While climate disasters are plaguing the world, ADB has spent roughly US$10 billion on fossil fuels under its 2009 Energy Policy. Considering ADB’s historical responsibility to the climate, the current Energy Policy review provides the opportunity to significantly shift its role as an Asian climate finance bank and help borrowing governments meet the Paris Agreement on Climate Change goal of limiting global temperature rise to 1.5°C. The NGO Forum on ADB will explore on the political appetite among donor countries for a fossil-free ADB and developing Asia, and unpack the pitfalls of false solutions in climate finance.
