Mitsubishi pulls out coal project in Vietnam: sources

Mitsubishi has committed to reducing their investment in coal power to keep in line with international climate goals.- Reuters

TOKYO (Reuters): Mitsubishi Corp has decided to pull out of the Vinh Tan 3 power plant in Vietnam, two sources familiar with the company's thinking on the matter told Reuters, as it shifts away from carbon intensive businesses in the face of climate change.

Mitsubishi's move to exit the estimated $2 billion project shows how willing Japanese companies and financiers are to drop their once-strong support for coal amid pressure from shareholders and activists.