Japan to tighten state lending for overseas coal power stations
2020-07-09 13:36:20 [Print]
Japan will cut state-backed financing and other support for overseas coal-fired power plants by tightening the lending criteria for projects after facing criticism over its policy on the dirtiest fossil fuel.
The move implies that Japan's strong official backing for coal is starting to shift, although some non-governmental organizations are skeptical whether the announcement will amount to a significant change at all.
Japan's government has received criticism from many quarters over the support, usually through the country's export credit agency, for building coal-fired plants in countries such as Indonesia and Vietnam, as well as the roll-out of new plants at home.
The new policy will have exemptions, including backing for so-called integrated gasification combined cycle power stations that emit about 15% less carbon dioxide than regular plants.
The country will also continue to fund stations that use a combination of biomass and coal, along with projects that include plans for developing renewable energy.
The move implies that Japan's strong official backing for coal is starting to shift, although some non-governmental organizations are skeptical whether the announcement will amount to a significant change at all.
Japan's government has received criticism from many quarters over the support, usually through the country's export credit agency, for building coal-fired plants in countries such as Indonesia and Vietnam, as well as the roll-out of new plants at home.
The new policy will have exemptions, including backing for so-called integrated gasification combined cycle power stations that emit about 15% less carbon dioxide than regular plants.
The country will also continue to fund stations that use a combination of biomass and coal, along with projects that include plans for developing renewable energy.
