Planned new coal plants seen as threat to 26 ‘frontier countries’

JOHANNESBURG – Plans for new coal plants threaten to push 26 “frontier countries”, including South Africa, into a cycle of coal-dependency, according to the latest Global Coal Exit List (GCEL), released yesterday.More than 200 financial institutions are now registered users of the database and investors representing close to $10 trillion (R146.6trln) in assets are using one or more of the GCEL’s criteria to screen coal companies in their portfolios. The index is compiled by Germany’s non-profit Urgewald and 30 other non-government organisations. GCEL said 26 commercial banks had committed to…

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