Mitsubishi pulls out of Vinh Tan 3 coal project in Vietnam, sources say

TOKYO, Feb 27 (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 US$2-billion project shows how willing Japanese companies and financiers are to drop once-strong support for coal, under pressure from shareholders and activists.