Saturday, December 14, 2013

Another International Lender Pledges No More Coal

Fred Hochberg, chairman and president of the U.S. Export-Import Bank, speaks during the bank's annual conference in Washington, D.C., on Thursday, April 4, 2013. Ex-Im announced Thursday that it will no longer support most coal plants abroad. (Credit: Bloomberg via Getty Images) Click to enlarge.
The U.S. Export-Import Bank has joined the growing list of international financial institutions that will no longer finance coal projects abroad.

Ex-Im is the official export credit agency for the U.S., focused on providing financial support to projects that spur the export of U.S. products and services.  On Thursday, the bank announced that it has revised its environmental guidelines to no longer support "high carbon intensity plants," except in countries with no other financially feasible options, or when a plant has carbon capture technology in place.

Another International Lender Pledges No More Coal

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