The Asian Development Bank’s continued support for fossil fuel projects Asia and the Pacific means that it is contributing to the acceleration of the climate crisis as well as harming communities and ecosystems.
Since 2009, the Asian Development Bank (ADB) has spent US$10 billion on fossil fuel projects.
These actions undermine the bank’s own mission to achieve “a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.”
Civil society organizations and people's movements from Asia, Europe, North America, and Australia have launched a “Fossil Free ADB” campaign to pressure the Asian Development Bank (ADB) to end its financing and support for gas, coal and oil. The international coalition is calling on the ADB to use its energy policy review to demonstrate meaningful climate leadership and end its support for fossil fuels.
This is a chance for the decisions made by the ADB to have a positive impact for communities and the planet.
We urge the ADB to stop funding dirty fossil fuel projects and other destructive projects and commit to a climate safe and equitable future. This means rapidly scaling up investments for renewable energy, energy efficiency, community microgrids to maximize energy access, and just transition for workers and communities dependent on fossil fuel production.
In funding dirty fossil fuel projects the ADB has also exacerbated the debt burdens of its member countries. The debt burden created by ADB lending, especially lending to harmful projects must be eased and the new energy should assist with this by converting the outstanding balance of ADB loans to coal projects into grants for renewable energy.
Join us in emailing the president and some of the key decision-makers at the ADB. We have suggested the text below so all you have to do is fill in your name and email address and press send!