World Bank must aid countries to manage shift away from coal

world-bank coalThe World Bank and other global development lenders like the Asian Development Bank must help countries such as India to finance the shift of their coal production to more efficient technologies so they can meet their COP21 commitments, World Coal Association Chief Executive Benjamin Sporton said.

By not financing coal projects, the World Bank is actually pushing countries to use inefficient technologies leading to higher emissions, Mr. Sporton told The Hindu.

“The World Bank has taken a policy view that they don’t want to finance coal,” Mr. Sporton said in an interview. “But we have seen evidence from some countries where, because the World Bank does not invest in it and so does not invest in super critical and ultra super critical plants, these countries invested in sub-critical plants, which have much higher CO2 and particulate matter emissions.”

Super critical and ultra super critical (USC) plants (USC) substantially reduce carbon dioxide emissions and virtually eliminate particulate matter emissions, Mr. Sporton added, saying that India must invest in them despite their higher upfront cost.

“As we make new coal projects in India, we should ensure that the default technology should be super critical or USC,” he said. “The existing sub-critical projects need to be seen on a case-by-case basis on whether they should be upgraded or shut down and replaced.”

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