OCBC says coal plants it is financing in Vietnam will be its last

SINGAPORE (Apr 22): Oversea-Chinese Banking Corp, Southeast Asia’s second-largest lender, says two Vietnamese coal-fired power plants it finances will be its last as it increases funding for renewable projects.

“We won’t do any new coal-fired power generation plants in any countries, except for the power projects that we are already in or have committed to,” CEO Samuel Tsien said in an interview at its Singapore headquarters on April 15.

“We hope that by doing this, we are encouraging the governments to do facilitating, arrangements for the countries to move from coal to renewable.”

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