Big Investors dumping coal as a power source
The World Bank and European Investment Bank both announced in July a shift in their energy investments away from coal-fired power plants. Coal is a dirty fossil fuel power source, polluting local environments, damaging health and contributing to climate change. WWF has called on both organisations to completely phase out investments in fossil fuels and switch to renewables, and for the European Bank for Reconstruction and Development to do similar.
Five Nordic countries have committed to stop public financing for new coal-fired power stations overseas. The announcement in September by Denmark, Finland, Iceland, Norway and Sweden add to a growing movement by investors away from coal-fired energy.