A Future Without Coal: Banking on Asia's Just Energy Transition

11 November 2021

Fair Finance Asia’s latest study reveals continued growth in Asia’s coal sector even after the signing of the Paris Agreement in 2015 due to financing by banks and investors operating in the region.

In the past five years (2016–2020) since the signing of the Paris Agreement, financial institutions operating in key Asian countries identified in Fair Finance Asia’s latest study have provided USD 683 billion in loans and underwriting services to companies active in coal mining and coal-fired power operations in the region. The biggest investors in the coal sector, based on the study, are Japan’s Government Pension Investment Fund, India’s Life Insurance Corporation, US asset managers BlackRock and Vanguard, and Malaysian investors Khazanah Nasional, PNB and EPF.

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