Fossil Free ADB reaction to Asian Development Bank draft energy policy

May 10, 2021By OCI TeamPress Releases

The Asian Development Bank issued its draft energy policy on Friday following the conclusion of its 54th Annual Meeting and clarion calls from the United Nations to end financing for all fossil fuels including gas. This first draft has ruled out financing for coal but allows for continued gas finance which dominates the ADB’s fossil fuel lending.

Q&A: Legal opinion on ECA finance for fossil fuels

May 4, 2021By OCI TeamSupport Page

1. What does the legal opinion say? The legal opinion says that in the context of the climate emergency, and the rapidly diminishing carbon budget, there is an “in principle” requirement on states under international law to stop financing new fossil fuel projects. They should also decrease the funding of existing fossil fuel projects under … Read More