Mitra dalam Gas: Bagaimana Investasi ADB di Clifford Capital Terus Mendukung Gas Fosil di Asia

The report examines the Asian Development Bank's (ADB) 95 million USD equity investment in Clifford Capital, a Singapore-based financial intermediary. It argues that ADB's use of financial intermediaries (FIs) creates a transparency gap that allows continued support for fossil gas projects, contradicting the bank's stated goals of Paris Agreement alignment. The document highlights specific projects in Indonesia and Bangladesh as examples of environmental and social harm resulting from such investments and calls for a phased exit from fossil gas funding.

• The Asian Development Bank (ADB) invested 95 million USD in equity in Clifford Capital in July 2020 through the Asian Sustainable Infrastructure Mobilization Project to support sustainable infrastructure in Asia.
• ADB's financing through financial intermediaries (FIs) lacks transparency, which the report claims creates a loophole that allows the bank to avoid fossil fuel restrictions introduced during the 2021 Energy Policy review in 2025.
• Clifford Capital has significant exposure to fossil fuels; specifically, between 34% and 63.9% of the infrastructure securitization portfolios of Bayfront Infrastructure Capital (BIC II-VII) consisted of oil and fossil gas projects.
• ADB acknowledges that its investment in Clifford Capital has supported fossil gas projects, including the Myingyan Natural Gas Power Project in Myanmar, the Tangguh LNG Expansion Project (Tangguh Train 3) in West Papua, and the Riau Natural Gas Power Project in Indonesia.
• In Indonesia, the Tangguh LNG project has caused significant environmental damage, specifically destroying vital mangrove forests in Bintuni Bay, and has led to the marginalization of indigenous Papuan communities.
• In Bangladesh, the Bhola-2 gas power plant project has been linked to land acquisition issues involving coercion and intimidation, as well as environmental degradation causing flooding in Dakshin Kutba village.
• Between 2017 and 2025, ADB provided significantly more funding for fossil gas than for renewable energy in Bangladesh (802.20 million USD vs 132.48 million USD) and Indonesia (1.7 billion USD vs 735.38 million USD).

APA

Pamintuan, M. (2026). Mitra dalam Gas: Bagaimana Investasi ADB di Clifford Capital Terus Mendukung Gas Fosil di Asia. Trend Asia. https://trendasia.org/wp-content/uploads/2026/06/Partners-in-Gas_Bahasa_digital.pdf

Chicago

Pamintuan, Marjorie. Mitra dalam Gas: Bagaimana Investasi ADB di Clifford Capital Terus Mendukung Gas Fosil di Asia. Trend Asia, 2026. https://trendasia.org/wp-content/uploads/2026/06/Partners-in-Gas_Bahasa_digital.pdf.

Wikipedia

{{cite report |last1=Pamintuan |first1=Marjorie |title=Mitra dalam Gas: Bagaimana Investasi ADB di Clifford Capital Terus Mendukung Gas Fosil di Asia |publisher=Trend Asia |date=April 2026 |url=https://trendasia.org/wp-content/uploads/2026/06/Partners-in-Gas_Bahasa_digital.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{pamintuan2026mitra, author = {Pamintuan, Marjorie}, title = {{Mitra dalam Gas: Bagaimana Investasi ADB di Clifford Capital Terus Mendukung Gas Fosil di Asia}}, institution = {Trend Asia}, year = {2026}, month = apr, url = {https://trendasia.org/wp-content/uploads/2026/06/Partners-in-Gas_Bahasa_digital.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }