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Indonesia’s sustainable finance taxonomy is Asia’s “strictest” for classifying new coal plants as green: study

Southeast Asia’s largest economy classifies new and existing coal-fired power plants as “green” or deems them eligible for transition funding, according to a report released on Wednesday.

Coal-fired power plants selected for early retirement through multilateral fossil fuel phase-out mechanisms, such as the Justice Energy Transition Partnership (JETP), are classified as “green” based on the traffic light system used by Indonesia’s sustainable finance taxonomy” or classified as “green.” Meanwhile, coal-fired power plants that supply local power to industrial plants that will be operational in 2030 are classified as “amber,” Indonesia’s coding for transition activities in its taxonomy.

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