World Bank dumps Kosovo plant, ending support for coal worldwide

clock
The proposed plant would replace Kosovo A power station (pictured), which is 48 years old and frequently breaks down / CREDIT: Karl Mathiesen
Image:

The proposed plant would replace Kosovo A power station (pictured), which is 48 years old and frequently breaks down / CREDIT: Karl Mathiesen

The Kosova e Re lignite plant could not compete with renewables on price, said bank president Jim Yong Kim

The World Bank has abandoned the last coal project on its books, with its president publicly dumping the Kosova e Re plant on Wednesday. Speaking at a town hall event in Bali, Jim Yong Kim was asked...

To continue reading this article...

Join BusinessGreen

  • Enjoy exclusive news, insights and analysis from Europe’s leading source of information on the green economy and business.
  • Make smart, responsible business decisions with an eye on the latest regulatory and tech developments
  • Stay in the know with our overnight briefing, expertly curated help you run a competitive and sustainable business
  • Tap into our extensive archive of exclusive articles, news, analysis and guides
  • Choose from 3 paid membership levels or start a 7-day no strings trial

Join now

 

Already a BusinessGreen
member?

Login

More on Investment

Global investment into nature-based solutions should reach $536bn a year by 2050, according to a new UN report.

UN calls on G20 nations to close $165bn nature and climate investment gap

A new report finds that annual spending on nature-based solutions needs to increase by 140 per cent, with special attention paid to investment in non-G20 countries

clock 28 January 2022 • 3 min read
'An encouraging sign': New analysis reveals clean energy investment hit record $755bn last year

'An encouraging sign': New analysis reveals clean energy investment hit record $755bn last year

BloombergNEF reveals clean energy investment rose 27 per cent last year, but warns further rapid growth is needed to deliver on global climate goals

James Murray
clock 27 January 2022 • 4 min read
Oil and gas prices have more than doubled over the past year | Credit: iStock

Why rising oil prices risk setting 'stranded asset trap' for fossil fuel developers

Oil prices may have surged in recent months, but investing in new fossil fuel projects risks 'catastrophic levels of value destruction' when prices fall, new Carbon Tracker analysis warns

Michael Holder
clock 27 January 2022 • 7 min read