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Home / Kaleidoscope / The G7 countries have secretly invested $42 billion in coal projects overseas

The G7 countries have secretly invested $42 billion in coal projects overseas

Страны G7 тайно вложили $42 млрд в угольные проекты за рубежом

Environmental organizations including the natural resources defense Council (NRDC), world wildlife Fund (WWF) and a large organization for the protection of the environment to Oil Change International, published on the eve of the G7 summit in Japan, a study with a long name: “Secret behind seven seals: How governments and international organizations secretly support the coal industry billions of dollars.”

As the name implies, the study focuses on investment in coal projects in developing countries. The study authors call the seven most developed countries in the world to stop financing coal overseas and power plants running on it, and invest in renewable energy.

The nature defenders and not only they, of course, drew attention to an interesting nuance, indicating the craftiness of the wealthy industrialized countries. At home, they sharply limited the financing of coal-fired power plants, in order to limit the emissions of greenhouse gases. Coal-fired power plant, as you know, are probably the main pollutants of our planet with harmful substances. Their emissions of harmful substances into the atmosphere in 2007-15 amounted to a total of 100 million tons.

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However, over the last 8 years (2007 – 2015) seven developed countries have invested in coal mines and infrastructure 42 billion dollars. All States and international organizations have invested on these purposes more than 73 billion dollars. These funds were invested in a variety of formats: direct investments, guarantees, technical assistance, etc.

Leading Japan. From the land of the rising sun came more than half of the investment is 22 billion dollars. Now Tokyo continues to act as if the window is not 21 and 19 century. In the coming years, Japanese companies intend to invest in coal mines in countries such as Mozambique or Myanmar (Burma), another 10 billion dollars.

In second place on “coal” investment is Germany with $ 9 billion. She is ahead of the US (5 billion), France (2.5 bn), Italy (2 billion), the UK (1 billion) and Canada (less than 1 billion). The main beneficiaries of “coal” billions are South Africa, India and the Philippines.

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“Financing coal-fired power plants and coal mines in the era of dangerous climate change,- said WWF Director of International program, NRDC’s Jake Schmidt, is a very irresponsible. It is contrary to the promises adopted in Paris, and binds developing countries to fossil fuels that should remain in the past, and not to renewable energy, to whom the future belongs”.

Simultaneously with the summit of G7 experts for the protection of nature and the environment will begin this week in Bonn to develop specific measures to implement decisions to reorient the global economy from fossil energy sources to renewable. These solutions, we recall, were adopted by the leaders and representatives of almost two hundred countries who gathered in December last year in Paris.

And we tell stories that mankind will save the renewable energy sources.

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