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No support for coal project
April 11 , 2023
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- The International Finance Corporation (IFC) has issued an update to its Green Equity Approach (GEA) policy.
- It will no longer allow financial intermediary clients to support new coal projects.
- IFC is the World Bank’s private sector arm.
- Previously, the GEA only required clients to reduce their exposure by half by 2025, and to zero by 2030, but did not prevent new investments.
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