Posts tagged ‘ADB’

Open letter to Australian Government on Asian Development Bank funding new fossil fuel projects

Protest urging ADB to go Fossil Free (Source: FossilFree ADB)

Climate Action Moreland joined 34 other civil society organisations, including Neighbours United for Climate Action (NUCA), to sign an open letter addressed to Federal Ministers and Labor Party Shadow Ministers urging the Australian government to stop pushing support of coal and gas related projects in the negotiation of the Asian Development Bank (ADB) new energy policy.

Both the International Energy Agency Roadmap to 2050 released in May 2021 and the IPCC 6th climate change assessment report released in August 2021 makes clear we cannot afford ANY new fossil fuel projects to be funded consistent with the Paris Agreement agreed targets.

Neighbours United for Climate Action also signed the open letter.

“Since the Paris Agreement, the ADB has financed at least $4.9 billion in fossil fuels, almost all of which (96%) has gone to gas. The ADB cannot be a climate leader without a clear end to gas finance.” says an analysis of the Draft Energy policy done by Fossil Free ADB.

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October 7, 2021 at 1:03 am Leave a comment


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