Summary
The report highlights a significant gap in financial sector policies where coking coal, which accounts for approximately 14% of global coal production, is often excluded from coal phase-out restrictions. Despite the steel sector contributing 7% of global greenhouse gas emissions and 11% of CO2 emissions, financial institutions continue to fund coking coal projects due to the outdated belief that no alternative technologies exist. The document notes that since 2016, banks have provided over 557 billion USD to companies involved in coking coal projects. It calls for an immediate end to financial services for new coking coal projects and the adoption of strict policies requiring companies to provide detailed closure schedules and just transition plans.
Key insights
- Financial institutions have provided more than 557 billion USD to companies developing coking coal projects since 2016, as most banks lack specific policies against coking coal.
- Technological advances, such as green hydrogen, indicate that coking coal could be phased out by the early 2040s, and the IEA suggests existing facilities can meet demand through 2050 under the Net Zero Emissions (NZE) scenario.
Cite the original document
- APA
- Reclaim Finance (n.d.). 原料炭への融資、いま中止すべき. https://reclaimfinance.org/site/wp-content/uploads/2023/11/Reclaim_Finance_Executive-Summary_Met-coal-Report-_November-2023_JPN.pdf
- Chicago
- Reclaim Finance. 原料炭への融資、いま中止すべき. n.d. https://reclaimfinance.org/site/wp-content/uploads/2023/11/Reclaim_Finance_Executive-Summary_Met-coal-Report-_November-2023_JPN.pdf.
- Wikipedia
- {{cite report |author=Reclaim Finance |title=原料炭への融資、いま中止すべき |url=https://reclaimfinance.org/site/wp-content/uploads/2023/11/Reclaim_Finance_Executive-Summary_Met-coal-Report-_November-2023_JPN.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}
- BibTeX
- @techreport{reclaimfinancend, author = {{Reclaim Finance}}, title = {{原料炭への融資、いま中止すべき}}, institution = {Reclaim Finance}, url = {https://reclaimfinance.org/site/wp-content/uploads/2023/11/Reclaim_Finance_Executive-Summary_Met-coal-Report-_November-2023_JPN.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }
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