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TueOct18

POLAND - BANKS FUNDING THE DIRTIEST FORM OF COAL

13 page citation : „ However, just across the border from Germany, Polish state-owned and private companies are pushing on with plans to develop a string of new open-pit lignite mines – with major financial support from some well-known banks.
Since its entry into the EU in 2004, Poland has garnered – and even seemed keen to cultivate – a reputation for being the continent’s number one climate wrecker.24 Yet even so, the latest plans of two companies, Polska Grupa Energetyczne (PGE) and Zespół Elektrowni Patnów-Adamów-Konin (ZE PAK), take the breath away. Adding to the nine mines currently in operation, PGE and ZE PAK are now embarking on securing concessions for eight or nine further mine installations with potential reserves of nearly 8.5 billion tons of lignite, an amount greater than has ever been extracted and burned in Poland’s history.

 

F O S S I L F U E L F I N A N C E R E P ORT C A R D 2 0 1 6 (pdf)

 

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