last coal plant; Turkish court rules against coal plant.
Friends of the Earth US is pleased to publish a new report assessing the environmental and social performance of Chinese banks’ investments in Belt and Road countries. The report, “Investing in a Green Belt and Road? Assessing the Implementation of China’s Green Credit Guidelines Abroad,” examines Chinese overseas investments through the lens of the Green Credit Guidelines, a 2012 Chinese bank policy which obligates banks to comply with host country law and international norms and standards in overseas investments.
BankTrack, urgewald, FoE France, Rainforest Action Network and Re:Common, with the support of 16 partners around the world, have just launched this morning two new reports revealing who are the banks and investors still financing the top 120 coal plant developers identified by urgewald in the Global Coal Exit List, and responsible for 2/3 of the global coal plant pipeline.
he report warns that political and economic elites in key emitting countries are turning to geoengineering as a would-be technological fix for the climate crisis, at the same time they refuse to break with an economic model based on fossil fuels and high emissions.
One year after the Paris Agreement entered into force, are countries really shifting their financial flows to be consistent with a low-greenhouse-gas-emissions future? Our latest report, Power Shift, compares G20 governments’ financing for coal projects and renewable energy projects abroad. Our findings indicate that countries are still financing more coal than renewables projects abroad. Some progress has been made in shifting flows away from dirty energy like coal and into clean energy projects like solar and wind, but more needs to be done.