Southeast Asian Banks and Coal Financing
Southeast Asian banks must close loopholes allowing finance for industrial coal power to ensure a sustainable future.
The region's biggest banks have made public commitments to sustainability and phasing out coal financing, the most polluting fossil fuel.
Southeast Asia’s biggest banks have made public commitments to sustainability and phasing out financing for coal.
Despite these pledges, there is a gap between their public commitments and lending practices, as they continue to finance coal power through loopholes in their policies.
- Deadly heatwaves
- Severe storms
- Catastrophic floods
Their clients' entire production and value chain must be subject to coal policies to achieve true sustainability.
Author's summary: Southeast Asian banks must end loopholes in coal financing.