1,200 megawatt Vietnam coal plant gets funding, but Standard Chartered pulls out over climate policy conflict

The London-headquartered bank withdrew from the US$1.87 billion coal-fired power plant’s financing consortium, but eight other banks, including Singapore’s OCBC and DBS and Malaysia’s Maybank, closed the deal.

eco-business_What will be one of Vietnam’s largest coal-fired power stations has secured enough funding to get built, but a key member of the financing syndicate has pulled out following a campaign that highlighted a major conflict with the bank’s climate policy.

Financing closed on the US$1.87 billion, 1,200 megawatt Nghi Son 2 coal-fired power plant last week. But London-headquartered Standard Chartered Bank—which was initially part of a consortium of nine banks that includes Singapore’s Oversea-Chinese Banking Corporation (OCBC) and DBS, Malaysia’s Maybank and Japan Bank for International Cooperation—was absent from the final list of financiers.

A campaign by green groups Greenpeace and Market Forces pointed out that by financing the coal plant, StanChart was in breach of its own policy on energy and climate change. That policy rules out providing loans for coal plants above a certain emissions intensity.

The coal financing deal also goes against the Equator Principles, a framework for banks to assess the environmental and social risk of the infrastructure projects they finance, that StanChart signed in 2003.

Vietnam is well-placed for clean energy investment, but Singapore’s major banks continue to miss opportunities to fund a clean energy development pathway, instead locking in polluting coal for decades to come.

Julien Vincent, executive director, Market Forces

Continue reading “1,200 megawatt Vietnam coal plant gets funding, but Standard Chartered pulls out over climate policy conflict”

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EU – Vietnam: launching the first Viet – Mong bilingual supplementary materials for ethnic minority children in Lai Chau

aide-et-action – Lai Chau, December 9th, 2016 – Aide et Action Vietnam and its partner CISDOMA, has launched an initiative on the supplementary materials in Mong and Vietnamese languages for preschool and primary school (5 years old – 8 years old) in Tam Duong district, Lai Chau province. The Mother-Tongue Bilingual Based Education (MTBBE) approach uses Mong as the bilingual language of instruction, along with Vietnamese.

The materials cover 5 topics: gender equality, life skills, disaster preparedness, child rights, local culture and customs which will be mainstreamed into the daily classes at school. The development of the supplementary bilingual material is one of the key activities of the project “Promoting inclusive and relevant early childhood care and education for ethnic minority and disadvantaged children in Vietnam,” funded by the European Union, aiming at helping ethnic minority children overcomes the language barrier and enabling them to read and write in their mother tongue to preserve their culture first, and then transfer these skills to learning Vietnamese.

Cuộc vượt biên của những đứa trẻ bỏ trường

VNE – Thứ ba, 21/11/2017 | 00:00 GMT+7

Không nhìn thấy tương lai trong những trang sách, nhiều học sinh vùng cao đi thẳng từ lớp học đến biên giới. Chúng trở thành những lao động bất hợp pháp.

Bữa cơm đầu tiên ở bên kia biên giới của Sùng Mí Tú là cái bánh bao nhân thịt với chai nước trắng.

Tú 15 tuổi, nhỏ nhất trong nhóm người Mông xã Sà Phìn vượt biên sang Trung Quốc làm thuê. Mỗi ngày, em nhận được 80 nhân dân tệ cho công đào 160 hố trồng cây bạch đàn.

Tú không biết mình đang ở vùng nào của Trung Quốc, địa hình xung quanh ra sao. 10 người trú ở cái lán nằm sâu trong rừng. Ban đêm, họ rủ nhau đi ngủ sớm. Không ai dám đi quá khu lán một cây số vì sợ lạc đường, hoặc công an biên phòng Trung Quốc truy quét. Bị bắt rồi thì trả về nước, tiền công cũng mất hết.