STOP COAL FINANCING IN THE ASIA PACIFIC

This report by Friends of the Earth International criticizes the Asian Development Bank (ADB) for continuing to finance coal projects in the Asia Pacific region despite its own stated commitments to climate action and poverty elimination. The document details specific coal investments, analyzes the ADB's policy gaps regarding coal mines and power generation, and compares the ADB's approach to other Multilateral Development Banks (MDBs).

• The Asian Development Bank (ADB) has been a major financier of coal, with the Natural Resource Defense Council identifying it as the third largest international public financier of coal-fired power plants between 1994 and 2012, investing $3.9 billion in 21 projects, and continuing significant funding from 2007 to 2014 with over $3 billion invested.
• The ADB's 2009 Energy Policy contains a contradiction where it acknowledges that economic growth is unsustainable if met by fossil fuels and identifies climate change as a fundamental challenge, yet it does not rule out the financing of fossil fuel projects.
• ADB policy allows for the financing of coal mines if they are for 'captive use' by thermal power plants or if they are in 'nascent stages' that struggle to find commercial finance and contribute to domestic electricity development.
• The ADB supports 'clean coal' technologies—including carbon capture and storage, integrated gasification combined cycle, and pressurized fluidized combustion—and the retrofitting of existing stations, which Friends of the Earth Asia Pacific characterizes as 'false solutions' that prolong the use of dirty energy.
• Specific high-impact projects funded by the ADB include the $450 million Tata Mundra Ultra Mega Coal plant in Gujarat, India, which caused environmental harm and health issues; the $900 million Jamshoro coal project in Sindh, Pakistan, approved despite shareholder objections; and the $120 million Naga coal complex in the Philippines.
• Compared to other Multilateral Development Banks, the ADB is seen as part of a trend toward restricting coal, but other institutions have more explicit limits: the World Bank only finances coal in 'rare circumstances,' the EBRD only in 'rare and exceptional circumstances,' and the EIB's emissions performance standard effectively blocks most coal lending.
• Friends of the Earth Asia Pacific expresses concern that the Asian Infrastructure Investment Bank (AIIB) may be more flexible than the ADB and open to financing coal projects without strict environmental terms.

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} }