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.
The future of the planned 450 MW Tuzla 7 lignite plant in Bosnia and Herzegovina is again in doubt after the country’s State Aid Council revoked its decision to approve a public guarantee for a EUR 614 million loan from China Eximbank last week, four years after the Council’s initial clearance. 5 July 2022 The… Continue reading Bosnia’s planned Tuzla 7 lignite plant on the rocks after state aid U-turn
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.
Industrial parks at three of Indonesia’s nickel hotspots – Obi Island, Morowali and Weda Bay – aim to have 14 coal power plants with 71 turbines, totalling 12,579 MW, according to GEM data. That’s more than double the 6,109 MW of captive power the nation’s nickel industry already has in operation. Tsingshan, which runs the… Continue reading China Dialogue:Coal-powered industrial parks test Indonesia’s climate pledges – and China’s too
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.
“China will keine neuen Kohlekraftwerke im Ausland bauen. Opfer könnten nun Projekte auf dem Balkan werden. Umweltschützer sind erfreut, bleiben aber skeptisch.”
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.
if the announcement only applies to projects announced from September 2021 onwards, it will have “very few climate-saving impacts because negotiation and implementation of any agreement for coal takes years” and the average coal-fired power plant operates for at least 40 years, says Wang Wawa, programme director at Just Finance International.
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.
The contaminated ash from the Tuzla coal power plant is mixed with water and pumped out into a dessert-like field a few kilometres outside the city centre. Well-implemented environmental impact assessments and feasibility studies are crucial for governments to make fully informed decisions. Underestimating environmental impacts or miscalculating costs will not only undermine accountability, but… Continue reading Deceptive feasibility studies for new coal power plants in Bosnia and Herzegovina