nofutureenglish_11-f625a5f53d6cd1f4.pdf

A December 2019 briefing by Global Energy Monitor detailing the financial risks associated with Japanese public finance institutions' continued support for coal power projects in South and Southeast Asia amidst falling renewable energy costs.

• Falling costs for renewables are making coal-fired power projects in South and Southeast Asia economically unviable. Modeling suggests that by 2028, constructing new onshore wind and solar PV will be more cost-effective than operating existing power plants. Consequently, the average coal plant in Southeast Asia is expected to be retired at 15 years of age, and plants entering the fleet in 2024 may operate for less than five years.
• There is a significant decline in private sector support for coal, with Citi reporting an 80% drop in coal financing between 2010 and 2018, and insurers such as Nippon Life, RBS, and Standard Chartered withdrawing completely.
• Despite market trends, Japanese public finance institutions—specifically NEXI, JICA, and JBIC—have invested over US$18 billion in overseas coal projects since 2013. Currently, $4.8 billion in pending financing for projects in three South or Southeast Asian countries is at risk of becoming stranded assets. Of this pending amount, 88% (US$4.2 billion) is for power plants, while US$574 million is for the Java-Sumatra Interconnection Project (II) transmission line.
• Specific high-risk projects include the Van Phong 1 plant in Vietnam, for which JBIC approved US$650 million and NEXI may provide several billion in insurance, and the Cirebon Coal Plant Phase 3, where US$1.5 billion in lending is stalled due to Indonesian government reconsideration.

APA

Global Energy Monitor (n.d.). nofutureenglish_11-f625a5f53d6cd1f4.pdf. https://globalenergymonitor.org/sites/default/files/migration/reports/NoFutureEnglish_11.pdf

Chicago

Global Energy Monitor. nofutureenglish_11-f625a5f53d6cd1f4.pdf. n.d. https://globalenergymonitor.org/sites/default/files/migration/reports/NoFutureEnglish_11.pdf.

Wikipedia

{{cite report |author=Global Energy Monitor |title=nofutureenglish_11-f625a5f53d6cd1f4.pdf |url=https://globalenergymonitor.org/sites/default/files/migration/reports/NoFutureEnglish_11.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{globalenergymonitorndnofutureenglish11f625a5f53d6cd1f4pdf, author = {{Global Energy Monitor}}, title = {{nofutureenglish\_11-f625a5f53d6cd1f4.pdf}}, institution = {Global Energy Monitor}, url = {https://globalenergymonitor.org/sites/default/files/migration/reports/NoFutureEnglish_11.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }