Ending the secrecy culture in public finance

Development finance is meant to benefit communities, climate and environment, but often enables some of the most destructive activities on earth.

The climate emergency and the alarming loss of the planet’s biodiversity are being compounded by ill-conceived, large-scale infrastructure projects, many of which are funded by public money. These include the construction of fossil-fuel-powered electricity generation plants that will generate greenhouse gases and pollution for decades to come, along with large hydro-power dams, mining projects and export corridors that slice through some of the world’s few remaining wild areas, intact forests, agricultural lands, and coastal areas.

Just finance International works to ensure that government-mandated finance and the flow of international financial support both catalyse climate and ecological justice and support the rights of resource-dependent communities.

What we work on:

Local residents at risk after China’s Zijin triples production in Serbia

Bor, in north-eastern Serbia, is one of the country’s most polluted cities. While local people protest their toxic air and water, Chinese mining company Zijin, which runs the city’s large-scale copper mining and smelting complex, is expanding its operations without permits, local consent or transparency.

Adding coal to fire

As governments negotiate on putting an end to the public financing of the world’s remaining international coal power projects, all eyes are on China and its next move.

New coal power plants are planned in Bosnia and Herzegovina – despite China’s pledges to stop building more coal power overseas

China, on the heels of the G20 and COP26, gave the world its pledge to stop financing coal power abroad. Still Bosnia and Herzegovina plans to build three new coal power plants, with committed and planned financing by China´s banks and state-owned enterprises. The impacts on environment and climate are wrapped into secrecy and deceptive assessments.

Deceptive feasibility studies for new coal power plants in Bosnia and Herzegovina

Three new coal power plants are planned in Bosnia Herzegovina, all potentially financed by Chinese companies. Just Finance has examined the assessments for Tuzla 7 and Ugljevik III, and found 11 serious errors or false assumptions in the pre-studies.

Chinese companies in Serbia

Disgraced in international operations

Chinese companies have invested in production, infrastructure and enterprises in Serbia since 2014. So far, very little is known about the backgrounds and track records of these companies, which have similar operations in other countries.

Just Finance did a global scan, and found reports of severe environmental violations, debarments from international banks, and repeated breaches of national regulations, including accusations of land grabbing.