Good news came from Chile in February 2018, when President Michelle Bachelet declared a coal phase-out. In a joint statement, Chile’s electricity companies pledged to deliver the country’s goal to generate 70% of power from renewable sources by 2050. However, the construction of the 375 MW plant Mejillones by France’s Engie is still being finalised, disrespecting the national decision to transition to renewable energy. Since Barclays is an investor in Engie, it is supporting these practices.
Find out more in our Coal Report page 48: