Environment & Energy Report

Bank Says Coal Plants It’s Financing in Vietnam Will Be Its Last

April 16, 2019, 1:41 PM

Oversea-Chinese Banking Corp., Southeast Asia’s second-largest lender, said two Vietnamese coal-fired power plants will be the last it finances as it increases funding for renewable projects.

“We won’t do any new coal-fired power generation plants in any countries, except for the power projects that we are already in, or we have committed to,” Chief Executive Officer Samuel Tsien said in an April 15 interview at its Singapore headquarters “We hope that by doing this, we are encouraging the governments to do facilitating, arrangements for the countries to move from coal to renewable.”

Samuel Tsien on April 15.
Photographer: Wei Leng Tay/Bloomberg

At least 100 major lenders have put...

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