More than 60 Asian CSOs call on ADB to clarify details of its coal retirement mechanism proposal before COP26 announcement
The Asian Development Bank (ADB) must delay soliciting financial support for its coal buy-out scheme in Southeast Asia at COP26 until it has addressed a number of practical concerns about this proposal, including the risk it could undermine an ambitious, swift, and just transition from coal in targeted areas, an alliance of non-governmental organizations from across Asia said on Monday.
Towards a swift and just end to coal: A statement of civil society and communities in Asia-Pacific urging the Asian Development Bank not to gamble with our climate plight with a premature coal buy-out scheme
Beginning November 1, global leaders are coming together in what will be the most critical conversation for the climate at the 26th Conference of Parties in the United Kingdom. As announced by the Asian Development Bank (ADB), they will be co-hosting an event on November 3rd in Glasgow with the Governments of the Philippines and Indonesia to launch the Energy Transition Mechanism (ETM) partnership. The ETM proposes the early closure of operating coal-fired power plants in Asia by buying them out from current operators, starting with three pilot countries: the Philippines, Indonesia, and Vietnam. The intention of such an announcement is reportedly for ADB and its partners to seek “finance and other commitments” for the mechanism.
Joint Submission by NGO Forum on ADB & Urgewald on the AIIB Environmental and Social Framework
The Forum network thinks that this newly approved AIIB ESF, in general, has some improvements from the draft released in September 2020 but still has limitations in prioritizing real protections for project-affected communities, whose rights should be at the center of project design, operation, and implementation. The network calls out the material weaknesses in provisions of this ESF and urges the bank to exercise due diligence on community and environmental protection in its implementation of this framework. The Forum will highlight some of the problematic sections in the critique below to help guide AIIB towards a more responsible and binding ESF that holds clients accountable to both environment and communities.