Email the AIIB | The Big Shift Global

The world’s newest multilateral development bank, the Asian Infrastructure Investment Bank (AIIB), is standing at a crossroads – will it become a climate champion or continue to promote fossil fuels?

The AIIB has committed to be ‘green’ and to support the implementation of the Paris Climate Agreement and the Sustainable Development Goals.

But the AIIB is yet to put its commitments into action through its investments. As of May 2019, at least 20% of the AIIB’s total portfolio supported fossil fuels. This stands in stark contrast to just 8% going towards renewables – mainly funding large scale renewable projects, rather than distributed renewable energy options which could reach the poorest communities.

As the AIIB prepares to meet for its fourth Annual Meeting in Luxembourg in July, it is time to call on the AIIB to turn its rhetoric on the climate crisis into action!

TAKE ACTION

Email the President of the AIIB, Jin Liquin and his colleagues, and urge the AIIB to develop an ambitious climate action plan and shift its investments away from fossil fuels and towards sustainable renewable energy that supports energy access for poor communities.

We have provided editable suggested text for your email below.

Call on the AIIB to develop an ambitious climate action plan that shifts funding from fossil fuels to renewable energy to fund energy access

Dear President Jin

The evidence is clear: global climate change is a real threat to the world as we know it. According to the most recent IPCC report, fossil fuels need to be phased out urgently for us to meet the 1.5°C Paris Climate Agreement target.

As a bank that prides itself on being ‘green’, the AIIB can play an important role in the battle against climate change, but it is lagging behind. I am concerned that the AIIB is investing a far higher proportion of its funds into fossil fuel projects rather than supporting clean and sustainable renewable energy. I am also concerned that the AIIB is failing to invest in  distributed renewable energy access, essential for reaching the Sustainable Development Goal to provide energy access for all by 2030.

I am writing to urge the AIIB to step up its game and take a leadership role in the fight against climate change, starting with three key steps:
•	Develop an AIIB Climate Change Action Plan, with clear and ambitious targets for how the AIIB will align its policies and operations with the Paris Climate Agreement and efforts to limit the global temperature increase to 1.5°C above pre industrial levels.
•	Provide a road map for the AIIB to shift direct and indirect investments from fossil fuels to renewable energy by 2020, including ruling out all financing for coal and any investment that would result in increased coal use, and matching the World Bank’s commitment to end financing for upstream oil and gas.
•	Ensure all energy projects funded by the AIIB help lift more people out of energy poverty in a sustainable way, especially by scaling up support for decentralised renewable electricity and clean cooking solutions. This should exclude large hydro dams which can cause extensive social and environmental harms.

Yours sincerely,

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