KfW finances climate-damaging coal-burning power plant

On Friday, protest actions against the KfW’s controversial policy towards coal-burning power plants took place in front of KfW offices in Frankfurt, South Africa and Serbia. The klima-allianz Germany mainly criticized a project in Greece, where KfW is planning to support the realization of Ptolemaida-V by issuing a credit. In addition to the danger such a power-plant would pose to health and climate, the profitability of the plant is doubtful. In Serbia, the KfW is accused of supporting the expansion of surface mining and the overall reliance on brown coal. In South Africa, KfW is accused of aggravating energy inequality and the struggle for water. The Climate Alliance calls on the KfW to exclude investment in coal-fired power plants due to environmental, health and climatic reasons.
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