UK position on public financing of coal plants overseas

● Written Ministerial Statement by Edward Davey on the UK's position on the public financing of coal plants overseas delivered on 21 November 2013 ● Today, along with my right honourable friend the Secretary of State for International Development, I am announcing that the government of the UK is joining the United States in agreeing to end support for public financing of new coal-fired power plants overseas, except in rare circumstances. We will work together to secure the support of other countries and Multilateral Development Banks (MDBs) to adopt similar policies. The UK government recognises that energy infrastructure investment is critical to economic growth and poverty reduction in many developing countries, and that MDBs have an important role in financing energy investment. However, investments in new coal-fired energy production risk locking countries in to higher levels of carbon emissions over the coming decades. In order to avoid dangerous climate change, it is estimated that global coal demand will need to fall by 45% from 2009 levels by 2050. Globally we need to rapidly move away from unabated coal power generation. That is why we are calling for an end to supporting public financing of new coal-fired power plants overseas, except in rare circumstances. Our position brings the UK in line with the significant international actions already taken by others including: The US: in June 2013, President Obama called for an end to US support for public financing of new coal plants overseas except for the most efficient coal technology available in the world’s poorest countries in cases where no other economically feasible alternative exists or facilities deploying Carbon Capture and Sequestration technologies. The World Bank: in July 2013, the World Bank’s Board agreed to a new energy strategy to limit the financing of coal-fired power plants to rare circumstances ...Zum vollständigen Artikel

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