Maybank’s new coal policy: not even the bare minimum

Reclaim Finance assesses Maybank's May 2021 announcement of its first coal sector financing exclusions, concluding that the policy is too limited because it focuses on new coal mining rather than new coal plants and lacks a phase-out commitment. The analysis notes that Maybank provided at least US$1.7 billion to the coal sector between 2018 and 2020 and currently supports companies planning 13.2 GW of additional coal capacity. The author urges Maybank to end all support for coal expansion and exit the sector by 2040.

• Maybank's initial coal policy is considered extremely limited as it commits to "no financing of new coal activities" and specifically "any new coal mining activity," but appears to exclude new coal plants from its restrictions and focuses only on project financing rather than general corporate financing.
• Between October 2018 and October 2020, Maybank provided at least US$1.7 billion to the coal sector via loans and underwriting for six large coal companies that operate 30.7 GW of coal power.
• Maybank's policy is less ambitious than those of regional competitors CIMB and DBS, both of which have ended direct financing for new coal plants.
• The document identifies a critical gap in Maybank's policy: the lack of a coal phase-out commitment, recommending the bank exit the coal sector by 2040.

APA

admin (2021). Maybank’s new coal policy: not even the bare minimum. Reclaim Finance. https://reclaimfinance.org/site/en/2021/05/10/maybanks-new-coal-policy-not-even-the-bare-minimum/

Chicago

admin. Maybank’s new coal policy: not even the bare minimum. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/05/10/maybanks-new-coal-policy-not-even-the-bare-minimum/.

Wikipedia

{{cite press release |last1=admin |title=Maybank’s new coal policy: not even the bare minimum |publisher=Reclaim Finance |date=10 May 2021 |url=https://reclaimfinance.org/site/en/2021/05/10/maybanks-new-coal-policy-not-even-the-bare-minimum/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021maybanks, author = {admin}, title = {{Maybank’s new coal policy: not even the bare minimum}}, publisher = {Reclaim Finance}, year = {2021}, month = may, url = {https://reclaimfinance.org/site/en/2021/05/10/maybanks-new-coal-policy-not-even-the-bare-minimum/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }