The Unfriend Coal campaign and Market Forces have urged insurance brokers Aon and Marsh to retract their advisory roles in a proposed US$2.6 billion Vietnamese coal-fired power plant.
The Van Phong 1 project is set to be built in Van Phong Bay, in Khanh Hoa Province (South Central Vietnam) in 2023, with a generating capacity of 1320 MW.
According to the letter, a report from Greenpeace’s Global Air Pollution Unit found a significant inconsistency in the air pollutant emission data reported in the Environmental and Social Impact Assessment (ESIA) for the project – yielding sulfur dioxide and nitrogen oxide emissions approximately 80% higher than the rates originally suggested in the 2017 ESIA, and dust emissions close to 150% higher.
Reviews of the ESIA also indicate that local residents affected by the plant were not consulted, and allegations of forcible relocation have been circulating. One lender, the Japan Bank for International Cooperation (JBIC), admitted that it had not obtained a resettlement action plan.
The bituminous coal-burning plant is sponsored by the Japanese conglomerate Sumitomo Corporation, and JBIC approved a US$1.2 billion loan for the project in April 2019. According to the Global Coalition for Effective Logistics, Sumitomo is planning 2320 MW of new coal capacity in Vietnam and Indonesia at the group level.
Read the article online at: https://www.worldcoal.com/power/14082019/unfriend-coal-and-market-forces-urge-aon-and-marsh-not-to-endorse-vietnamese-coal-plant/
You might also like
Simon Nicholas overviews a new report by IEEFA India and JMK Research and Analytics, which demonstrates why Australian metallurgical coal miners should not get overexcited by the outlook for exports to the subcontinent.