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Greenpeace fingers four UK banks for £25bn coal support

News out this week that four major UK banks continue to prop up coal, is hardly a surprise given that major policy reforms have been pushed at these banks for the past 4 or 5 years with little effect. HSBC in particular adopted a posture to no longer fund coal plants in 2018, but added the exceptions of Bangladesh, Vietnam, and Indonesia. In total Greenpeace has simply located £25 billion of loans to build coal plants placed from 2016 to 2019. The truth is that coal plants aren’t “bankable” a label usually used to deny renewable energy projects from funding when they cannot prove their payback. Coal clearly cannot prove a payback beyond 2050 and these banks lose will lose…

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