World Bank still backs coal in Asia, despite climate claims, report reveals

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World Bank still backs coal in Asia, despite climate claims, report reveals
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GAIN ACCESS TO EXCLUSIVE MEMBER-ONLY EXPERIENCES, PRODUCT LAUNCHES, AND MORE THROUGHOUT…A new report shows that the World Bank continues to supply funding to some of Asia’s largest coal developers through its financial intermediaries.

The World Bank continues to indirectly finance some of Asia’s largest coal developers despite its pledges to stop doing so and align with the Paris Agreement, according to a new report from environmental and economic watchdogs.

Locals who are affected by coal power plants around Indonesia gather during a protest in Jakarta, Indonesia, demanding the government to switch from coal to renewable energy. Image by Hans Nicholas Jong/Mongabay Already, thousands of coal trucks clog the roads of the province, the report says, rutting and distorting the roads and leading to gridlock that prevents residents from accessing essential shops, businesses and health care services. Mine waste has also devastated natural water sources once used for drinking, bathing and fishing, with local residents telling report authors of resulting diminished livelihood prospects and reduced quality of life.

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