Coal-Fired Power Plants (CFPPs) Research Paper Example | Topics and Well Written Essays - 2500 words

Coal-Fired occasion Plants (CFPPs) - Research Paper ExampleBecause of its dedication to squeeze the global climate change, BNP Paribas created its coal-fired power generation policies last September 20113. Being the 4th European confide that has issued CSR policy on projects related to coal-fired power plant4, BNP Paribas policy objectives is to integrate climate change issue in coal-fired power generation sector by taking into account greenhouse gas (GHG) emissions and avoid investment funds in companies with low environment and social standards5. BNP Paribas set a minimum efficiency standard of 43% in high-income countries and 38% in low-income countries for its generic greenfield CFPP projects and a maximum emission requirements of not more than 550 carbonic acid gas/kWh in high-income countries and 660 CO2/kWh in low-income countries for other greenfield CFPP projects6, 7. For brownfield CFPP projects, BNP Paribas require the applicants to comply with IFC Environmental, Health and Safety Guidelines for Thermal Power Plants to meet the required level of emission and/or at least 10% increase or improvements from the required level8. CFPPs projects that were not in compliance with BNP Paribas policy on coal-fired generating projects were purposely turned down (i.e. projects in Turkey and Vietnam in 2011 and India in 2012)9. As of 2011, BNP Paribas avoided additional 70 MteqCO2 each year10. 2.2 Credit Agricole Credit Agricole corporate & Investment Bank is Europes 4th biggest shore and the worlds 5th biggest bank which aims to serve clients investment banking needs11. Credit Agricoles policy on CFPP projects are ground on the guidelines set by the clime Principles initiative, Environment Health and Safety Guidelines, IFC Performance Standards, International qualification Agency (IEA), Intergovernmental Panel on Climate Change (IPCC), Kyoto protocol, United Nations Framework Convention on Climate Change (UNFCCC), and the World Coal Association12. Before granting a financial support to CFPP projects, Credit Agricole will examine a set of its ESG criteria which includes the plant location, quality of coal utilized in generating electricity, compliance with national and transnational regulatory frameworks, technology used in generating electricity, limit in the emission of pollutants, etc.13, 14. 2.3 Citibank Citibank is a US-based banking corporation. For the past cc years, Citibank managed to establish a strong connection in more than 1,000 cities and 160 countries around the world15. Back in 2003, Citibank implemented its Environmental and Social Risk Management (ESRM) Policy16. Unlike the other banks and financial institutions, Citibank has been recognized as one of the biggest financiers of CFPP projects worldwide17. Since 2008, Citibank was able to finance almost 150 CFPP projects in US alone18. Even though Citibank plans to share its shares in the Indonesian coal producer of Adaro Energy, Citibank is very much decided not to remove or cut down its active participation in the financing process of new CFPP projects19. 2.4 Societe Generale Societe Generale is a cut multi-national banking and financial institution that is currently operating for more than 149 years in history20. As part of its environmental sector policy, Societe Generale created its E&S laws and regulations which require all clients to comply with their requirements.