Singapore banks move to end Southeast Asia’s coal addiction
SINGAPORE — A push to end Southeast Asia’s addiction to fossil fuels is gathering pace after the region’s two biggest banks said they would stop funding coal-fired power plants. Singapore’s DBS Group Holdings said last month that it would cease financing new coal power projects from 2021 following the completion of existing projects in Indonesia and Vietnam, and […]
AC Energy eyes 2,000-MW RE projects in Asean region
AC Energy Inc. and The Blue Circle Pte. Ltd. (TBC) are committed to jointly build renewable-energy projects with around 2,000 megawatts of capacity across Southeast Asia, including 700 MW of RE projects in Vietnam. Both recently signed a shareholders’ agreement to jointly construct, own and operate the Mui Ne Wind Farm located at the Binh […]
ASEAN wants to go electric
The first image that usually springs to mind when someone mentions any Southeast Asian capital is congested roads filled with honking cars and motorcycles. Congested roads have become synonymous with Southeast Asia, and that is not going to change anytime soon. According to the latest data, vehicle sales in Southeast Asia is set to outpace […]
OCBC is Southeast Asia’s first bank to rule out funding new coal power plants
Singapore’s OCBC Bank is the first banking giant in Southeast Asia to rule out financing new coal-fired power plants. In an interview with Bloomberg on Wednesday, the bank’s chief executive Samuel Tsien said the company would no longer fund new coal-fired power plants in any country. “We hope that by doing this, we are encouraging […]
India-Asean officials meet, discuss connectivity
A two-day meeting of 21st Asean-India Senior Officials concluded here on Friday after they discussed ways to impart impetus to connectivity and deepen cooperation on financial matters. The meeting was co-chaired by Vijay Thakur Singh, Senior Officials’ Meeting Leader (SOM) and Secretary (East) in the External Affairs Ministry and Busaya Mathelin, SOM Leader and Permanent […]
US-ASEAN Business Council a trusted partner of Vietnam: official
Washington DC (VNA) – The US-ASEAN Business Council (USABC) will remain a reliable partner of Vietnam, affirmed USABC President and CEO Alexander C. Feldman at his working session with Minister-Chairman of the Vietnamese Government Office Mai Tien Dung in Washington DC on April 11 (local time). Feldman said he is interested in Vietnam’s role as […]
Attracting Private Financing for Green Projects Needs Concerted Efforts: HSBC
Jakarta. Sustainable finance, aka financial services that pay special attention to their environmental, social and good governance aspects, can reduce gaps in infrastructure financing—a constraint that has held back long-term growth in Southeast Asia, top executives at London-based lender HSBC said. In its Group Public Affairs Policy note distributed at the 23rd Asean Finance Ministers […]
Asean launches facility to mobilize US$1 billion for green infrastructure
Southeast Asian governments, the Asian Development Bank (ADB), and development financiers launched the Asean Catalytic Green Finance Facility, a new initiative to spur more than US$1 billion in green infrastructure investments across Southeast Asia. The launch ceremony was held in Chiang Mai, Thailand, on April 4 and was witnessed by Thailand’s Minister of Finance Apisak […]
