Experts at the Unlocking capital for sustainability forum observed that the finance sector, hampered by a short-term approach to investing, is lagging on sustainability, and that the financing of coal should be phased out as soon as possible.
While international banks are backing away from fossil fuels, Singapore's DBS, OCBC and UOB are fuelling climate change by financing new coal power projects in Southeast Asia, a group of 14 NGOs has said in an open letter calling on the banks to drop coal.
The Singapore-based bank has pledged to stop financing coal power projects—but only in developed countries. An NGO has said the policy "changes nothing" about the bank's efforts to tackle climate change.
Priyanka Mohanty –
China and India will account for 34 per cent of the world’s population and 32 per cent of its primary energy demand by 2030. The two countries' decisions on sustainable development will have ramifications for the future of the planet, writes WRI's Priyanka Mohanty.
and Goh Tian –
A new global alliance to phase out coal usage by 2030 is another major step forward for global climate action, but can it overcome the existing barriers to more low-carbon electricity production?
Australia must waste no time in shifting away from fossil fuels if the world is to meet its goal of capping global warming to 2 degrees Celsius above pre-industrial levels, says Point Advisory managing director Neil Salisbury.
Jeremy Hance, Mongabay.com –
At the 2017 World Economic Forum, former US Vice President Al Gore criticised the development of coal-fueled power plants near the world’s largest mangrove forest while Bangladesh Prime Minister Sheikh Hasina defended the projects.
Vaidehi Shah –
Far too many Australian politicians receive financial support from, and give subsidies to, the fossil fuel industry, say climate campaigners. A new initiative by 350.org Australia calls for pollution-free politics in the country.
Black & Veatch's sixth annual Strategic Directions in the U.S. Electric Utility Industry Report shows that the electric utility industry is starting to change how it operates. Factors ranging from ...