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The Asian Development Bank is backing new coal, despite climate pledges

A range of new coal power projects, including the 2,000-megawatt expansion of Southeast Asia’s largest and dirtiest coal plant, are getting backing from the Asian Development Bank (ADB), according to a new report from the environmental and human rights groups Inclusive Development International, Recourse, Trend Asia and the NGO Forum on ADB. Inclusive Development International […]

UK’s Standard Chartered assailed for financing Philippines coal boom

Mariveles Power Plant

Photo: The Mariveles Coal Power Plant, one of four financed by Standard Chartered. Photo: P199, CC BY-SA 4.0, via Wikimedia Commons Key Points: Human rights and environmental advocates filed a formal complaint with the UK government this week accusing Standard Chartered bank of contributing to human rights violations and failing to provide remediation for harms […]

Janji Palsu, Bank Dunia Masih Mendukung Puluhan Proyek Batubara Baru

International Finance Corporation (IFC), lembaga pinjaman swasta dari Grup Bank Dunia,secara tidak langsung mendukung puluhan proyek batubara baru di seluruh Asia, demikianmenurut sebuah laporan baru, Klaim Kosong: Bagaimana Pendanaan Batubara Menembus CelahHukum Paris Alignment oleh IFC. Laporan yang didasarkan pada penelitian yang dilakukan olehInclusive Development International, Recourse, dan Trend Asia, diterbitkan hari ini sebelumPertemuan Tahunan […]

World Bank is backing dozens of new coal projects, despite climate pledges

The International Finance Corporation (IFC), the private lending arm of the World Bank Group, is indirectly backing dozens of new coal projects throughout Asia, according to a new report, Blowing Smoke: How Coal Finance is Flowing through the IFC’s Paris Alignment Loopholes. The report, based on research conducted by Inclusive Development International, Recourse and Trend […]

Limbah Beracun dari PLTU Ancam Kesehatan dan Lingkungan, Masyarakat Banten Kecam Bank Dunia Karena Dukung Proyek Batu Bara Jawa 9-10

Limbah Beracun dari PLTU Ancam Kesehatan dan Lingkungan, Masyarakat Banten Kecam Bank Dunia Karena Dukung Proyek Batu Bara Jawa 9-10  Banten, 14 September 2023 – Masyarakat Banten secara resmi telah mengajukan pengaduan terhadap Grup Bank Dunia yang secara tidak langsung mendukung pembangunan dua pembangkit listrik tenaga uap (PLTU) batu bara Jawa 9 dan 10 ke […]

Watchdog Slams World Bank Group for Helping Bankroll Philippines Coal Boom

MANILA, Philippines – The World Bank Group’s private lending arm, the International Finance Corporation (IFC), violated its own environmental and social protection policies  as it helped bankroll a disastrous coal boom in the Philippines, according to an independent investigation made public today. In its report, the IFC’s internal watchdog, the Compliance Advisor Ombudsman (CAO), calls […]

Bowing to public pressure, Rizal becomes first bank in Philippines to exit coal

No Coal

Rizal Commercial Banking Corporation (RCBC) made the announcement after years of pressure from climate activists in the Philippines and  an investigation of the bank’s practices by one of its most prominent shareholders, the World Bank Group’s International Finance Corporation. “[N]o more coal. I’ll say that slowly: no more coal,” said the bank’s president and CEO, Eugene Acevedo, at […]

Saying no to coal: IFC’s new Green Equity Approach unveiled

No Coal

The World Bank’s private lending arm has unveiled its new approach to greening equity investments in financial institutions.  The International Finance Corporation (IFC) says it will end equity investments in financial institutions that do not have a plan to phase out investments in coal-related activities.  The “30 by 30 Zero Program” aims to help the banking […]