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Environment & Energy Report

Coal Gets $64 Billion Lifeline From G20 Governments Led by China

June 25, 2019, 1:17 PM

Asian governments are stepping up their support for coal-fired power plants, handing a lifeline worth $64 billion a year to an industry struggling to maintain investment from private investors.

The finding from four research organizations contrasts with pledges by the Group of 20 nations to rein in greenhouse gases and wean the world off the most polluting fossil fuel. China, India, and Japan were responsible for the biggest proportion of that spending.

The report released in advance of the G20’s annual summit in Osaka, Japan, underscores the importance of government-backed development banks and export credit agencies, which were major conduits...

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