Some excellent news for the environment arrived via the USA and Vietnam last week. The US Export Import Bank (the official bank of the US which is used to fund a range of projects around the world) decided not to back a new coal power plant in Vietnam. The huge decision is linked not only to pure environmental concerns but also the impacts a recent speech from Obama has had on the US financial sector. Whilst the bank has funded the development of coal power stations in the past this decision is touted to be an important precedent, putting environmental concerns before economic ones. At The Vital Few we are hoping that this is the first of many such proactive decisions.
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