Asia's Coal Developers Feeling Left Out By Cold Shoulder From Banks

Developers of coal mines and coal-fired power plants in Asia are facing difficulties growing their businesses as global financial institutions refuse to back their projects to avoid criticism over climate change. 

“European banks have said they don’t want to finance coal projects for a while, Japanese followed and now Singapore. About 85% of the market now don’t want to finance coal power plants,” said Dharma Djojonegoro, Deputy CEO of Indonesia’s PT Adaro Power.

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