Pumped storage plants are not green investments
Publisher: CEE Bankwatch Network
Volume: 2 pages, pdf
Description:
In November 2008, the National Environmental Investment Agency of Ukraine decided to direct money from the International Greenhouse Gases (GHG) Emissions Trading into the construction of pumped storage plants (PSPs). The Agency is responsible for the implementation of the “Green Investment Scheme” – designed to manage the funds received in exchange for emission quotas. The scheme has to ensure that funds are spent on projects that cut GHG emissions. Yet PSPs totally contradict the idea, as they do not lead to the decrease of carbon emissions and will harm the environment.