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New analysis shows ADB has spent $4.7 billion financing gas - Oil Change International

Oil Change International
PRESS RELEASE
Coalition calls on Bank to stop fueling the climate crisis and go fossil free
As the Asian Development Bank meets today for its 54th Annual Meeting to discuss collaboration for a resilient and green recovery, new analysis shows that the Bank has spent $4.7 billion financing gas projects in the region. This undermines its stated commitments on climate and efforts to achieve a “prosperous, inclusive, resilient, and sustainable Asia and the Pacific.”
For the first time in a decade, the ADB is revising its energy policy. ADB management has conceded that its energy policy “is no longer adequately aligned with the global consensus on climate change, ongoing global transformation of the energy sector, and operational priorities of ADB’s new Strategy 2030.” Further, there is growing momentum in the European Union, UK and US to end public financing for fossil fuel infrastructure at home and abroad. ....

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Multilateral Development Banks have financed at least $3 billion in fossil fuels during COVID-19 recovery

Multilateral Development Banks have financed at least $3 billion in fossil fuels during COVID-19 recovery
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