Just Finance International welcomes the July 14th announcement by the Federation of Bosnia and Herzegovina (FBIH) government that it will reject a proposal for an alternative Chinese subcontractor for the proposed Tuzla 7 coal fired power plant, and calls on the Federation of BiH Parliament to choose to ditch the plant’s construction.
Ahead of this week’s European Parliament Committee on Foreign Affairs (AFET) vote on Serbia, Just Finance International and Serbia’s Renewables and Environmental Regulatory Institute (RERI) today published a legal analysis detailing how a weakening of law and transparency in Serbia has provided loopholes for large scale infrastructure investments, including from China, leading to reports of forced labour and human rights abuses, along with impacts on human health and the environment.
The Coalition for Monitoring Indonesia’s Infrastructure Development and supporting NGOs today called on the Asian Infrastructure Investment Bank (AIIB), the Indonesia Tourism Development Corporation (ITDC) and the Indonesian Government to stop AIIB financing for the quarter-billion dollar Mandalika Urban Development and Tourism Project, following a communication from the Special Procedures of the UN Human Rights Council.
The future of a planned 700 MW Ugljevik III coal power plant in Bosnia and Herzegovina is in doubt after one of the project companies, Sunningwell International Limited, confirmed that Chinese bank loans will not be available for the project.
Brussels, 16 December 2021: Reacting to the passing of an EU Parliament vote on an urgent resolution on forced Vietnamese labour in Serbia’s Linglong tyre factory, and environmental protests in Serbia , Wawa Wang, program director of Just Finance International, said: “The overwhelming majority of Members of the European Parliament today recognised there is a… Continue reading Reaction to EU Parliament Resolution on forced labour in Serbia’s Linglong tyre factory and environmental protests in Serbia
Glasgow, 4 November 2021 – Today at COP26, more than 20 countries and institutions, including the United States, Canada, Mali and Costa Rica, launched a joint statement committing to end direct international public finance for unabated coal, oil and gas by the end of 2022 and prioritize clean energy finance. After a wave of commitments… Continue reading CSOs welcome political commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow suit
Paris, 4 November 2021: Just Finance International today branded a revised OECD agreement intended to restrict export credit to support international coal-fired power plants as “full of loopholes”, as it allows continued pollution of the global environment. In practice, the new agreement – a revision of a 2015 agreement and effective as of 1 November… Continue reading Revised OECD Agreement on Export Credit Restrictions for Coal Plants “Full of Loopholes”
G20 nations including China have agreed to ending public financing for international coal-fired power projects this year, following on from similar commitments by the G7 and the OECD. China, the world’s top financier for the construction of international coal-fired power projects, still currently has over 1.7 GW of planned coal-fired power plants and the 350 MW Kostolac B3 coal-fired power project under construction in the Western Balkan countries in Southeast Europe… Continue Reading
Just Finance International and the Heinrich Böll Foundation are launching a joint report today which examines how the revised safeguard policy of the Asian Infrastructure Investment Bank (AIIB) fails to improve its accountability and transparency. Continue Reading
Every year, G20 countries give tens of billions of taxpayer-backed money to the fossil fuel industry via secretive government agencies known as Export Credit Agencies (ECAs). We can’t address the climate crisis effectively if our governments continue to prop up fossil fuels. Continue Reading
Find out more and sign the letter to world leaders urging them to stop supporting the fossil fuel industry via public financial institutions: http://www.fossilfreeecas.org