The sound of explosions, heavy dust in the air and polluted rivers plague the residents of the Serbian mining town of Bor, where a Chinese company bought the mine in 2018. The cooperation between the EU candidate country Serbia and China has intensified in recent years, but there are both environmental and political risks with the Chinese projects – and growing local opposition
By providing core finance for the project, AIIB must take responsibility for its complicity in bankrolling the Mandalika project, where its client and project proponents have been implicated in inflicting human rights violations and fueling land conflicts.
Just Finance International said the Zijin Mining project is one of the many highly polluting Chinese investments undertaken “without necessary environmental and social due diligence”
Analysis by Just Finance International found that Chinese state-owned enterprises entered into overseas coal power contracts worth more than $18bn in 2021
“I think the pledge is quite limited because it addresses the ‘new’ aspect only,” said Wawa Wang, program director of Just Finance International, adding that the government’s definition of “new” allows China to continue building dozens of plants.
Wawa Wang (director, Just Finance) interviewed by the Financial Times on Chinese influence in Serbia.
Nick Ferris, Energy Monitor, 20 April, 2022: One of the big climate wins of 2021 was the announcement from China, Japan and South Korea that they would no longer fund new coal plants overseas. For China, this was massive: the country had long been the biggest funder of coal plants worldwide, with these projects forming a… Continue reading Energy Monitor: Should we be worried about coal’s resurgence?
“China has announced its intention to phase out financing of overseas coal-fired power. But the details remain unclear. For example, will China also stop projects that have already been started? Wawa Wang and Dr. Vanessa Buth from the non-governmental organization Just Finance International, which campaigns for more transparency in public procurement, reviewed China’s numerous coal projects in the Western Balkans. They urge the EU and Germany to call on China to disclose its overseas coal policies.”
The latest report by the international organization Just Finance, which investigates Chinese investments around the world, states that several laws were violated during the construction of one of the most important roads in Serbia.
Wawa Wang, director of Just Finance International, said Chinese funding continues to exacerbate the climate crisis in the Western Balkans, a region where Chinese loans can expand new coal projects.