Friday, 15 October 2021 10:48 GMT

Finance companies to shut coal factories in Asia

(MENAFN) The BBC was informed that some of the world's main fiscal institutions are planning to hasten the shutting of coal-fired power plants in Asia.

The proposal was initiated by UK insurer Prudential, is being driven by the Asian Development Bank (ADB), and comprises main banks HSBC and Citi.

The ADB anticipates that the plan will be ready for the COP26 climate meeting which is being held in Scotland in November.

The proposal plans to deal with the major human-made source of carbon releases.

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