CSOs call on the AIIB to address the climate crisis

Forty-seven civil society organisations have urged the Asian Infrastructure Investment Bank (AIIB) to align its operations with the Paris Agreement by ending investments in fossil fuels and prioritizing renewable energy and energy access for poor communities.

• Civil society organisations argue that the AIIB lacks a public plan to address the climate crisis and that its 2017 Energy Sector Strategy (ESS) is deficient because it does not exclude coal funding and relies on natural gas.
• The AIIB's investment portfolio is heavily skewed toward fossil fuels; approximately 60% of its energy sector investments support fossil fuels, while only 20% go to renewable energy. In terms of total investments, fossil fuels account for one-fifth of the portfolio, whereas renewable energy accounts for only 8%.
• In Bangladesh, despite over $400 million in approved funding, the AIIB has provided no support for renewable energy, instead funding a greenfield natural gas and diesel power plant and other gas and heavy fuel oil plants via the IFC Emerging Asia Fund.
• The signatories demand that the AIIB implement several specific reforms: creating a climate change action plan aligned with the 1.5°C goal, banning all coal financing, ending upstream oil and gas financing by 2020, and excluding 'false climate solutions' such as carbon capture and storage and large hydropower dams.
• The CSOs call for the AIIB to close loopholes in financial intermediary (FI) lending by requiring clients to disclose fossil fuel investments and limiting investment to FI clients with less than 5% portfolio exposure to coal.

APA

rrotadmin (2019). CSOs call on the AIIB to address the climate crisis. Recourse. https://re-course.org/newsupdates/csos-call-on-the-aiib-to-address-the-climate-crisis/

Chicago

rrotadmin. CSOs call on the AIIB to address the climate crisis. Recourse, 2019. https://re-course.org/newsupdates/csos-call-on-the-aiib-to-address-the-climate-crisis/.

Wikipedia

{{cite press release |last1=rrotadmin |title=CSOs call on the AIIB to address the climate crisis |publisher=Recourse |date=11 July 2019 |url=https://re-course.org/newsupdates/csos-call-on-the-aiib-to-address-the-climate-crisis/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{rrotadmin2019csos, author = {rrotadmin}, title = {{CSOs call on the AIIB to address the climate crisis}}, publisher = {Recourse}, year = {2019}, month = jul, url = {https://re-course.org/newsupdates/csos-call-on-the-aiib-to-address-the-climate-crisis/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }