{"id":939,"date":"2018-02-07T00:00:00","date_gmt":"2018-02-06T16:00:00","guid":{"rendered":"https:\/\/master.k8s.p4.greenpeace.org\/southeastasia\/press\/939\/international-coalition-calls-on-singapore-banks-to-end-coal-finance\/"},"modified":"2024-05-28T13:36:29","modified_gmt":"2024-05-28T06:36:29","slug":"international-coalition-calls-on-singapore-banks-to-end-coal-finance","status":"publish","type":"post","link":"https:\/\/www.greenpeace.org\/southeastasia\/press\/939\/international-coalition-calls-on-singapore-banks-to-end-coal-finance\/","title":{"rendered":"International coalition calls on Singapore banks to end coal finance"},"content":{"rendered":"
Jakarta- A broad coalition of leading environmental groups are today calling on Singapore\u2019s major banks to end the financing of highly polluting coal-fired power stations in Southeast Asia.<\/div>\n
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The groups include Greenpeace, Walhi, Friends of the Earth, Change (Vietnam), Market Forces, BankTrack and GreenID.<\/p>\n

On 26 January, DBS quietly released a new climate policy which completely fails to rule out any of the\u00a0\u2018Unlucky 7\u2019 coal-fired power stations<\/a>\u00a0it plans to finance in Indonesia and Vietnam.<\/p>\n

The seven proposed coal power plants would generate 1.5 billion tonnes of CO2<\/sub>\u00a0over their lifetime, equivalent to 30 years of Singapore\u2019s annual emissions.<\/p>\n

For more detail about DBS\u2019 new policy and the \u201cunlucky 7\u201d coal power plants that it would still be able to finance,\u00a0click here<\/a>.<\/p>\n

Hong Hoang, Executive Director, CHANGE Vietnam said:<\/strong><\/p>\n

\u201cDBS seems to think Europeans deserve clean air and power, while people in Vietnam in Indonesia get pollution and out-dated fossil fuel technology. These double-standards are an insult to those of us who want the chance to develop cleanly and bypass the dirty energy blunders of the Western world.\u201d<\/em><\/p>\n

Vietnam has some of the greatest potential on the planet for renewable energy. This is our future, not old polluting power rejected by the rest of the world.\u201d<\/em><\/p>\n

Hindun Mulaika, Climate and Energy Campaign Team Leader, Greenpeace Southeast Asia \u2013 Indonesia said:<\/strong><\/p>\n

\u201cDBS has funded some of the dirtiest and most controversial power deals in Indonesia, such as Paiton 3 and the Central Java Power (Batang) station, and is looking to do more dirty deals in the future.\u201d\u00a0<\/em><\/p>\n

These are a disaster for the climate, for pollution and for DBS\u2019 reputation. For DBS to live up to its rhetoric as a bank committed to the healthy future of our region, it needs to end coal finance and support us by investing in clean energy.\u201d<\/em><\/p>\n

Julien Vincent, Executive Director of Market Forces said:<\/strong><\/p>\n

\u201cDBS\u2019 coal finance plants risk making a complete mockery of the Singaporean Government\u2019s recently announced 2018 as\u00a0the \u2018Year of Climate Action.\u2019<\/em><\/p>\n

The fact that DBS is preparing to finance a major new polluting coal fired power plant in Vietnam, the Nghi Son 2 coal power station, just weeks after releasing this policy, shows how ineffectual it is.\u201d
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Open Letter Download:<\/strong><\/p>\n

Open letter calling on DBS, OCBC and UOB to take action on climate change<\/a><\/strong><\/p>\n

Media Contact:<\/strong><\/p>\n