Methodology

The scope for this project includes any coal projects receiving foreign support from a major G20 public finance institution. The data for this project was last updated in November 2018. Data on completed projects is accurate from 2013 to mid-2018. Where available, data about upcoming projects was included if the probability of financing for a public finance institution was deemed to be high, due to public announcements of an intention to fund such a project, or evidence of a bilateral agreement to move forward with a coal project.

Data sources used include the Friends of the Earth report ECA Support For Coal in the Face of OECD Financing Restrictions, the NRDC Consolidated Coal Finance Database, websites for the financial institutions included in this report, news articles, CoalSwarm wiki pages posted on SourceWatch, Oil Change International’s Shift the Subsidies Database, and the Boston University Global Economic Governance Initiative on China’s Global Energy Finance. Additional information was provided through Solutions For Our Climate (SFOC) and the Japan Center for a Sustainable Environment and Society (JACSES). Since several public financial institutions, primarily from Germany, China and Korea, do not fully disclose their financial transaction information, it is possible that projects that were financed are missing from this list.

Financing for coal projects can be in the form of direct project financing (loans, grants or equity), guarantees that help insure coal projects, or broader lending for technical assistance. Most of the financing in this database is in the form of direct project financing. Loans through financial intermediaries are more difficult to track, and have only been included where information is available.

Financial institutions examined for this report include major multilateral development banks, export credit agencies, and bilateral development banks. The names of specific institutions are below.

Multilateral development banks (MDBs): World Bank, African Development Bank, Asian Development Bank, Asian Infrastructure and Investment Bank, Inter-American Development Bank, European Bank for Reconstruction and Development, and the European Investment Bank.

Export credit and insurance agencies (ECAs): Export Development Canada (EDC), France’s Compagnie Française d’Assurance pour le Commerce Extérieur (COFACE), Euler Hermes, Italy’s Servizi Assicurativi del Commercio Estero (SACE), Japan Bank for International Cooperation (JBIC), Nippon Export and Investment Insurance (NEXI-Japan), UK Export Finance (UKEF), Export-Import Bank of the United States (Ex-Im US), Export-Import Bank of Korea (Kexim), Export Credit Insurance Corporation of South Africa, Export Finance and Insurance Corporation (EFIC), Export-Import Bank of China, Korea Trade Insurance Corporation (K-sure), and Sinosure-China Export & Credit Insurance Corporation.

Bilateral development banks: Japanese International Cooperation Agency (JICA), Kreditanstalt für Wiederaufbau (KfW) [Germany], China Development Bank (CDB), Overseas Private Investment Corporation (OPIC) [USA], Russian Development Bank (VEB), Development Bank of Southern Africa, Agence Française de Développement [France], and Korea Development Bank (KDB).