Well! Waddya know?!? U.S. Signals End of Public Money for Coal-Fired Power. The Treasury Department’s announcement is an important development in the effort to slow coal production and the pace of climate change. It’s a reminder that carbon-intensive energy, like coal, is not compatible with the goal of staying within 2 degrees of global temperature rise. ecowatch/2013/11/01/end-of-public-money-for-coal-power/ The Treasury’s guidance on this matter applies to all MDBs receiving U.S. funding, essentially banning U.S. public financing for overseas coal-fired power plants. At institutions like the World Bank, where the U.S. is the largest shareholder, this decision holds real significance. With around 1,200 proposed coal-fired plants around the world, it is clear that coal power is still alive and well. The Treasury’s announcement is an important development in the effort to slow coal production and the pace of climate change. It’s a reminder that carbon-intensive energy, like coal, is not compatible with the goal of staying within 2 degrees of global temperature rise.
Posted on: Fri, 01 Nov 2013 23:12:43 +0000
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