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TOKYO (Reuters) - Sumitomo Mitsui Financial Group (SMFG) is likely to halt new financing for any coal-fired power plants, sources close to the matter said, reflecting increasing pressure on Japanese lenders to cut coal funding.
FILE PHOTO: A man walks past a sign board of Sumitomo Mitsui Banking Corporation, part of Sumitomo Mitsui Financial Group Inc (SMFG) outside its branch in Tokyo, Japan, January 27, 2017. REUTERS/Toru Hanai
While SMFG has said it would not finance new coal-fired power plants in principle, until now it has not ruled out funding projects considered to be more environmentally friendly, such as so-called ultra-supercritical (USC) power plants that burn coal more efficiently than older designs.
Japan s SMFG likely to halt all new lending to coal-powered plants, sources say
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