Under the Rug: How G7 Nations Conceal Public Financing for Coal Around the World | WWF

Under the Rug: How G7 Nations Conceal Public Financing for Coal Around the World

Posted on 24 May 2016
Coal finance by G7 countries
© WWF, NRDC, OCI
In a blatant contradiction of their public declarations to limit dangerous carbon pollution and other greenhouse gases, Japan and Germany are quietly financing the global development of coal-fired power plants and coal mining, this report reveals.

Japan ranks as the worst offender among the G7 nations for supporting more than $22 billion in overseas coal plants and development from 2007-2015, and for plans to add another $10 billion in future coal projects. The other G7 nations also financed coal development: Germany, $9 billion; the United States, about $5 billion; France, $2.5 billion; Italy, $2 billion; United Kingdom, $1 billion; and Canada, less than $1 billion. 

Emissions from coal-fired power plants financed by the G7 countries from 2007 to 2015 total 100 million metric tons of carbon pollution per year, adding a carbon burden to the atmosphere that damages the world’s climate and public health, according to the report. It calls for an immediate end to all international public financing for coal plants.

The report was published by WWF, the Natural Resources Defense Council and Oil Change International as the G7 countries prepare to attend their 42nd summit on 26-27 May 2016 in Japan.