15 Apr '11, 6pm

US Ex-Im Bank Finances Largest Carbon Emitting Project in its History

The Board of Directors of the U.S. Export-Import Bank (Ex-Im Bank) on Thursday voted to approve $805 million in subsidized financing for one of the world's largest coal-fired power plants - the 4,800 megawatts (MW) Kusile project, in South Africa. South African and international civil society organizations and U.S. medical experts strongly oppose Ex-Im Bank financing of Kusile as a heavily polluting project that will harm the health and well-being of South Africans. The project reflects an increasing trend at the agency to focus U.S. exports on fossil fuels at the expense of renewable energy alternatives. The area where Kusile would be built already exceeds permitted ambient levels of hazardous air pollutants that create soot & smog. These and other pollutants that result from coal combustion can cause harm to respiratory, cardiovascular, and nervous systems, leading to he...

Full article: http://www.sustainablebusiness.com/index.cfm/go/news.disp...

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