The Straits Times
ADB rules out coal, sets conditions for gas projects in draft energy policy
Burning fossil fuels is the single largest source of emissions heating up the planet and driving wilder weather.PHOTO: ST FILE
https://str.sg/JtK8
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Oil Change International
Oil Change International & Fossil Free ADB
May 2021
Despite its stated commitment to climate action and a “prosperous, inclusive, resilient, and sustainable Asia and the Pacific,” the Asian Development Bank (ADB) has spent over $4.7 billion on gas since the adoption of the Paris Agreement. Plans to expand gas infrastructure in Asia pose one of the greatest threats to meeting the goals of the Paris Agreement and averting the most catastrophic impacts of the climate crisis.
The ADB is the second largest multilateral institution financing fossil fuels in Asia. The Bank’s gas finance accounts for over 96% of the Bank’s fossil fuel financing from 2016-20. Gas is not clean, cheap, or necessary. Continued investment in gas and other fossil fuels is impeding the rapid development of clean renewables to expand energy access and increase climate resiliency.
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.
SESP junior Christian Wade and Medill sophomore Adaeze Ogbonna won in a landslide election for Associated Student Government’s next student body president and vice president Saturday.
The slate won 80 percent of the votes, defeating Sahibzada Mayed and McKenna Troy in the second virtual election in ASG history, election commissioner Donovan Cusick confirmed. Mayed and running mate Troy won 16 percent of the votes and 4 percent voted no confidence.
This year also saw 1,353 total votes, down from 2,064 in 2020 and up from 852 in the uncontested 2019 election.
“We are truly so happy and grateful and will do our best to serve (the Northwestern community as) chosen leaders,” Wade and Ogbonna said in a statement to The Daily. “Our work is just getting started and we are so excited to see all the ways in which we can make NU a better campus wholly dedicated to the needs of its students.”