Prudential in talks to buy out and shut coal-fired plants in Asia

Prudential in talks to buy out and shut coal-fired plants in Asia

Scheme with Asian Development Bank could help make big progress on climate goals, says insurer

The British insurer Prudential is working with the Asian Development Bank on a scheme to buy out coal-fired power plants in Asia in order to shut them down within 15 years.

Its backers say the plan is designed to limit use of the polluting fossil fuel while allowing workers time to find new jobs and incentivising countries to invest in clean energy alternatives.

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