In The Business Times (16 June 2026), Professor Johan Sulaeman, Director of the Sustainable and Green Finance Institute at NUS, underscores how banks can better manage indirect exposure to coal in sectors producing transition-critical minerals. Coal-powered industrial operations face rising decarbonisation pressures, from trade measures to shifting buyer expectations. Rather than blanket exclusions, a more calibrated approach is needed: credible transition pathways, declining emissions-intensity thresholds, and enhanced disclosure. This highlights a core tension in sustainable finance, supporting essential low-carbon materials while avoiding carbon lock-in.
