Report: Accountability gap in AIIB’s capital market projects

The briefing examines how the AIIB uses capital market projects to leverage private finance while bypassing its own accountability mechanisms, specifically citing the Bayfront project as an example where investments enabled fossil gas projects and harmful renewable energy projects.

• The AIIB has approved investments in eight capital market projects totaling up to $1.94bn to mobilize private capital for infrastructure in developing economies.
• The AIIB creates an accountability gap by applying the Environmental and Social Governance (ESG) approach instead of its Environmental and Social Policy (ESP) for capital market projects, and by making such projects ineligible for the Project-affected People’s Mechanism (PPM).
• Analysis of the Bayfront project indicates that AIIB investments enabled fossil gas projects—including one violating the bank's Energy Sector Strategy—and renewable energy projects causing environmental and social harms.

APA

Pamintuan, M. (2024). Report: Accountability gap in AIIB’s capital market projects. Recourse. https://re-course.org/newsupdates/aiib-capital-market-projects-bayfront/

Chicago

Pamintuan, Marjorie. Report: Accountability gap in AIIB’s capital market projects. Recourse, 2024. https://re-course.org/newsupdates/aiib-capital-market-projects-bayfront/.

Wikipedia

{{cite report |last1=Pamintuan |first1=Marjorie |title=Report: Accountability gap in AIIB’s capital market projects |publisher=Recourse |date=23 September 2024 |url=https://re-course.org/newsupdates/aiib-capital-market-projects-bayfront/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{pamintuan2024report, author = {Pamintuan, Marjorie}, title = {{Report: Accountability gap in AIIB’s capital market projects}}, institution = {Recourse}, year = {2024}, month = sep, url = {https://re-course.org/newsupdates/aiib-capital-market-projects-bayfront/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }