Energy transition funding makes sense, especially in developing markets, investors say

When the Asian Development Bank (ADB) announced last week that it was funding the early shutdown of a coal-fired power plant in Indonesia, some among the climate-conscious might have been forgiven for wondering why the plant’s operator, with its prominent carbon footprint, was seemingly being rewarded. The Cirebon-1 plant in West Java went online 10 years ago, and has a life cycle that could potentially see it continue to generate carbon emissions until the early 2060s. Under the …