Energy policy supporting low carbon transition in Asia and the Pacific
The Asian Development Bank (ADB) released its draft energy policy, which states that the institution “will not finance any new coal-fired capacity for power and heat generation or any facilities associated with new coal generation. ADB’s new policy to stop coal financing is a long-delayed and incremental move. Communities throughout Asia have struggled for decades to demand ADB to stop financing dirty energy. But while their new energy policy puts the brakes on coal financing, it still opens doors for fossil gas development.