International Finance Corporation tightens rules on coal plant financing

first_imgInternational Finance Corporation tightens rules on coal plant financing FacebookTwitterLinkedInEmailPrint分享Reuters:The World Bank’s private-sector arm has introduced new climate change conditions for its investments in commercial banks to encourage the lenders to wind down support for coal projects in Africa and Asia.The International Finance Corporation (IFC), which owns equity stakes in many large commercial banks in emerging markets, hopes the restrictions will trigger other investors to exit the coal sector.“I think this is an important milestone. If we look historically, our environmental policies and procedures have been adopted by both other development finance institutions and the market in general,” Peter Cashion, head of climate finance in the IFC’s Financial Institutions Group, told Reuters.Under the new rules, in effect since July last year but published on Sept. 17, the IFC will no longer make equity investments in financial institutions that do not have a plan to phase out support for coal. The IFC will also use various conditions attached to its existing and new equity investments to ensure that the banks involved reduce their exposure to coal to zero by 2030.The IFC exerts considerable influence over commercial banks in emerging markets, which often turn to the Washington-based lender for both access to capital and the kind of governance expertise that helps them build credibility among investors.Apart from the IFC’s being a major investor in its own right, its standards are widely adopted by the private sector.[Matthew Green]More: World Bank’s IFC adopts new climate rules to deter lenders from backing coallast_img read more

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Joe Biden’s popular vote lead is now larger than the populations of these 22 states

first_img– Advertisement – Connecticut, Utah, Iowa, Nevada, Arkansas, Mississippi, Kansas, New Mexico, Nebraska, Idaho, West Virginia, Hawaii, New Hampshire, Maine, Montana, Rhode Island, Delaware, South Dakota, North Dakota, Alaska, Vermont, and Wyoming. Connecticut’s population is around 3,563,080 and Wyoming’s is around 567,025. In fact, you could take the populations of South Dakota, North Dakota, Alaska, Vermont, and Wyoming, add them up and still not reach the difference in people who have preferred Joe Biden to Donald Trump.If (and when) Joe Biden becomes the 46th president of the United States of America, the Republican Party will predictably do what they have always done for the last 40-odd years or so, and pretend that new rules of compromise exist and, most importantly, that the Democratic Party and Joe Biden does not have a mandate. However, this lie, while repeated often by GOP operatives, is still a lie. The numbers and the facts are in. The majority of the country wants new leadership and it is the Republican Party that needs to find compromises it can live with or we will be forced to go it alone.  As of right now, the list includes in descending or from largest population to smallest:Campaign Action- Advertisement –last_img read more

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