Browsing: Climate change finance

The new anti-coal policy that Equity has implemented comes at a time when the nation is getting ready to begin mining the commodity after significant quantities were discovered in Kitui County’s Mui Basin.

“Through with this equity investment, Equity Group undertakes to refrain from providing any financing for coal-related endeavours, including the construction or expansion of coal-fired power stations and coal mines., and transportation assets used exclusively for coal,” IFC and Equity said in a joint statement. “This equity investment” refers to the equity investment made by Equity Group.

Any utility firm that derives more than 20 per cent of its energy or revenues from coal by producing 10 million tonnes or more of coal or has an installed coal-fired capacity of 5,000 megawatts or more will not be eligible for financing from this bank. One of the most important companies that rely on coal as a source of manufacturing fuel is Bamburi Cement.