Singapore leads new finance system to speed ASEAN decarbonization

Transition credits to turn early coal plant closures into win-wins

20240917 ACEN

ACEN plans to close this coal plant in the Philippine province of Batangas 10 years early in 2030. (ACEN)

MAYUKO TANI, Nikkei staff writer

SINGAPORE -- Singapore is promoting a new type of finance that supports the early closure of coal-fired power plants in Southeast Asia, hoping to encourage decarbonization in neighboring countries while also developing the city-state's capital market.

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