Australia urged to support Asian Development Bank plan to end fossil fuel financing
Thirty-five organisations implore Australia, which is ADB’s fifth-largest shareholder, to help the region ‘make a just and equitable low-carbon transition’
The Australian government is being urged to support an end to the financing of fossil fuel projects as the Asian Development Bank prepares to signs off on a new energy policy later this month.
The ADB “will not support coalmining, processing, storage, and transportation, nor any new coal-fired power generation”, according to a draft version of the policy, which also endorses “the early retirement of coal-based power plants”.
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