U.S. no longer financing coal power plants

The Obama administration is now putting an end to the use of U.S. funds for the construction of new coal plants around the world, according to New York Times according to the Energy Watch.

It has been decided that they will no longer contribute to new coal projects under the auspices of the World Bank or other international development banks.

Earlier this year, Obama presented a climate plan that calls for a large-scale expansion of renewable energy and a tough approach against particularly coal-fired power plants.

The U.S. ban on support to new coal-fired power plants is not the first of its kind. In July, the state-owned Export-Import Bank stopped plans to support a 1,200 MW coal-fired power plant in Vietnam. This came after pressure from environmental organizations.

Source: The Danish District Heating Association