Japan to End Financing of Key Coal Projects Under Climate Pledge

Wed, 27 Jul 2022 18:31:06 +1000

Andrew Pam <xanni [at] glasswings.com.au>

Andrew Pam
https://archive.ph/pwOzF

"Japan will withdraw financing for key coal-fired power plant projects in
Bangladesh and Indonesia under efforts aimed at accelerating a global phase-out
of the dirtiest fossil fuel.

Asia’s second-largest economy will stop providing government-backed yen loans
to the Matarbari 2 coal expansion project in Bangladesh and the Indramayu plant
in Indonesia, the country’s Foreign Ministry said in a statement.

The move comes days ahead of a meeting of Group of Seven nations, which agreed
last year to stop international financing of coal projects. Japan initially
opposed that move, and while it subsequently tightened conditions for overseas
coal projects, it has faced sharp criticism over its support for new
developments under certain condition.

Japan accounted for more than half of the $6.6 billion of coal support from G-7
countries in 2019, according to Bloomberg NEF."

Via Future Crunch Jul 2, 2022:
https://futurecrunch.com/good-news-malaria-bullfighting-offshore-wind/

Cheers,
       *** Xanni ***
--
mailto:xanni@xanadu.net               Andrew Pam
http://xanadu.com.au/                 Chief Scientist, Xanadu
https://glasswings.com.au/            Partner, Glass Wings
https://sericyb.com.au/               Manager, Serious Cybernetics

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