STOP COAL FINANCING IN THE ASIA PACIFIC

The report by Friends of the Earth Asia Pacific criticizes the Asian Development Bank (ADB) for continuing to fund coal-fired power plants and mines despite its own policies recognizing the risks of climate change. It highlights specific projects in India, Pakistan, and the Philippines where ADB funding led to environmental degradation and community harm. The document calls for a total ban on new coal financing and a shift toward renewable energy alternatives.

• The Asian Development Bank (ADB) has been a major public financier of coal, investing $3.9 billion in 21 projects between 1994 and 2012, and over $3 billion in coal projects between 2007 and 2014.
• The ADB's $450 million investment in the Tata Mundra Ultra Mega Coal plant in Gujarat, India, resulted in significant harm to local health and livelihoods, with the plant estimated to emit 30.796 million tons of CO2 per year.
• In 2013, the ADB approved a $900 million investment for the Jamshoro coal fired power plant in Sindh, Pakistan, despite objections from shareholders including the U.S., Finland, Denmark, Netherlands, Norway, and Sweden.
• The ADB funded the Naga coal fired power plant complex in the Philippines with $120 million in 2009, despite the region's high geothermal potential, which is estimated at 1,619 MW in the Visayas.
• The ADB's current energy policy allows for the financing of coal mines if they are for 'captive use' by thermal power plants or are in 'nascent stages' struggling to find commercial finance.
• The ADB supports 'clean coal' technologies, such as carbon capture and storage and integrated gasification combined cycle, which Friends of the Earth Asia Pacific characterizes as 'false solutions' that prolong the use of fossil fuels.
• Compared to other Multilateral Development Banks (MDBs) like the World Bank and EBRD, which only fund coal in 'rare' or 'exceptional' circumstances, the ADB's policies are viewed as insufficient to meet the 1.5 degree limit of the Paris Agreement.

APA

Friends of the Earth International (n.d.). STOP COAL FINANCING IN THE ASIA PACIFIC. https://www.foei.org/wp-content/uploads/2021/08/Friends-of-the-Earth_Stop-Coal-Financing-in-Asia-Pacific_2017.pdf

Chicago

Friends of the Earth International. STOP COAL FINANCING IN THE ASIA PACIFIC. n.d. https://www.foei.org/wp-content/uploads/2021/08/Friends-of-the-Earth_Stop-Coal-Financing-in-Asia-Pacific_2017.pdf.

Wikipedia

{{cite report |author=Friends of the Earth International |title=STOP COAL FINANCING IN THE ASIA PACIFIC |url=https://www.foei.org/wp-content/uploads/2021/08/Friends-of-the-Earth_Stop-Coal-Financing-in-Asia-Pacific_2017.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{friendsoftheearthinternationalndstop, author = {{Friends of the Earth International}}, title = {{STOP COAL FINANCING IN THE ASIA PACIFIC}}, institution = {Friends of the Earth International}, url = {https://www.foei.org/wp-content/uploads/2021/08/Friends-of-the-Earth_Stop-Coal-Financing-in-Asia-Pacific_2017.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }