Coal industry supporters oppose these cuts, arguing that governments should invest more in
coal projects in developing countries.
However the report argues that the trend of Chinese public institutions leading in the financing
of coal projects will change.
Between 2007 and 2013 public financial institutions provided at least $ 51 billion in funding
for coal projects abroad.
Governments and global financial institutions are backing billions of dollars in
overseas coal projects, despite calls to curb the world's harmful greenhouse gas emissions.
When you talk
about coal projects in the developing world, I think you need to put this in perspective.
Public finance institutions are a big part of the climate problem, providing over $ 73 billion for
coal projects between 2007 and 2014.
The bank's funding for
coal projects fell to $ 20 million in 2014, from $ 500 million in 2013, the report found.
With the use
of coal projected to continue to grow over the coming decades, a cleaner coal technology pathway is necessary if international climate objectives are to be met.
Directors of
clean coal projects at Australia's power plants boil their future down to confidence: «We have to address urgently the need for large demonstrations to get that confidence,» said one during Australia's first national CCS conference in Melbourne.
The organisers of the People's Communique are urging Ms Figueres to accept their call for the ban on
new coal projects as a formal submission to the talks
This is the message that African activists are going to convey to their local and national leaders, as well as to international institutions like the African Development Bank that continues to fund
coal projects on the continent.
Given the recent actions the U.S. has taken to address climate change, it's very troubling that the U.S. government is still considering financing
coal projects at all.
In the past week we've received good news on major
proposed coal projects that pose a threat to communities and beautiful places, from both the eastern U.S. and the western U.S. First, last Friday a federal court cited climate change as a major reason for rejecting federal agencies» approval of a coal mine expansion plan that would bulldoze roads through the pristine and beautiful Sunset Roadless Area wilderness in Western Colorado.
Fox Resources has announced plans to sell its Bundaberg
coking coal project in Queensland, while shifting focus on developing its Western Australian projects.
The bad news is that such retrofitting is even more economically and technologically challenging than building a FutureGen clean
coal project from square one.
All eyes are on the next big opportunity to put the Commission's call to action into practice: countries must agree to narrowly limit their support of export credits to overseas
coal projects through the Organisation for Economic Co-operation and Development (OECD).
Although China is rapidly moving away from coal in its domestic economy, the Chinese export finance machine is still pushing
coal projects around the world, as long as they use Chinese equipment and expertise.
A choking smog across much of northern China threatens not just the health of local residents, but also of
major coal projects globally that are still on the drawing board.
Indian Power Minister Piyush Goyal told The Australian yesterday the years of legal challenges to the vast
Carmichael coal project, now revealed to have been funded by multi-million-dollar foundations in the US, «will certainly dampen future investments» from India...
Financing for any new
thermal coal projects limited to existing coal producing basins and where the calorific value of coal meets the energy content of at least 6,300 kCal / kg Gross as Received — i.e. projects must rank in the top 15 % globally.
Our partner groups Voters Taking Action on Climate Change and Communities and Coal are in court this week, arguing bias in the Port of Vancouver's decision to approve the controversial Fraser Surrey
Docks coal project.
SHANGHAI (Reuters)- A choking smog across much of northern China threatens not just the health of local residents, but also of major
coal projects globally that are still on the drawing board.
It's time for Ex-Im to listen to the 109 Indian CSOs and all the communities affected by these
dangerous coal projects and commit to rejecting the unnecessary, outdated coal agenda once and for all.
Another
massive coal project proposed to be built near the Sundarbans, the Rampal coal plant, just secured financing from India's Export - Import Bank.
«Three of France's biggest banks have taken the unusual step of writing letters committing not to
fund coal projects in Australia's Galilee Basin, in a potential blow for the three big projects slated for the region.
Hurwitz added, «President Obama has already promised to wind down support for
dirty coal projects overseas.
There is still time for the World Bank to do the right thing and halt this dirty
coal project as well as further WBG support of coal development more generally.
Possible U.S. Ex-Im Bank financing of the Orion
Khulna coal project comes on the heels of several high profile initiatives by the Obama administration to fight climate change.
In fact right now in may back nearly 9 gigawatts of humungous coal - fired power plants in India and South Africa.A final review for the 3.96 GW Sasan Ultra Mega Power & Mine Project in India and another loan for the 4.8 GW
Kusile coal project in South Africa are currently in process.
At the signing ceremony in July that finalized plans for Dubai's 2,400 - megawatt
Hassyan coal project, the Chinese group set to build the plant and the Saudis who will operate it were joined by a partner: an executive from General Electric ge, standing proudly near a backdrop boasting the familiar blue GE logo.
Local company Prairie Mining has raised $ 15 million from UK - based CD Capital for the development of its
Lublin coal project, with the potential for the private equity fund to invest a further $ 68 million.
Auminco Mines has signed a memorandum of understanding with Mongolian cement manufacturer Khutul Cement and Lime for the supply of coal from its Berkh
Uul coal project.
The previous year's result was boosted by the sale of stakes in Arrow Energy and the
Lenton coal project in Queensland.
The Yancoal transaction followed the $ US606 million sale of Rio's 40 per cent stake in the Bengalla coal mine to New Hope, and the $ US220 million sale of the Mt
Pleasant coal project in NSW in 2016.
With China's coal demand the primary driver for a slew of mine investments over the past decade, this trend could derail a list of capital
intensive coal projects from Australia to Indonesia and Mozambique.
For example, Abbot Point could be expanded further to accommodate the Alpha
North Coal Project, another recently approved scheme to extract and export coal from the Galilee basin.
A Dec. 11 article in The New York Times, «China's Emissions Pledges Are Undercut by Boom in
Coal Projects Abroad,» cited the research of Phillip Hannam MPA «15, a doctoral candidate in the Woodrow Wilson School's Program in Science, Technology and Environmental Policy (STEP).
Despite bending over backwards to fast
track coal projects, Modi's administration now faces serious setbacks to advancing coal power.
Solid Energy is also pursuing the development of
unconventional coal projects: the Huntly Underground Coal Gasification Pilot Plant, a commercial trial of underground coal gasification on private land within its Huntly coal lease; a coal seam gas demonstration plant on the Huntly coalfield; the Mataura Lignite Briquetting Plant, a lignite briquette plant at Matuara; and studies on a lignite to fertiliser project and a coal - to - liquids project in Southland.
Thats because while the courts ruling doesn't end coal expansion, it does potentially push the reset button — a death knell for dozens of
coal projects hanging by a financial thread.
Companies that misread the signals and overinvest in marginal oil, gas and
coal projects based on a false sense of security could destroy shareholder value worth billions of dollars»