While global trends shift away from coal amid a push to green financing, the coal sector remains one of the most profitable forms of lending in Indonesia. In light of this, opponents of “dirty” energy are urging Indonesian banks to stop funding coal-fired power plants to prevent further damage to the environment.
According to the 2025 Southeast Asia Fossil Fuel Divestment Scorecard by Philippine think tank Center for Energy, Ecology, and Development (CEED), Indonesian banks still finance 12% of coal projects in Southeast Asia. Although the global trend is shifting toward renewable energy, coal project financing in Southeast Asia over the past eight years has reached $32.48 billion (approximately IDR 535.92 trillion), with Indonesia as the largest recipient.
