By Rajiv Shah A new report released by a top Netherlands-based advocacy group, BankTrack , has said that of the nine major Asian banks which “are open for business in coal, dirtiest of fossil fuel” three are from India: State Bank of India, Axis Bank and Bank of Baroda. Other major Asian banks in the business of coal are Mizuho, SMBC and MUFG in Japan, and Bank Mandiri, Rakyat and Negara in Indonesia. Titled “Coal Havens: The policy loopholes keeping coal finance alive in Asia”, the report underlines, Asia today is the ‘ growth engine ’ of the global coal industry despite the world agreeing to transition away from fossil fuels at COP28 in December 2023. To prove its point, the report cites the International Energy Agency (IEA), which say , global coal demand reached a record high in 2022 amidst the global energy crisis, rising by 4% year-on-year to 8.42 billion tonnes (Bt). According to IEA, “The growth engine for coal demand, which...