A new study by civic society groups accuses the Asian Development Bank of indirectly financing coal power plants in Indonesia as the multilateral holds its annual general meeting in Tbilisi, Georgia. ADB insists the loan does not violate its energy policy.
There is a disconnect between brands' pursuit of decarbonisation targets and the provision of financing to their suppliers. Companies such as H&M are now working with banks in the region on new loan structures to support factory upgrades. Will that make a difference?
The Singapore lender, which has cut a third of its coal exposure since 2021, said that its pledge to cease financing new coal assets remains unchanged. It is still undecided on how to account for this emerging emissions category.