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NFP
NOT FIT FOR PURPOSE

 

As the Asian Development Bank (ADB) pushes forward with its Energy Transition Mechanism (ETM) pilots, civil society organizations and social movements are raising urgent questions. Is the ETM truly advancing a just and sustainable transition, or is it a market-driven strategy that risks perpetuating injustice and corporate impunity?

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This new paper, developed for the NGO Forum on ADB and its allies, provides an in-depth analysis of the ETM’s evolution, financing structures, and potential risks—offering a vital resource for advocates fighting for climate, labor, gender, and social justice. Grounded in collective insights from years of engagement and resistance, the paper challenges the ADB’s approach, exposing how ETM mechanisms could serve as backdoors for continued fossil fuel financing rather than meaningful climate action.

 
COP29
Unpacking ADB and AIIB’s False Narrative in COP29

 

The global climate crisis has undeniably reached alarming levels, with unprecedented record-breaking temperatures. Recent studies showed that June 2024 marked the thirteenth consecutive month of record-high global temperatures and the twelfth month of consistently breaching the 1.5°C threshold pre-industrial levels of surface air temperature. The acceleration of global warming and extreme weather events, particularly in Asia being the most climate-vulnerable region, has brought devastating loss of life and destruction to communities, underlining the urgency of addressing the crisis. The region has experienced its hottest summers, driest winters, and strongest typhoons. In the past months, different countries in Asia were swallowed by severe flooding, including the Philippines, Malaysia, Indonesia, Thailand, Bangladesh, Pakistan, and many others. The prolonged and accelerating high temperatures are just the tip of an iceberg to picture the threats of this ecological crisis globally.

 
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NGO Forum comments on ADB ESF R-paper

 

Following NGO Forum on ADB network and allies call for redrafting the ADB ESF W-paper we acknowledge the substantial changes made to the current R-paper. We have also appreciated the lengthy in-person discussion held with the Office of the Safeguards team in Manila following the release of the R-paper. We are pleased that some key revisions and additions that were advocated for by civil society that are reflected in the R-paper include –

 

  • 120-day disclosure period for sovereign projects

  • Common Approach: Commitment to applying the requirements among the co-financiers that are the most stringent or protective of the project-affected persons and/or the environment

  • The Financial Intermediaries annex is now included in the overall ESF framework

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