Another important issue with regard to the war on Ukraine: the World Bank Group’s finance involving Russia and Belarus. We support the efforts of CEE Bankwatch, Ukrainian NGO Ecoaction and Urgewald’s joint letter to WB Executive Directors, urging them to stop equity investments, trade finance and guarantees involving entities linked to Russia and Belarus.
Category: News
China’s 2021 “international coal-exit’’ pledge: a transparency problem
Download briefing as pdf here March 2022 China’s pledge to stop building new coal-fired power plants abroad, announced during the UN General Assembly in September 2021 – and reiterated during a EU-China dialogue on climate in October 2021 – was met with enthusiasm. Yet, half a year later, little is known about the extent of… Continue reading China’s 2021 “international coal-exit’’ pledge: a transparency problem
92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing
Paris, March 10th, 2022 – A month after the European Commission approved the inclusion of fossil gas and nuclear energy into the EU taxonomy, 92 NGOs and CSOs call on financial institutions to reject this greenwashing attempt by excluding both energies from their “sustainable” or “green” funds and bonds. This open letter appears in the… Continue reading 92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing
Serbia’s E-763: How China is constructing a high-speed road without a license
Highway E-763, which connects Belgrade and Montenegro, has been built with impressive speed outside the Serbian city of Cacak. But local communities complain of noise, pollution and devastated eco systems. The main contractor, Chinese state-owned company CCCC, is accused of excavating gravel for the road without obtaining the necessary permits.
Uprkos Xijevoj datoj riječi, Kina nije odustala od finansiranja termoelektrana na ugalj u Bosni i Hercegovini
Foto: Just Finance International (2021) Pišu: Wawa Wang i Nils Resare 30/11/2021 Mile Krstić očekuje novog komšiju. Svega nekoliko stotina metara dalje od njegove kuće, pripremljeno je zemljište za izgradnju nove termoelektrane u Ugljeviku, bloka III, koji će graditi kineske i poljsko-kineske firme. Krstićevu kuću odranije okružuje velika rudarska industrija u ovom gradu. TE Ugljevik… Continue reading Uprkos Xijevoj datoj riječi, Kina nije odustala od finansiranja termoelektrana na ugalj u Bosni i Hercegovini
The Diplomat: Despite Xi’s Pledge, China Is Financing Coal Power Plants in Bosnia and Herzegovina
Despite a pledge to stop financing coal power abroad, overseas coal power plants financed by Chinese banks and state-owned enterprises are still moving forward – including in Bosnia and Herzegovina. Read the full story by Wawa Wang and Nils Resare in the Diplomat here.
Chinese coal power still in Bosnian pipeline
Mile Krstić is expecting a new neighbour: just a few hundred metres from his house, the ground has been prepared for the new coal-fired power station, Ugljevik III. His house is already surrounded by the city’s substantial coal industry: Ugljevik I, one of Europe’s most polluting coal fired station, are in front of it, and… Continue reading Chinese coal power still in Bosnian pipeline
Adding coal to the fire
Our research on China’s new and ongoing international coal-fired power deals show that while project completion rate is on the decline, and the cancellation rate of projects in a number of countries has risen during the past year, there is a risk that over 3,645 megawatts of newly announced deals from 2021 in Bosnia and Herzegovina, Indonesia, the Philippines, and Serbia, as well as over 10 GW of planned projects in six countries across Europe, Asia and Africa may receive financing or at risk of getting built and put into operation.
G20 Is Opportunity for China to Make Good on its Coal Phase-out Promise – Just Finance International
Copenhagen, 27 October 2021:- China must provide clarity on whether its “international new coal projects exit” covers existing projects during this weekend’s G20 gathering in Rome, or run the risk of building outdated, unwanted climate-warming coal-fired electricity capacity, according to Just Finance International. The commitment to exit coal projects was made by Chinese leader Xi… Continue reading G20 Is Opportunity for China to Make Good on its Coal Phase-out Promise – Just Finance International
An Open Letter : NGOs call on the AIIB Board not to approve sovereign financing to Belarus
In the situation of the ongoing social and political crisis in Belarus, the regime of Alexander Lukashenko, while demonstrating the practices of the occupying government in their own country, continues to use the resources of international inter-governmental financial systems for the purpose of retaining their own power.