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International Finance Corporation Stops Funding New Coal Projects

The International Finance Corporation (IFC) is the biggest development institution globally, focused on the private sector in developing nations. This institution recently announced its plans to stop supporting new coal projects under its updated Green Equity Approach Policy. Prior to this, the policy required its clients to decrease their exposure to zero by 2030.

Financial intermediaries make up over one-half of the institution’s investments and have been…

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