30 Oct '13, 4pm

Obama moves to block new coal plants abroad

Obama moves to block new coal plants abroad

The U.S. is set to virtually stamp out construction of new coal-fired power plants domestically, thanks to proposed climate regulations . And now it’s setting its sights internationally. The Obama administration said Tuesday it plans to use its influence with international lending bodies like the World Bank to curtail financial support for new coal power plants overseas. From Reuters : The U.S. Treasury said it would only support funding for coal plants in the world’s poorest countries if they have no other efficient or economical alternative for their energy needs. For richer countries, it would only support coal plants that deploy carbon capture and sequestration, an advanced technology for reducing emissions that is not yet commercially viable. That essentially means the United States would limit coal funding to only the world’s poorest for now. The announcement follows...

Full article: http://grist.org/news/obama-moves-to-block-new-coal-plant...

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