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ADB plans to retire coal-fired power plants in Indonesia, the Philippines

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Published Wed, Nov 3, 2021 · 09:50 PM

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    Jakarta

    The Asian Development Bank (ADB) plans to retire coal-fired power plants in Indonesia and the Philippines to reduce the biggest source of carbon emissions in the region, and help the 2 countries transition to clean energy.

    The Manila-based financial institution said it will fund this ambitious proposal, called the Energy Transition Mechanism (ETM), and form public-private partnerships to buy out the plants and shut them down within 15 years.

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    Asian Development BankAsean BusinessIndonesiaCoal

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