In the Kuznetsk Basin, a Siberian coal-mining area known as Russia's "black heart," breathing can sometimes be difficult due to pollution. Even Canada responded to the villagers' plea for help but will Russia respond to the environmental crisis?
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LONDON (Reuters) - HSBC and Barclays, which have pledged to stop financing new coal projects, have been challenged by a legal group over a Japanese bond it says will contribute to the financing of coal-fired power in Vietnam.
FILE PHOTO: HSBC logo is seen on a branch bank in the financial district in New York, U.S., August 7, 2019. REUTERS/Brendan McDermid/File Photo
Both banks have come under pressure from investors keen to see them do more to help the world shift to a low-carbon economy and HSBC faces a shareholder vote over its fossil fuel financing at its annual meeting in April.
Portugal's largest utility EDP announced plans to invest an unprecedented 24 billion euros ($29 billion) over five years mostly in renewable power and grids in the United States and Europe as it seeks to accelerate by 20 years its push to go "completely green".
Mitsubishi Corp has decided to pull out of the Vinh Tan 3 power plant in Vietnam, two sources familiar with the company's thinking on the matter told Reuters, as it shifts away from carbon intensive businesses in the face of climate change.
Analysts say the renewables boom is killing coal, prompting community groups to call on the Victorian government to start planning for Yallourn's shutdown now.