Grassroots movements, non-government organizations and civil society networks across Asia and the rest of the world expressed “strong disappointment and disagreement”…to the Energy Sector Strategy of the Asian Infrastructure Investment Bank (AIIB), which is holding its 2nd Annual Board of Governors Meeting in Jeju, South Korea…

Disappointed for still allowing coal financing

Lidy Nacpil, coordinator of the Asian Peoples’ Movement on Debt and Development (APMDD) said, “We welcome the fact that we were invited to submit our proposals and concerns during the process of drafting the bank’s Energy Sector Strategy. But we are disappointed to and disagree with the Energy Sector Strategy paper for still allowing coal financing. While it qualifies the conditions under which coal projects can be financed by the AIIB, the circumstances described still leaves the door wide open for coal support”.

“… Coal power’s huge contribution to the escalation of the climate crisis is well-established and widely acknowledged.  It is in direct contradiction to AIIB’s avowed commitment to sustainable development and the Paris Agreemen…” Rayyan Hassan of the NGO Forum on ADB clarified.

Clean coal is unacceptable

Sreedhar Ramamurthi, managing trustee of India's Environics Trust expounded, “… There is no longer any excuse not to directly shift to renewable energy systems, which have already become more economically and financially feasible alternatives as evidenced by experiences in many countries including China and India”.

Wawa Wang…of Bankwatch…“…we disagree with AIIB supporting large hydro systems such as Nenskra hydropower in Georgia, which is in the Bank’s pipeline to be decided upon on September. For decades communities in Asia have resisted these projects for their devastating social and environmental impacts,”...

Antonio Tricarico of Re:Common, formerly with the Campaign to Reform the World Bank (CRBM) concluded, “The AIIB, if it is to be true to its claims as a “green bank,” must marshal its resources to support a swift and just transition to renewable and clean energy systems for people and communities of Asia, and put an end to fossil fuels and other harmful energy as soon as possible.  Our people and planet deserve no less.”