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.
Railway coal depot with limestone karst background. Viet Nam, Quảng Ninh, Cẩm Phả. Image: garcycles8, CC BY-NC-ND 2.0
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.