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Hits: 117 LONDON/MELBOURNE Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia s coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which is being driven by the Asian Development Bank, offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters. The group plans to create public-private partnerships to buy out the plants and wind them down within 15 years, far sooner than their usual life, giving workers time to retire or find new jobs and allowing countries to shift to renewable energy sources. It aims to have a model ready for the COP26 climate conference which is being held in Glasgow, Scotland in November. ....
ADB, Citi, HSBC, Prudential hatch plan for Asian coal-fired closures -sources | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Exclusive: Citi, HSBC, Prudential hatch plan for Asian coal-fired closures - sources By Clara Denina and Melanie Burton Reuters LONDON/MELBOURNE (Reuters) - Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia s coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which includes the Asian Development Bank (ADB), offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters. The group plans to create public-private partnerships to buy out the plants and wind them down within 15 years, far sooner than their usual life, giving workers time to retire or find new jobs and allowing countries to shift to renewable energy sources. ....
Tuesday, 03 Aug 2021 08:15 AM MYT The group plans to create public-private partnerships to buy out the plants and wind them down within 15 years. AFP pic Follow us on Instagram and subscribe to our Telegram channel for the latest updates. MELBOURNE, Aug 3 ― Financial firms including British insurer Prudential, lenders Citi and HSBC and BlackRock Real Assets are devising plans to speed the closure of Asia’s coal-fired power plants in order to lower the biggest source of carbon emissions, five people with knowledge of the initiative said. The novel proposal, which includes the Asian Development Bank (ADB), offers a potentially workable model and early talks with Asian governments and multilateral banks are promising, the sources told Reuters. ....