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November 28, 2022

Malaysian bank pioneers coal exit in Asean

While others in the region have made noises about phasing out coal, one bank has put its money where its mouth is despite the difficulties.

As negotiators at COP27 failed to agree on a global coal phase-out, Kuala Lumpur-based CIMB Group pressed ahead with its plans to exiting coal, after first announcing such commitment in 2020 saying it was the first lender in Malaysia and Southeast Asia to do so.

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