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Coal Exit Policies continue to build, week by week, #52 to-date in 2020. New projects using this polluting fuel source are no longer commercially viable absent massive subsidies, nor is new coal power consistent with the climate science.
http://ieefa.org/finance-exiting-coal/ by @IEEFA_AsiaPac
http://ieefa.org/finance-exiting-coal/ by @IEEFA_AsiaPac
Great to see Inter-American Development Bank @the_IDB introduce a #coal exclusion policy as part of a policy to cease support for new gas exploration & development entirely.
#51 to-date in 2020, #140 GSFI in total.
http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=EZSHARE-2131049523-5
#51 to-date in 2020, #140 GSFI in total.
http://idbdocs.iadb.org/wsdocs/getdocument.aspx?docnum=EZSHARE-2131049523-5
The @IFC_org has introduced a new #coal exclusion policy to close a loop-hole that until now allowed the IFC to provide equity investments into emerging market financial institutions without ensuring they were aligned with Paris. #52 year-to-date 2020.
https://www.ifc.org/wps/wcm/connect/05541643-0001-467d-883c-5d7a127ffd57/IFC+Greening+Report+Sept+2020.pdf?MOD=AJPERES&CVID=niscDfR&ContentCache=NONE&CACHE=NONE
https://www.ifc.org/wps/wcm/connect/05541643-0001-467d-883c-5d7a127ffd57/IFC+Greening+Report+Sept+2020.pdf?MOD=AJPERES&CVID=niscDfR&ContentCache=NONE&CACHE=NONE
And this follows the leading Polish Bank PKO with its formal coal policy, as we noted last week. 
https://www.pkobp.pl/media_files/6b9ec504-250c-4508-80b9-5a13cfd17ace.pdf
https://www.pkobp.pl/media_files/6b9ec504-250c-4508-80b9-5a13cfd17ace.pdf
And September 2020 has also seen this excellent pre-announcement of a coal exclusion policy by Malaysia's CIMB. The first of a kind from a GSFI Islamic bank? 
https://www.theedgemarkets.com/article/cimb-come-coal-financing-policy-end2020 @CIMB_Assists
https://www.theedgemarkets.com/article/cimb-come-coal-financing-policy-end2020 @CIMB_Assists
And @generalelectric has acknowledged stranded asset risks and a Paris Alignment are inconsistent with new #coal plants.
Finally. Having flushed US$20bn down the drain in just 6 years and sacked 10,000s of staff, GE does the right thing. https://www.ge.com/news/press-releases/ge-pursue-exit-new-build-coal-power-market
Finally. Having flushed US$20bn down the drain in just 6 years and sacked 10,000s of staff, GE does the right thing. https://www.ge.com/news/press-releases/ge-pursue-exit-new-build-coal-power-market
Here is @ieefa_institute's report on @generalelectric from a year ago.
https://ieefa.org/ieefa-report-ge-made-a-massive-bet-on-the-future-of-natural-gas-and-thermal-coal-and-lost/ by @kathy_hipple, Tom Sanzillo and me.
https://ieefa.org/ieefa-report-ge-made-a-massive-bet-on-the-future-of-natural-gas-and-thermal-coal-and-lost/ by @kathy_hipple, Tom Sanzillo and me.
