Tag: Asian Development Bank

The demonstrations called out the ADB for continuing to finance gas projects despite its commitment to support low-carbon transition

Among multilateral development banks, ADB stands out as one of the biggest lenders to the region's fossil fuel-dominated energy sector

Activists and civil society groups said ADB's proposed mechanism undermines “just energy transition” in the region

The groups warned the bank that it will be missing the critical 1.5 Celsius climate goal should it approve the "fossil fuel-friendly draft"

ADB and other key financial institutions earlier expressed intention to pursue a scheme to buy out coal power plants

Greenpeace says ADB's draft police "falls short and completely misses the mark in responding to this decade’s realities"

ADB has allegedly “opted to help build now thriving carbon-intensive energy systems" that cause global temperature rise

Developing Asia, which groups 45 countries in the Asia-Pacific, is forecast to grow 7.3% in 2021, the ADB said

An independent evaluation by the bank has revealed that it failed to align with climate imperatives in its funding decisions

An independent study recommended that the bank revisit its energy policy and formally withdraw from financing new coal-fired energy capacity