The Asian Development Bank (ADB), which serves more than half the world’s population, has decided it will no longer finance coal for electric generation and heating plants and instead will aid poor countries in the rapid phase-out of existing coal plants. So for Old King Coal, it’s good-bye to Asia. The bank’s new policy document says coal has no future if developing countries are to avoid the worst effects of climate change. It aims to phase out all coal plants in Asia by the middle of the century.
Climate News Network 14th May 2021 read more »