The international association notes that transition finance is often criticised for opening the door to greenwash, but recommends a nuanced approach where firms that need help in shifting away from carbon-intensive activities comply with disclosure requirements instead.
At the G20 summit, the Energy Transition Mechanism Country Platform was launched and developed countries led by the United States and Japan also announced a US$20 billion package to Indonesia to help fund the coal-dependent country’s shift to renewable energy.
As the Asian Development Bank embarks on a review of its policies on labourers and communities affected by its projects, advocates score its existing one for lack of public consultation and binding mechanisms.
Some 34 countries signed a statement at last year’s climate talks to end new financing for fossil fuels by the end of 2022. But so far, only a handful of them have updated policies that turn these pledges into action, new research found.
How will Asia's energy transition mechanism — potentially the world’s largest CO2 reduction programme — phase-out coal in the energy-hungry region?
Masatsugu Asakawa, Sri Mulyani Indrawati, Carlos Dominguez
As governments’ efforts to tackle climate change accelerate, asset owners with significant long-term capital tied up in coal-fired generation will need to reconsider the role of their facilities to avoid their assets becoming stranded.
Narsingh Chaudhary and