World Bank To Stop Financing Most Coal-Fired Plants

Law360, New York (July 17, 2013, 7:21 PM ET) -- Poor nations desperate for more energy traditionally look to the World Bank Group to finance new power plants, but if they want to use coal power, they'll now have to look elsewhere.

In a new policy adopted on Tuesday, the World Bank’s board agreed that it will only give out loans for coal power plants in the rarest of circumstances. The new norm, the bank said, will be loans for renewable energy sources that cost more but protect the environment.

World Bank VP of Sustainable Development...
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