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Policy & Regulation

Coal facing financing crunch in Southeast Asia

Major financiers are beginning to think twice about financing coal-fired power projects in the region, with governments looking to gas and renewables instead Major financiers are beginning to think twice about financing coal-fired power projects in the region, with governments looking to gas and renewables instead.
By Damon Evans 3 days ago Asia Pacific / Policy & Regulation 0 34300
Protesters unveil a banner calling for a halt to construction of a coal-fired power plant in Central Java. (PA)

The key issue: Regional banks in Asia are shunning new coal-fired power projects in Southeast Asia, prompting governments to design cleaner power development plans.

Interfax analysis: Gas-fired and renewable power projects are set to benefit after the Overseas Chinese Banking Corp. (OCBC) and DBS Group Holdings – Singapore’s two most significant lenders – announced plans in mid-April to stop financing new coal-fired power plants – making them the first banks in Southeast Asia to do so. 

OCBC and DBS join an expanding list of financiers around the...