Experts see growing stranded asset threat for China’s continued coal plant financing

first_img FacebookTwitterLinkedInEmailPrint分享South China Morning Post:China risks being left behind as South Korea and Japan signal a shift away from financing overseas coal power in response to growing criticism over their support for the dirty fossil fuel.The three countries are the top global lenders for coal energy infrastructure, bankrolling projects beyond their borders through export credit agencies and developing new markets to export coal plant technology. But there are signs that Japan and South Korea may be preparing to scale back official support amid mounting pressure from the public and investors on environmental grounds.Japan announced last month that it would tighten funding criteria for foreign coal-fired power plants, and next month South Korean lawmakers will debate several bills aimed at banning overseas coal investment as part of a post-coronavirus “Green New Deal”.“This is profoundly serious, because it is an acceleration of a trend that is already established in global financial markets,” said Melissa Brown, the director of energy finance studies, Asia, at the Institute for Energy Economics and Financial Analysis. “It has a very strong economic foundation, which is that – based on virtually all of the coherent and credible evidence we have today – coal-fired power facilities that are brought into service in the next five years are extremely unlikely to have a productive, profitable economic life.”China has an outsize impact on development financing for coal. From 2000-2019, its two global policy banks – the China Development Bank and the Export-Import Bank of China – issued loans totaling US$51.8 billion for coal energy projects around the world, according to the Global Development Policy Centre at Boston University.In comparison, Japan spent US$26 billion financing 36 overseas coal-fired power plants between January 2003 and April 2019, the Japan Centre for a Sustainable Environment and Society estimated. South Korean public financial institutions, meanwhile, supported 24 overseas coal projects with US$10 billion from 2008 to 2018, according to Solutions for Our Climate (SFOC), a Seoul-based non-profit organisation.[Harry Pearl]More: China slow to curb coal financing as Japan, South Korea ‘accept new reality’ on phasing out fossil fuels Experts see growing stranded asset threat for China’s continued coal plant financinglast_img read more

Making financial literacy fun

first_imgWhat important lessons will you teach your children this summer? Riding a bike? Sharing with others? How about teaching them important financial skills. Financial literacy may not immediately come to mind when many parents think of essential skills for students but what children know about money at a young age can shape the way they manage money in adulthood. As children develop, they are strongly influenced by what they learn in their formative years, and studies have shown the same holds true for financial matters. In fact, a 2015 study by the Financial Industry Regulatory Authority (FINRA) found that credit scores among young adults improved in states with mandatory financial education. However, not all states implement financial education, and when it comes to financial literacy, American education falls short. A 2012 study by the Program for International Student Assessment (PISA) found that American students performed below the world average on a simple financial literacy assessment. Additionally, over 7,000 American youths earned a grade average of just 60% on a 2014 financial literacy test administered by the National Financial Educator’s Council. Yet with students today graduating with an average student debt of $48,172 having strong financial skills is equally important as the degree they earn. continue reading »center_img 18SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Hernandez closing in on record-breaking LA Galaxy transfer

first_img Promoted ContentBirds Enjoy Living In A Gallery Space Created For ThemWho Earns More Than Ronaldo?10 Dystopian Movie Worlds You’d Never Want To Live InWhat Is A Black Hole And Is It Dangerous For Us All?Who Is The Most Powerful Woman On Earth?10 Risky Jobs Some Women Do8 Things To Expect If An Asteroid Hits Our Planet7 Ways To Understand Your Girlfriend BetterWhich Country Is The Most Romantic In The World?11 Most Immersive Game To Play On Your Table Top8 Best 1980s High Tech Gadgets8 Ways Drones Will Automate Our Future LA Galaxy have revealed they are “serious” about signing former Manchester United striker Javier Hernandez. Loading… Following his £6.5million move from West Ham in the summer, the striker has scored just three goals for them, including one in LaLiga and two in the UEFA Europa League. The signing of Hernandez could, however, offer Galaxy the Ibrahimovic replacement they have been looking for. The Swedish center-forward scored 52 goals in 56 games for the US team but left at the end of last season to try his hand again in Europe. Hernandez won the Premier League twice with United and is Mexico’s all-time leading scorer with 52 goals. While he will face a hard task replicating Ibrahimovic’s incredible goalscoring record, he will arguably be the biggest ticket seller in Major League Soccer. Read Also:Zlatan exit: Javier Hernandez ‘considers LA Galaxy switch’ Playing for the likes of Manchester United, Real Madrid and Bayer Leverkusen, scoring 156 goals in his club career and making 109 appearances for Mexico, Hernandez would bring top-flight experience to the LA Galaxy. FacebookTwitterWhatsAppEmail分享 Club manager Dennis te Kloese is looking for a replacement for Zlatan Ibrahimovic after he headed back to AC Milan. He told Spanish outlet MARCA that the Sevilla forward could be the man. Kloese said: “We are going to try seriously to sign him, it would be a good deal for us.” Having previously mentioned his desire to play in the MLS, the 5ft 7in Mexican is said to be in “advanced negotiations” after meeting with a representative of Galaxy on Monday to discuss an offer over the potential move. Sevilla are said to want £8million for Hernandez, which would force the MLS side to smash the club record £5million they paid Villareal for Giovani dos Santos in 2015. Despite being said to have a good relationship with manager Lopetegui, Hernandez has been struggling for games at Sevilla, having made just 14 appearances in all competitions.last_img read more