(China Dialogue, London, 15 November 2016) G20 countries have financed US$76 billion in coal projects in the past nine years. With more projects in the pipeline, they should stop coal financing or risk creating stranded assets, writes Natural Resources Defense Council‘s Chen Han… As the threat of climate change looms, the world must transition to cleaner energy as quickly as possible and avoid burning most fossil fuel reserves. Coal is of particular concern. It accounts for 40% of global carbon emissions from fossil fuel use, which is more than any other individual source. Despite last year’s Paris Agreement, G20 countries – the world’s largest economies – continue to invest in projects that increase the world’s dependence on coal. Last month we noted that OECD ECAs are scheduled to limit support to so called less environmentally friendly coal-fired power projects after January 2017.
