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Coal companies find it harder to raise funds
Banks want concrete plans to move away from fossil fuel before parting with money
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Coal power and mining companies in the region are finding it harder to raise finance over climate change concerns, and are being increasingly pushed by banks to lay out concrete transition plans to shift away from dirty energy.
Recently, Standard Chartered bank announced it was ending its relationship with Indonesian coal miner PT Adaro Energy. DBS told The Straits Times that it is also reducing its exposure to the company.
