In the News: Coal Industry Dying as World Bank and JHU Pull Back

train cars of coal

  If you didn't know, and you live in Kentucky, West Virginia or other coal-oriented states, major investors in coal are now backing out of their investments, leaving the U.S. coal industry reeling.   
  During the week of Dec. 11, 2017 the World Bank and Johns Hopkins University, Baltimore are both dropping coal in the next couple of years.  Voters in the U.S. Coal Country thought that if they voted for Donald Trump who promised to resurrect their jobs, but the reality is that it isn't happening. The Coal Miners and U.S. Coal Industry were duped, and should have taken the job retraining offered by the candidate they didn't elect.

JOHNS HOPKINS UNIVERSITY STOPPING COAL INVESTMENTS

Johns Hopkins University will stop buying stocks and bonds of companies that produce coal for electric as a major part of their business.  The Johns Hopkins University, Baltimore, plans to stop investing in thermal coal because of concerns over the environmental and public health effects of climate change.Johns Hopkins’ board of trustees voted Friday to direct the university to stop buying stocks and bonds of companies that focus on producing coal for electric power.
  The university in Baltimore says it's only the third time in Johns Hopkins' history that the board has barred a particular type of investment because of broad social concerns. In the 1980s, Johns Hopkins divested from companies that did business in the then-apartheid state of South Africa. In 1991, the board ended all direct investment in tobacco company stocks and bonds.
PRESS RELEASE: https://www.usnews.com/news/best-states/maryland/articles/2017-12-12/johns-hopkins-university-backing-off-of-coal



WORLD BANK PULLING AWAY FROM COAL
Paris, 12 December, 2017 - At the One Planet Summit convened by President Emmanuel Macron of France, United Nations Secretary General Antonio Guterres, and World Bank Group President Jim Yong Kim, the World Bank Group made a number of new announcements in line with its ongoing support to developing countries for the effective implementation of the Paris Agreement’s goals.

Getting Away from Coal
Canada and the World Bank will work together to accelerate the energy transition in developing countries and, together with the International Trade Union Confederation, will provide analysis to support efforts towards a just transition away from coal.

Oil and gas
As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in recognition of a rapidly changing world.  To align its support to countries to meet their Paris goals: The World Bank Group will no longer finance upstream oil and gas, after 2019.

DOCUMENT:  http://www.worldbank.org/en/news/press-release/2017/12/12/world-bank-group-announcements-at-one-planet-summit?CID=ECR_TT_worldbank_EN_EXT_OnePlanet