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A new financing tool that allows Asian governments to force coal plants into early retirement is set to launch its first project in Indonesia "soon" following months of negotiations, the Asia Development Bank's climate envoy said on Friday.
A tool to speed up Asian coal plant retirement by up to a decade will soon go live, according to the Asian Development Bank (ADB).
ADB's senior climate advisor Warren Evans said negotiations on the Cirebon One project in Indonesia were now on schedule, and talks were also underway to launch similar projects in the Philippines and Vietnam.