Posted by: Peter Black | April 23, 2009

$37 Billion of Public Funds Invested into Coal Fired Power Plants since 1994


Today EDF released a report on the relationship between publicly funded international financial institutions (like the World Bank) and coal fired power plants which harm both regional human health and the atmosphere.

Here are a couple of key facts from the report:

– Since 1994, the World Bank, other MDBs and ECAs financed new construction or expansion of 88 coal-fired power plants.

– These plants will generate roughly 791 million tons of CO2 emissions per year, or more than 75% of the current emissions for coal-fired power in the entire European Union.

Bruce Rich, a long time crusader for reform of these institutions, spearheaded this work. Among his recommendations: immediately shift any future money for coal plants into renewables.

I think that makes great sense…



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