China Declares an End to Financing Fossil Fuels Abroad
At present, 54% of coal projects in Indonesia’s pre-development pipeline are financed by China.
At present, 54% of coal projects in Indonesia’s pre-development pipeline are financed by China.
The analysis reviews policies and financing of central banks from Canada, China, the European Union, France, Germany, India, Italy, Japan, Russia, Switzerland, the United Kingdom and the United States.
The world already has more than enough renewable energy potential to comfortably make the transition away from fossil fuels and meet 1.5ºC target.
Concerted international efforts are needed for a sustainable and resilient economic future in developing world.
Coal mining remained the DNA of the group and they are targeting a coal production volume of 52-54 million tonnes, the same amount as their production last year.
This announcement comes ahead of the upcoming Leaders Summit for Climate today.