🇮🇩 NEW | REPORT - #Indonesia’s operational & planned #captivecoal now triples 2023’s capacity, eclipses Australia’s current total coal fleet, and ties with Germany’s entire operating fleet
w/ @globalenergymon.bsky.social
Report now available ⤵️
Green background, white text: "What MIGA should do? Include restrictions on fossil gas and captive coal as conditions for the guarantee. Ensure that none of the capital relief proceeds from the guarantee are used to fund any fossil fuels." Photo of an oil well on right hand side.
We call on MIGA to review the project and include restrictions on #FossilGas, #CaptiveCoal, or any fossil fuels.
🌤️ In line with its commitments, World Bank guarantees should support a just, renewable energy transition, not corporate interests driving climate chaos.
#JustTransitionRising
"NOT PARIS-ALIGNED" in white letters. Green background. White boxes with black text: "Support for fossil fuels. The proposed guarantee will support trade finance and corporate loans of Standard Chartered Bank (SCB) subsidiaries in Pakistan, Ghana and Zambia. Through capital relief, it will also free up funds for SCB to expand its lending. Given the bank’s track record, the risk of these funds being used for more fossil gas, captive coal, or other fossil fuels is high." "No clear path to transition. The project provides no clear plan to help these countries meet their renewable energy and climate goals, or to address sovereign debt distress without deepening fossil fuel reliance. Without firm restrictions on fossil gas or a phase-out commitment from SCB, the guarantee risks locking countries into fossil dependency, undermining a just and sustainable transition."
🚨This new project is not aligned with the Paris Agreement, despite MIGA's claims.
These guarantees would enable Standard Chartered to continue operating in fossil-intensive sectors and free up funds to expand #FossilGas or #CaptiveCoal lending, without addressing debt or local energy access.
Teal background with white text saying "World Bank Group & ADB must make good on commitments to end coal finance". Photo underneath showing a young woman in the Philippines protesting against coal. She wears glasses, a covid-19 facemask, and hold a cardboard sign handwritten with "coal pollutes our environment".
Our recommendations for the World Bank Group and ADB:
🛑 write #coal exclusion into Board-approved energy strategies and policies
🏭 clear language to stop funding for #CaptiveCoal
❌ end indirect financing via commercial banks
🧰 apply coal exclusions to all financing instruments and modalities
World map showing the banks that provide corporate-level finance to JSW Utkal steel power plant and captive coal unit, and where the bank is based.
🇮🇳 In Odisha, India, commercial banks are gearing up to support a new steel plant powered by 'captive #coal'.
Many multilateral development banks have still not ruled out funding for #CaptiveCoal, despite its clear climate impacts.
p34🔖 bankingonclimatechaos.org/banking-on-climate-chaos-2025-report
