The ADB unveiled at the climate summit its Energy Transition Mechanism, a private sector-led initiative to retire existing coal power plants. But climate groups call the scheme “premature and unclear.”
The Asian Development Bank has pledged to elevate climate financing by US$20 billion to US$100 billion by 2030. But the UN's António Guterres said that "much more is needed" as development banks have a crucial role to play in the world's low-carbon transition.
Narsingh Chaudhary and Harry Harji –
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.
Covid-19 has disrupted the global economy and upended life as we know it. In these unprecedented times, competent leadership has never been more critical, and this requires a deep understanding of sustainability issues.