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.
Last week, the UN Climate Summit in Lima, Peru, kicked off amid controversy with news that Japan had counted
loans for coal projects in Indonesia as international climate finance.
Originally posted on Environmental Finance Last week, the UN Climate Summit in Lima, Peru, kicked off amid controversy with news that Japan had counted loans
for coal projects in Indonesia as international climate finance.
The NGO
called for coal projects to be excluded from the fund and renewable or energy efficiency schemes be given priority.
The United States in particular has awarded at least $ 4.4 billion in funding
for coal projects through the U.S. Export - Import Bank and multilateral development banks.
The company cites three reasons: (1) an increase in costs to $ 2 billion due to «worldwide demand for engineering, skilled labor, equipment and materials»; (2) the Rural Utilities Service's cancellation of
financing for coal projects; and (3) the increased regulatory and cost uncertainties surrounding carbon dioxide.
The IEA notes that financing
for some coal projects is becoming more difficult to obtain.
Murray said that despite the Trump administration's efforts, financing
for coal projects is extremely hard to obtain.