The Asian Development Bank must end its 50 year addiction to coal

The statement by Friends of the Earth International criticizes the Asian Development Bank (ADB) for investing over $3 billion in coal projects over the last decade despite recognizing climate change as a threat to poverty alleviation. It highlights the Tata Mundra Ultra Mega Coal plant in India as a primary example of environmental and social harm caused by ADB funding. The document demands that the ADB ban all coal funding and relinquish its legal immunity to allow affected communities to seek justice.

• The Asian Development Bank (ADB) has invested more than $3 billion in coal projects over the last ten years, making it the third largest multilateral public financier of coal infrastructure.
• The $450 million ADB investment in the 4,000-megawatt Tata Mundra Ultra Mega Coal plant in Gujarat, India, resulted in significant environmental damage, including groundwater pollution and coal dust contamination of agriculture, and harmed local health and livelihoods due to a lack of community consultation and failed pollution management.
• The ADB's 'legal immunity for investments' prevents it from being held responsible for the impacts of its coal funding, leading to demands for the withdrawal of this immunity so the bank can be sued by affected parties.
• The document notes that while some multilateral banks have reduced coal funding, none have stopped entirely, and new institutions like the Asian Infrastructure Investment Bank (AIIB) still consider funding coal-fired power plants if they replace less efficient capacity.

APA

admin (2017). The Asian Development Bank must end its 50 year addiction to coal. Friends of the Earth International. https://www.foei.org/the-asian-development-bank-must-end-its-50-year-addiction-to-coal/

Chicago

admin. The Asian Development Bank must end its 50 year addiction to coal. Friends of the Earth International, 2017. https://www.foei.org/the-asian-development-bank-must-end-its-50-year-addiction-to-coal/.

Wikipedia

{{cite press release |last1=admin |title=The Asian Development Bank must end its 50 year addiction to coal |publisher=Friends of the Earth International |date=3 May 2017 |url=https://www.foei.org/the-asian-development-bank-must-end-its-50-year-addiction-to-coal/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2017asian, author = {admin}, title = {{The Asian Development Bank must end its 50 year addiction to coal}}, publisher = {Friends of the Earth International}, year = {2017}, month = may, url = {https://www.foei.org/the-asian-development-bank-must-end-its-50-year-addiction-to-coal/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }