GLObAL COAL RISK ASSESSmENT - World Resources Institute
GLObAL COAL RISK ASSESSmENT - World Resources Institute
GLObAL COAL RISK ASSESSmENT - World Resources Institute
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Figure IV.1 | Top International Public Financers of Coal<br />
Plants in Asia<br />
Source: www.CoalSwarm.org<br />
Asian Development bank (ADb)<br />
bank of China<br />
China Development bank<br />
China Exim bank<br />
Euler hermes<br />
Export Credits Guarantee Department (ECGD)<br />
Export-Import bank of Korea (Kexim)<br />
International Finance Corporation (IFC)<br />
Japan bank for International Cooperation (JbIC)<br />
Korea Export Insurance Corporation (KEIC)<br />
Kreditanstalt für Wiederaufbau (KfW)<br />
Nippon Export and Investment Insurance (NEXI)<br />
Overseas Private Investment Corporation (OPIC)<br />
Sinosure<br />
US Export-Import bank<br />
<strong>World</strong> bank (IbRD/IDA)<br />
Direct subsidies for new coal power plants and coal mines<br />
are widely applied in the European Union. For example,<br />
until 2020, construction of new high-efficiency coal<br />
plants with carbon capture and storage implementation<br />
can receive financial support of up to 15 percent of total<br />
investment. 87 The European Union requires that coun-<br />
Figure IV.3 | Top 20 Commercial banks Financing Coal (in million euro, 2005–2011)<br />
JPmorgan Chase<br />
Citi<br />
bank of America<br />
morgan Stanley<br />
barclays<br />
Deutsche bank<br />
Royal bank of Scotland<br />
DNP Paribas<br />
Credit Suisse<br />
UbS<br />
Goldman Sachs<br />
bani of China<br />
Industrial and Commercial bank of China<br />
Credit Agricole/Calyon<br />
UniCredit/hVb<br />
China Construction bank<br />
mitsubishi UFJ Financial Group<br />
Société Générale<br />
Wells Fargo<br />
hSbC<br />
Global Coal Risk Assessment<br />
Figure IV.2 | Top International Public Financers of Coal<br />
Plants in Europe*<br />
black Sea Trade and Development bank (bSTDb)<br />
Compagnie Francaise d'Assurance pour le<br />
Commerce Exterieur (COFACE)<br />
Euler hermes<br />
European bank for Reconstruction and<br />
Development (EbRD)<br />
European Investment bank (EIb)<br />
Export Development Canada (EDC)<br />
Japan bank for International Cooperation (JbIC)<br />
multilateral Investment Guarantee Agency (mIGA)<br />
Nordic Investment bank (NIb)<br />
Overseas Private Investment Corporation (OPIC)<br />
Servizi Assicurativi del Commercio Estero (SACE)<br />
US Export-Import bank<br />
<strong>World</strong> bank (IbRD/IDA)<br />
Source: www.CoalSwarm.org<br />
* bulgaria, Czech Republic, Germany, Poland, Romania, Slovakia, Slovenia, Turkey and<br />
Ukraine.<br />
tries phase out coal mining subsidies by 2018, but until<br />
then, countries including Germany, Poland, Romania, and<br />
Spain continue to provide investment aids for coal mining.<br />
88 Poland also provides tax breaks that exempt all coal<br />
mining operations from paying for their water use.<br />
0 5,000 10,000 15,000<br />
20,000<br />
Source: heffa Schücking, Lydia Kroll, yann Louvel and Regine Richter, 2011. bankrolling Climate Change: A Look into the Portfolios of the <strong>World</strong>’s Largest banks, published by Profundo,<br />
urgewald, groundWork, Earthlife Africa Johannesburg and bankTrack.<br />
6,770<br />
6,323<br />
6,182<br />
5,637<br />
5,231<br />
5,110<br />
4,980<br />
4,742<br />
4,523<br />
4,432<br />
8,217<br />
9,495<br />
12,590<br />
12,117<br />
11,514<br />
11,477<br />
10,946<br />
10,694<br />
13,751<br />
16,540<br />
WORKING PAPER | November 2012 | 21
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