IDC under scrutiny for funding Limpopo coal project
A case study has criticised the use of public funds for a colliery it concludes will worsen SA’s contribution to global warming
The Centre for Environmental Rights (CER) has taken aim at the Industrial Development Corporation’s (IDC’s) funding of a Limpopo coal project which it says is an example of how public finance is used to support fossil fuel projects that can negatively affect the social fabric, environment and the climate.
The activist law firm last week published a report examining the development financier’s decision to finance MC Mining’s flagship Makhado Colliery Project, which is poised to be SA’s only hard coking coal mine, and posed critical questions about the role of public finance in advancing sustainable development in a meaningful way. ..