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BankTrack and Urgewald to publish data on the financing of new coal power development

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World Coal,

On 5 December during the 2018 UN Climate Summit in Katowice, BankTrack and Urgewald will publish new data exposing which banks and investors are financing the world’s top 120 coal plant developers.

The NGOs' research covers the period between January 2016 and September 2018 and shows that global financial institutions are undermining the Paris Climate Goals by still supporting the expansion of the world's coal plant fleet with almost US$480 billion.

While 2017 was another record-busting year for renewables, coal power is still growing in many parts of the world. Currently, 1380 new coal plants or units are planned or under development in 59 countries. If built, these plants would add over 672 000 MW to the global coal plant fleet – an increase of 33%. At a press conference during COP24, Urgewald and BankTrack will release the names of the financial institutions, which are bankrolling this frightening assault on the Paris Climate Goals.

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