Germany’s KfW follows others’ lead to end support for coal
The German government decided earlier this year to adopt strict sustainable strategies in its financial dealings
02 July 2019 - 17:21
Berlin/Frankfurt — Germany’s KfW Group is pulling out of loans for new coal projects, joining other European development banks that have already followed orders of their governments to minimise exposure to the world’s most widely used power-station fuel.
KfW will no longer finance the exploration or mining of coal or lend to coal power plant projects, the lender said on Monday as it updated its investment code from four years ago. The firm hasn’t made any new investments in coal projects since then and holds less than €2bn in outstanding loans in the fuel...
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