92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing

March 10, 2022 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… Continue reading 92 civil society organizations call on financial institutions to avoid taxonomy-aligned greenwashing

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.

CSOs welcome political commitment to end international oil, gas, and coal finance by end of 2022, say others need to follow suit

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

Response: G20 ends public financing for international coal-fired power projects, we ask China to walk away from Western Balkan coal projects immediately.

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

Need for improved OECD environmental assessment standards and transparency

Just Finance International would like to seize this opportunity and suggest ways in which to improve how and when OECD members carry out environmental and social impact assessments (ESIAs). The latter determine the impact OECD projects would have on the climate and environment and form the basis of decision for whether a project may go ahead or not.

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

Asian Infrastructure Investment Bank: Increasing Loss of Transparency and Control by International Partners

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