Biggest Polluters Need a Rulebook to Unlock Cash for Change
- Transition finance may help firms cut reliance on fossil fuels
- Growth is impeded by lack of clear market standards: Barclays
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A new type of financing that allows borrowers to shift toward less dependence on fossil fuels has been hampered by a lack of clear labeling and definitions.
Expansion of transition finance that specifies the use of proceeds “has been impeded by a lack of clear market standards on what constitutes a transition asset,” said Atul Jhavar, head of sustainable capital markets for the Asia-Pacific region at Barclays Bank Plc.