12 March 2020 Adani is asking investors to back the Abbot Point coal export terminal for the next seven years through a new bond. With take-or-pay contract protection now largely expired, whoever invests is placing a massive bet about the Carmichael coal project going ahead, but some key aspects of … Read More
Banks could accidentally fund Carmichael coal via Adani bond issue
8 July 2019 In early July 2019 Adani issued US$1billion in bonds for one part of its business (Adani Ports and Special Economic Zone), which nine major banks invested in. This company operates several ports in India. Unfortunately, the evidence shows that the Adani group of companies has regularly funded … Read More
Japan-funded coal power project would cause 1,900 premature deaths in Vietnam
Right now, there are several Japanese-financed coal-fired power stations in the pipeline in Vietnam and across Asia — Van Phong 1 is a prime example of how dirty and polluting these projects can get. What does this highly-polluting technology mean for locals living in areas around the plant? The Greenpeace … Read More
DBS gambles on coal, as scrutiny arrives at its AGM
25 April 2019 At the annual general meeting of DBS today, the Singaporean bank was challenged over its plans to excuse several proposed projects from its policy to stop funding new coal power. Last Thursday DBS released what, in all fairness, was a pretty good policy on coal power plants. … Read More
Media release: JBIC and commercial banks shamelessly agree to finance Van Phong 1, despite multiple unresolved issues
19 April 2019 The decision by the Japan Bank for International Cooperation (JBIC) and a consortium of commercial banks to finance the proposed Van Phong 1 coal-fired power station in Vietnam has been branded as shameless and cowardly by clean energy advocates. JBIC announced on its website that financing had … Read More
Media release: OCBC and DBS coal policies a game changer for Asian energy finance
18 April 2019 Responding to the news that OCBC and DBS have, within two days of each other, signalled an end point to financing new coal power stations, Market Forces Executive Director Julien Vincent said: “This week was a major game-changer for energy finance in the ASEAN region. The commitments … Read More
OCBC bank ends new coal power lending, except for two projects in Vietnam
17 April 2018 OCBC’s chief executive officer Samuel Tsien said in an interview earlier this week that OCBC will not fund any more new coal – but will remain in two projects in Vietnam. Subscription news sources suggest these projects are Van Phong 1 and Vung Ang 2. “OCBC’s decision … Read More
WIN! Standard Chartered rules out new coal…. everywhere!
25 September 2018 Standard Chartered bank today updated its policy on lending to power generation, ruling out new coal power plants anywhere in the world. It confirmed the bank would no longer directly finance “any new coal-fired power plant projects, including expansions, in any location”. This marks a massive shift … Read More
Media release: Singaporean banks blowing smoke on climate
A new analysis from environmental finance group Market Forces shines a light for the first time on Singaporean banks’ continued funding of the coal industry, despite public pronouncements on climate action. Market Forces analysed data relating to the lending activity of Singapore’s big three banks, Oversea-Chinese Banking Corporation (OCBC), DBS … Read More