Nations paid $42bn on coal power plants amid 2013 – 2019: Almost $42 billion (£30.3bn) was spent on coal power plants in 18 countries throughout a 6 year timeframe, between 2013 & 2019.
This is reported from current research by Sustainable Energy for All (SEforALL) & Climate Policy Initiative (CPI), that indicates governments persist to finance more coal-fired generation capacity in South Asia as well as Sub-Saharan Africa.
The study demonstrates Bangladesh, India & Pakistan obtained the bulk of financial obligations to new coal projects.
The writers of the report further note Chinese financial organisations made up for almost 40% of the total $42 billion (£30.3bn) financing in coal power.
Olivia Coldrey, Head of Energy Finance and Clean Cooking at SEforALL, stated: “We continue to see significant investment in coal fired power generation in countries with high rates of energy poverty.
“These countries need affordable, reliable & clean energy to support their socio-economic development & to mitigate climate change. Financing new coal projects is inconsistent with these objectives & holds back the energy transition.”
Nations paid $42bn on coal power plants amid 2013 – 2019