Climate Changed
Coal Gets $64 Billion Lifeline From G20 Governments Led by China
- Researchers show funds flowing from development agencies
- Increasing support contrasts with G20 pledge to cut emissions
A coal fired power plant on the outskirts of Beijing.
Photographer: Kevin Frayer/Getty Images.
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Asian governments are stepping up their support for coal-fired power plants, handing a lifeline worth $64 billion a year to an industry struggling to maintain investment from private investors.
The finding from four research organizations contrasts with pledges by the Group of 20 nations to rein in greenhouse gases and wean the world off the most polluting fossil fuel. China, India and Japan were responsible for the biggest proportion of that spending.