Implementation challenges could block funding for other equally important high impact clean energy funding strategies

24 September 2021 (IEEFA Asia): In the lead up to the United Nations Climate Change Conference COP26, the Asian Development Bank (ADB) announced a plan to speed up the retirement of high emissions coal-fired power plants in Southeast Asia. This announcement sets the stage for a transformation of the Asian multilateral development bank’s (MDB) role in guiding power infrastructure development in the region, finds a new report by the Institute for Energy Economics and Financial Analysis (IEEFA).

With British insurer Prudential and other financial firms, ADB’s ambitious plan is to build public-private funding vehicles to buy coal-fired power plants and retire them within 15 years to allow countries time to switch to renewable energy.

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