ADB promises to halt coal financing : vimarsana.com

ADB promises to halt coal financing


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Philippine Daily Inquirer
The Asian Development Bank (ADB) is mulling over helping wean developing countries from coal while also supporting gas-fired power generation as an insurance against the intermittent supply from renewables like solar and wind.
The multilateral lender is currently updating its energy policy, which is scheduled for submission to the board of directors in the fourth quarter this year.
Environmentalist groups have been pressuring the ADB to stop funding coal projects, while groups like the Institute for Climate and Sustainable Cities and the Center for Energy, Ecology and Development feel the bank's latest stance is half-baked.
ADB's current energy policy was adopted in 2009.

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