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Banks backing Mekong hydropower failing on due diligence, report reveals
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Banks keep funding and profiting from fossil fuel
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Banks keep funding and profiting from fossil fuel
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PHNOM PENH, Cambodia and MANILA, Philippines, Jan. 26, 2023 /PRNewswire/ Fair Finance Asia (FFA) and NGO Forum on ADB (the Forum) have released a new report, "The Asian Development Bank's Energy Transition Mechanism: Emerging Social, Environmental and Rights-Based Considerations." The report raises critical questions and concerns about the Energy Transition Mechanism (ETM), which is being advanced by the Asian Development Bank (ADB) as a market-oriented solution to accelerate the process of taking coal power off of national energy grids in specific Southeast, South and Central Asian countries and replacing it with other sources of power. FFA and NGO Forum on ADB (December 2022). The Asian Development Bank's Energy Transition Mechanism: Emerging Social, Environmental and Rights-Based Considerations. FFA and the Forum developed this report to serve as a source of key information for groups monitoring how the ETM is being operationalized, as well as for communities liv
BANGKOK, Dec. 8, 2022 /PRNewswire/ Fair Finance Asia (FFA), in collaboration with Stockholm Environment Institute (SEI) and research partners Profundo and Strategia Development Research Institute (SDRI), have launched a new report, "Financing the Just Transition: Powering Asia's Sustainable Energy Future." Based on energy sector financing and investments flows data from 13 selected Asian countries during the period 2016 to September 2022, the study culminates with two broad and overarching conclusions: FFA and SEI (2022). Financing the Just Transition: Powering Asia's Sustainable Energy Future Asia is experiencing an 'energy addition' rather than an energy transition due to the slow uptake of climate and energy policies adopted by Asian policymakers, financial regulators, as well as banks and investors in Asia and beyond. This means that increasing volumes of renewable energy generating capacity are added to currently dirty and fossil-intensive grids, leadin