African Development Bank commits to coal-free financing

NAIROBI — The African Development Bank will no longer finance coal projects, bank president Akinwumi Adesina announced this week at the U.N. Climate Action Summit. It was the first public announcement by the bank committing to end financial support for coal.

“Coal is the past, renewable energy is the future,” Adesina told the audience. “For us at the African Development Bank, we are getting out of coal.”