Forum Asks ADB Anew to Redirect Its Destructive Energy Investment Path Towards Renewables

Referencing the recent encyclical of Pope Francis on the environment, which points out the grave implications of climate change to developing countries in the coming decades, NGO Forum stepped up its call for the Asian Development Bank to channel its energy financing from environmentally and socially-destructive projects to better renewable solutions. In a letter addressed to ADB President Takehiko Nakao, Forum said the Bank could have avoided its highly questionable investment path as exemplified by India’s Tata Mundra coal plant, Laos’ Nam Theun 2 dam, and the Philippines Naga coal plant, through a genuine renewable program. [Read more]

  • At the 48th Baku Annual Governors Meeting, Forum pressed the ADB president and senior management to address issues on its investments related to safeguards delivery, human rights, Post-MDGs agenda and the newly-created AIIB.
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