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Climate Change

Top lenders set finance guidelines for ASEAN's green transition

MUFG Bank, others to ensure projects match national decarbonization strategies

Excavators pile coal in a storage area at the Suralaya power plant in Indonesia. Renewable sources alone might be unable to meet surging demand for energy in Southeast Asia.   © Reuters

TOKYO -- MUFG Bank and other Asian lenders will focus on how projects designed to reduce carbon emissions in Southeast Asia fit into national decarbonization strategies when making financing decisions, according to guidelines released Monday.

Other banks involved in crafting the guidelines include Sumitomo Mitsui Banking Corp., Mizuho Bank, Citibank and Southeast Asian lenders Bank Mandiri and Maybank. The document was presented at a meeting hosted by Japan's Ministry of Economy, Trade and Industry.

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