Japan: Building coal plants is “climate finance”

Watts Up With That?


Guest essay by Eric Worrall

The Minerals Council of Australia has pushed back at coal divestment campaigns, by pointing out that Japan has joined the Asian infrastructure rush, by offering “climate finance” loans to aid the construction of up to 1000 new high tech coal power plants throughout Asia.

According to The Australian;

More than 1000 “high-efficiency” coal-fired electricity generation plants are planned or under construction in key Asian nations, according to new research that provides a fillip for Australia’s thermal coal exporters hit by the fossil fuel divestment push.

The research, produced by the UK’s IEA Clean Coal Centre and obtained by The Australian, is significant as the hi-tech plants typically emit 20 to 25 per cent less carbon dioxide than existing power stations.

Commissioned by the Minerals Council of Australia, it finds that an extra 1066 “high-efficiency, low-emission” coal plants are planned or under construction in 10 Asian…

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