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Standard Chartered becomes first Asia-centric bank to cease funding coal-fired power plants

by Futures Centre, Nov 27
1 minute read

Following international finance giants like Deutsche Bank and Societe Generale, Standard Charter has announced that it “…will not directly finance any new coal-fired power projects, including expansions, in any location.” Whereas other banks operating in the region continue to keep their finance policies open to important emerging markets like Indonesia and Vietnam, Standard Charter’s new policy rules out financing all coal-fired power projects.  This new commitment was revealed following Standard Charter’s withdrawal from a massive financing project in Vietnam earlier in 2018.

Coal-fire plant - Wikimedia

 

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