The Islamic Development Bank is the only MDB still financing new coal
ADB will no longer finance coal power
The Asian Development Bank (ADB) will no longer finance new coal projects under a draft policy out for consultation. The financing of coal projects by multilateral development banks (MDBs)—sometimes justified by the fact that the new coal plants are more efficient than those being replaced—has come under increased scrutiny since the Paris Agreement. As a result, the ADB has not invested in new coal-fired capacity since that date but it has not until now adjusted its official policy. The policy will have to be agreed by board members before it becomes official. “We must invest more in climate adaptation” Asakawa, ADB Last year, an independent review recommended that the bank revisit i
Also in this section
28 March 2025
The massive expansion of the Northern Lights project in Norway is the clearest sign yet that the European oil and gas companies mean business when it comes to CCS
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
20 March 2025
While advanced economies debate peak fossil fuel demand, billions of people still lack access to reliable and affordable energy, especially in the Global South
14 March 2025
Ignoring questions of sustainability will not make the problems they focus on go away
