Swept Under the Rug: How G7 Countries Conceal Public Financing For Coal Around The World.
Published by Natural Resources Defense Council, Oil Change International, WWF, Kiko Network, Japan Center for a Sustainable Environment and Society and Friends of the Earth Japan, May 2016.
This report highlights the contradictory public financing of coal projects among the G7 countries between 2007 and 2015, despite recent commitments made in Paris to transition their economies away from fossil fuels. The report finds that from 2007 to 2015, G7 countries have provided more than $42 billion in the form of direct finance, guarantees, technical assistance, and aid for coal power, coal mining, and related projects.
Japan continues to be the worst G7 offender when it comes to public financing for coal projects, providing $22 billion from 2007 to 2015. Germany comes in second, providing $9 billion during the same period. In 2015 alone, G7 countries provided $2.5 billion for coal finance—despite new commitments to limit export credits for coal finance. Japan not only financed $1.4 billion in coal projects in 2015 but is considering nearly $10 billion in future coal projects, a figure that is likely an underestimation since it is based mostly on publicly available data.