After spinning off its thermal coal assets, Adaro Energy Group, the world’s sixth-largest coal mining company, will have access to financing from two banks that previously withdrew funding for its aluminum smelter project in February 2023.
As Indonesia forges ahead with plans to become an advanced economy, an honest reckoning needs to occur, to ensure that it does not squander its vast environmental resources for short-term gain.
A handful of fashion brands – H&M, Ralph Lauren, Decathlon and Adidas – are working to stop using coal to power their factories in 2025, while others are prioritising decarbonisation at lower levels of ambition.