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JPMorgan to avoid financing coal projects

2016-03-07 16:39:00| Climate Ark Climate Change & Global Warming Newsfeed

Agence France-Presse: Wall Street banking giant JPMorgan Chase said Monday that it would avoid financing new coal projects in advanced economies due to their contribution to global warming. The bank's official Environmental and Social Policy Framework drew a line against supporting new or "greenfield" coal mines in high income countries, or new coal-fired power plants. The Framework also said it will cut back credit support to coal mining companies over the medium term and only back new coal plants in lower-income countries...

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