MANILA, Philippines — Philippine banks are urged to phase out financing for coal projects in the country.
Clean energy group Center for Energy, Ecology, and Development (CEED) said 13 local banks were identified by the Global Coal Exit List (GCEL) to be responsible for lending or underwriting $6.3 billion to coal developers from 2017 to the third quarter of 2019.
The Global Coal Exit List (GCEL), published by Urgewald, Banktrack and non-government organization (NGO) partners, is a collection of data on companies and institutions behind coal development.
