ADB-ETM: MORE HARM THAN GOOD?

6 Non-Negotiables for a True Energy Transition

The Asian Development Bank (ADB) is promoting itself as a leader of bold actions for accelerating the coal transition to clean energy when it launched the Energy Transition Mechanism (ETM) in 2021. With the recognition of the worsening threat of the climate crisis in Asia and the Pacific, cutting emissions from the coal-fired power plants, as the largest source of greenhouse gas emissions, is the path the region must take to meet climate targets. However, having this mechanism in place will not absolve the Bank’s history as a fossil fuelenabler.Foranenergytransitionto be successful, ADB should put climate justice at the center of its framework for climate finance and address serious concerns stemming from its past and ongoing investments in dirty projects in Asia.