World Bank’s private sector arm to stop supporting new coal
The International Finance Corporation (IFC), the private sector arm of the World Bank, is to stop supporting new coal projects, a move described by campaigners as welcome but long overdue.
IFC to stop funding new coal-powered electricity projects
The IFC has reportedly lent close to $5 billion to almost 88 financial institutions in India
Are we parting ways with coal or digging in deeper?
The expenditure budgeted for the year 2023-24 is 192 crores which is 50% less than the budget of the previous years. At the face of it, it would seem that India is phasing out...
India’s Biggest Ever Coal Mine Auction will Aggravate Climate Crisis; Is Against India’s Climate Pledges
The central government opening the biggest new coal mine auction, announced in November 2022, is a mockery of the Prime Minister’s own climate announcements at climate change summits, and an invitation to worsening the...
National Financial Institutions lent 7.12 lakh crores to TPPs between 2005-2022: Study
The report finds 65% accrues to NBFCs, 31% came from public sector banks, and 4% from private banks
The Coal Trail
India’s installed capacity for power generation has also seen a tremendous rise, standing at 405.77 GW. What is also readily observable is the dominant share of coal in the installed capacity equalling 204 GW,...
Coal crisis is back! What is the real story behind the repeating crisis?
India is heading to another spell of power shortage and the union government is pushing the states to import coal.
Fishing Community That Took on World Bank Group Immunity Continues Quest for Justice
Landmark corporate accountability case resulted in critical reforms for the World Bank’s lending arm. Today, the U.S. Supreme Court denied a petition from a fishing community in India whose livelihoods have been destroyed by...
Case Against IFC at US Supreme Court: Disappointed with the outcome; Quest for Justice Continues
Landmark corporate accountability case resulted in critical reforms for the World Bank’s lending arm. April 26, 2022 New Delhi: Last evening India time, the U.S. Supreme Court denied a petition from a fishing community...
Indian lenders reduce funding for coal projects, clean energy gets more loans for 3rd straight year
Clean energy projects got 74% of the total funds from financial institutions last year, or ₹24380 crore, according to a report by Climate Trends and Centre for Financial Accountability. Indian lenders channeled more funds to...
PFC, subsidiary REC sole institutions provided finances to coal projects: Report
New Delhi, Dec 14 (IANS): An analysis on Tuesday identified Power Finance Corporation (PFC), and its subsidiary Rural Electrification Corporation (REC), as the sole state-owned financial institutions that provided project financing to coal power...
Coal Vs. Renewable | Financial Analysis
At COP26, India announced its objectives to reach net zero by 2070. In addition, the country aims to install 500 GW of non-fossil capacity by 2030, 450 GW of which would come from renewable...
Whither Coal?
The Ministry of Coal (MoC), through a notification on June 18, 2020, officially launched the process of auctioning coal mines, thus opening up the Indian coal mining sector to commercial operations by the private...
When comprehensive means cosmetic
India’s pollution metrics fail to capture the complex reality of environmental degradation. The city is fine, really. Right outside the railway station, beneath the board that says Asansol Junction, an LED panel displays the...
Symposium on India’s Engagements and Experiences with Accountability Mechanisms of MDBs: A Report
This year, the Inspection Panel, the accountability mechanism of the World Bank, is completing 25 years. The World Bank’s failure to comply with its operating policies was seen by the entire world in the...
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