The Business Times
business-time-50
HOCK LOCK SIEW
·
SUBSCRIBERS

A simpler solution is needed in tracking financed emissions from early coal retirement

google-preferred-sourceAdd BT as a preferred source
Janice Lim

Janice Lim

Published Thu, Mar 14, 2024 · 05:00 AM
    • Smoke and steam billow from the coal-fired power plant owned by Indonesia Power, in Suralaya, Banten province.
    • Smoke and steam billow from the coal-fired power plant owned by Indonesia Power, in Suralaya, Banten province. PHOTO: REUTERS

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    SUSTAINABLE finance in South-east Asia looks set to be entering its next phase as major banks shift their stance slightly on how they plan to phase out coal financing.

    HSBC, Standard Chartered and Bank of America are looking to be part of a deal that brings forward the closure of the Cirebon-1 coal-fired power plant, which would be Indonesia’s first early coal retirement deal if it goes through.

    Singapore’s largest lender DBS also recently announced that it is currently working on such a deal after tweaking its coal financing policy to accommodate the early retirement of coal-fired power plants.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Hock Lock SiewBanksCoalenergy transitionTransition financeESG

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    Air India has been one of the foreign carriers most affected by the outbreak of hostilities in the Middle East.

    Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Malaysia Madani, or Civil Malaysia, is Prime Minister Anwar Ibrahim's slogan encapsulating positive values (such as humanity and strong governance) that would shape policy direction. But the "corporate mafia" claims have now cast the spotlight on governance credibility.

    From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?

    Malaysia ranks 23rd globally on the Milken Institute’s global opportunity index.

    South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More