Developed countries committed just ‘at least $300 billion per year’ from a variety of sources - including public and private - a figure that risks deepening the debt burden for vulnerable nations.
The report documents that in the six years since the Paris Agreement was adopted, the world’s 60 largest private banks financed fossil fuels with USD $4.6 trillion, with $742 billion in 2021 alone.
At present, 54% of coal projects in Indonesia’s pre-development pipeline are financed by China.
Description of coal finance has not changed since last year, and its exception provisions still allow the bank to provide financing to coal-fired power projects.
