Tag Archives: market forces

Asia’s coal-fired power boom ‘bankrolled by foreign governments and banks’

coal-fired stations in asia
The coal industry says the growth of coal-fired stations in Asia is proof of a bright future for the fuel. Photograph: Lu Guang/Greenpeace

The vast majority of newly built stations in Indonesia relied on export credits agencies or development banks, says study by Market Forces

July 20, 2017 — The much-discussed boom in coal-fired power in south-east Asia is being bankrolled by foreign governments and banks, with the vast majority of projects apparently too risky for the private sector. Continue reading Asia’s coal-fired power boom ‘bankrolled by foreign governments and banks’

Big Australian banks invest $7bn more in fossil fuels than renewables

coalmines
Australian banks continued to fund coalmines in 2016 despite committing to support the Paris climate agreement pledge to keep global warming below 2C. Photograph: Viktor Drachev/Tass

ANZ, NAB, Commonwealth Bank and Westpac provided three times more for non-renewable than clean energy projects in 2016, says Market Forces

March 5, 2017 — Australia’s big four banks invested three times as much in global fossil fuels as they did in clean energy in 2016, despite pledging to help Australia transition to a low carbon economy. Continue reading Big Australian banks invest $7bn more in fossil fuels than renewables