These 3 Coal Plants Might Not Get Japan Funds Under New Rules
- Asia, Africa projects fall short of guidelines: Market Forces
- Japanese banks have committed to funding less coal generation
Photographer: Tomohiro Ohsumi/Bloomberg
Three coal-fired power plants under consideration in Vietnam, Botswana and Mongolia supported by Japanese banks probably wouldn’t be eligible for financing under more climate-friendly guidelines emerging from the Asian country’s financial institutions, according to research by a climate-change advocacy group.
The facilities, with a combined capacity of 2,070 megawatts, fall short of some of the stricter financing guidelines set by Japanese banks this year because they fail to use more advanced air-pollution technologies, Market Forces said in a report to be published Tuesday. The Australia-based group, which advocates for climate-friendly investment, identified 10 coal-fired power projects for which at least one of Japan’s three major banks are providing advisory services or considering loans.