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Banks Propose Guidelines for Funding ‘Orderly’ Energy Transition

Sept. 26, 2022, 8:47 AM

Banks including Barclays Plc and Citigroup Inc. are proposing new guidelines for lenders who want to fund projects that can reduce emissions without jumping straight to net-zero.

The Asia Transition Finance Study Group, which also includes 17 other banks mostly based in Asia, said it focused its proposed framework on activities that “support a just and orderly transition” by lowering rather than eliminating emissions. The group, which was formed last year, published the guidelines on the website of the Asia Green Growth Partnership Ministerial Meeting ahead of a meeting on Monday.

The guidelines were developed with a focus on ...