News / #natural gas
ANZ, Commonwealth Bank, NAB, and Westpac loaned US$2.43 billion to finance fossil fuel projects last year, despite having committed to global climate goals. Most of the loans fall under general-purpose corporate lending and bonds, which are harder to track than direct project loans.
The new decree is seen as the latter of two policy moves needed to jumpstart the country’s clean energy market. New funding is already flowing, but concerns remain as to whether Vietnam’s power grid can handle more renewables.
A new whitepaper funded by the Asia-focused lender proposes retrofitting existing coal assets with viable clean technologies and retaining their transmission infrastructure to improve the bankability of the region’s early phase-out deals.
Energy
Singapore’s draft power market rules seen signalling tighter state control over energy transition
Adopting renewables and electricity imports adds to security concerns posed by global gas market volatility. Investors’ cold shoulder towards fossil energy could also threaten the longevity of Singapore’s gas plants, analysts say.
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Carbon & Climate
COP28 climate dispute: what are 'unabated' fossil fuels?
6 November 2023
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