Building wind power, canceling coal — it’s all drowning under borrowing costs

CENTRAL BANKS’ EFFORTS TO TAME INFLATION HAVE MADE IT HARDER FOR BOTH WEALTHY AND POOR NATIONS TO SHIFT AWAY FROM FOSSIL FUELS.

DUBAI, United Arab Emirates — Plans to push South Africa and Indonesia off coal sputtered. So have offshore wind farms on the New Jersey and British coasts, and a green hydrogen project in an Italian port city.

Climate projects around the world are sinking because of high borrowing costs driven by interest rates — jeopardizing a major plank of the intern…