Civil society organizations asked the Asian Development Bank, as standard bearer of multilateral banks, to adopt stringent measures and finance more renewable energy projects in accordance with the 1.5-degree limit on global warming.
“In order for the bank to demonstrate its commitment in unambiguous terms, it should have a time-bound phase-out plan for natural gas and intensify investments on renewable energy projects that are neither harmful to the environment nor to the affected communities,” Rayyan Hassan, executive director of NGO Forum on ADB, said in a statement.
The NGO Forum on ADB is an Asian-led network of civil society organizations, based in Asia and the Pacific region. ADB is currently holding its 14th Asia Clean Energy Forum (ACEF) from June 17 to 21.
The NGO Forum on ADB along with its member partners urged ADB to meaningfully act on the urgency of climate crisis in the Asia-Pacific.