New report on international coal finance

A report by the Natural Resources Defence Council reveals that G20 nations are considering more than USD 24 billion in financing for new dirty coal projects around the world, with Japan planning to finance USD 10 billion, China USD 8 billion, and South Korea USD 2 billion. The top three recipient countries are Indonesia (USD 11 billion), Vietnam (USD 10 billion), and South Africa (USD 7 billion). Indonesia and South Africa are G20 members. Low-income countries received less than 2 per cent of G20 international coal financing, with most of the money going to middle- and high-income countries. Between 2007 and 2015, G20 nations financed
USD 76 billion worth of international coal projects, with China, Japan, Germany, and South Korea accounting for four-fifths of this financing.

Carbon Trap: How International Coal Finance Undermines the Paris Agreement is available at:

www.nrdc.org/resources/carbon-trap-how-international-coal-finance-undermines-paris-agreement