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!
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.