Banks bet big on coal in Indonesia, bucking global shift away from fossil fuel

Mongabay
May 12, 2022, 9:10 am237 pts
JAKARTA — A surge in coal prices is driving a wave of bank loans to miners in Indonesia, the world’s fifth-largest coal producer and top exporter. By continuing to finance the fossil fuel industry, banks like Citigroup, BNP Paribas and Standard Chartered are making it harder for Indonesia to transition to…

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