World Bank to limit financing of coal-fired plants

Reuters, By Anna Yukhananov and Valerie Volcovici, July 17

Washington – The World Bank’s board on Tuesday agreed to a new energy strategy that will limit financing of coal-fired power plants to “rare circumstances,” as the Washington-based global development powerhouse seeks to address the impact of climate change.

The Bank will amend its lending policies for new coal-fired power projects, restricting financial support to countries that have “no feasible alternatives” to coal, as it seeks to balance environmental efforts with the energy needs of poor countries.

Via Climate Progress: July 17 News: World Bank Won’t Finance Coal Plants Anymore Because Climate Change Hurts The Poor

Also, Climate Progress: NASA: Globally, June Was Second Warmest On Record

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