Singapore banks move to end Southeast Asia’s coal addiction

DBS and OCBC plan to quit coal power financing

Coal is still the cheapest power source for most Southeast Asian nations, with power generation by coal expected to double by 2030. (Getty Images)

SINGAPORE — A push to end Southeast Asia’s addiction to fossil fuels is gathering pace after the region’s two biggest banks said they would stop funding coal-fired power plants.

Singapore’s DBS Group Holdings said last month that it would cease financing new coal power projects from 2021 following the completion of existing projects in Indonesia and Vietnam, and will instead tilt toward renewable energy projects such as solar power. Oversea-Chinese Banking Corp. announced that it would also quit coal.

The move is “a major game-changer for energy finance in the ASEAN region,” said Julien Vincent, executive director at Australia-based environment advocacy group Market Forces.

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Renewable Energy Doesn’t Get More In Subsidies Than Fossil & Nuclear Energy Have Gotten and Continue To Get


January 26th, 2018 by 

This article is part of our “CleanTechnica Answer Box” collection. For some reason, there are certain anti-cleantech talking points that get thrown around over and over that are absolute bunk. We got tired of dealing with the same myths repeatedly and also saw others who spent time responding to these untruths in many discussions on CleanTechnica and elsewhere could use some help more efficiently and effectively doing so, so at the suggestion of a reader we created this resource in the same vein as Skeptical Science’s responses to global warming & climate change myths.

Myth: renewable energy gets subsidies whereas fossil fuels and nuclear energy don’t. Tiếp tục đọc “Renewable Energy Doesn’t Get More In Subsidies Than Fossil & Nuclear Energy Have Gotten and Continue To Get”

Vietnam: Fossil fuel subsidies need to be phased out

Jun 18, 2014

imageUNDP VN – Ha Noi, 18 June 2014 – “Fossil fuel subsidies should be phased out and a price set on carbon,” the UN Development Programme (UNDP) in Viet Nam has recommended in a discussion paper launched today.

The paper, “Green Growth and Fossil Fuel Fiscal Policies in Viet Nam – Recommendations for a Roadmap for Policy Reform” argues that despite the Government’s commitment towards green growth and restructuring the energy sector including price reform, there are still substantial indirect subsidies on fossil fuels in the country.

According to the paper, Viet Nam’s energy prices are low compared to other countries in the region. Although there have been significant price increases, average retail prices remained the same during 2008-2013, and are in fact lower than the previous five-year period, when measured against 2002 prices taking into account inflation. Tiếp tục đọc “Vietnam: Fossil fuel subsidies need to be phased out”