香港地球之友綠色金融顧問 / Green Finance Advisor of Friends of the Earth (HK)
While more banks and financial institutions are trying to cut their ties to the coal industry, the industry’s participants are trying to get green financing for clean coal technologies. Clean coal technologies are a collection of technologies targeting to cut down the carbon emissions and other pollutants generated in burning coal for power generation. However, considering the processing of coal mining, the logistics in transporting coal and the “cleaning” process in coal-fired power generation, we see clean coal technology is more like a myth than a solution.
First of all, coal has to be mined out of the ground. This can hardly be a green exercise considering the damage to the environment, not to mention the issues in transporting coal to power plants. The major problem indeed is that most of the commercialized clean-coal technologies available at present are not efficient in reducing carbon and other pollutants. Some existing clean coal projects are in fact proved to be emitting more but not less pollutants. In a nutshell, clean coal technologies are generally not perceived as a viable green solution for power generation. Using green capital to finance clean coal technologies is not encouraged.