Climate Diplomacy
Development
Energy
Asia
Megan Darby, Climate Home

As falling renewable energy costs and a shadow carbon price are making coal power investments unviable the Asian Development Bank (ADB) is making a decisive shift to clean energy, according to bank energy chief Yongping Zhai.

Coal plants are becoming unviable investments, Yongping Zhai wrote in Viet Nam News, as renewable energy costs fall and the bank puts a carbon price in excess of $36 a tonne on lending decisions. The bank last approved a coal power project five years ago, he said, to convert Pakistan’s Jamshoro plant to run on coal instead of heavy fuel oil. Last year it backed $2 billion worth of investment into renewable energy and energy efficiency, on the way to a $3bn target for 2020. Some of its more innovative projects include a battery storage pilot to back up wind power in Pakistan, and a floating solar farm in Vietnam. “Clean energy will power Asia’s future,” wrote the bank executive. “We will ensure that, as we meet our own climate finance targets, ADB’s lending portfolio has no place for ‘dirty energy’.” In the “transition” to clean energy, the bank continues to support gas-fired power plants, which emit roughly half the CO2 of coal plants.

Analysis by think-tank E3G based on 2015-16 data found that ADB was still investing slightly more in fossil fuel projects than green energy. On overall alignment with the goals of the Paris Agreement, it ranked ADB fourth out of six major development banks. The authors urged ADB to limit oil and gas lending and update its carbon price. How Asia meets its fast-growing energy demand is critical to meeting global climate goals. Many governments and financiers are still betting on coal, which would blow the targets, but development banks are moving towards cleaner options.

[This article originally appeared on climatechangenews.com.]

 

 

Source:
Climate Home

Peter Schwartzstein, Center for Climate and Security

The longstanding dispute over water rights among Egypt, Sudan and Ethiopia escalated in 2011 when Ethiopia began construction of the Grand Ethiopian Renaissance Dam (GERD), in the absence of any agreement with downstream Egypt. The GERD dispute offers an alarming insight into just how dangerous future transboundary water disputes may become, particularly in the context of a changing climate.

Sustainable Transformation
Global Issues
Emily Wright, adelphi

Coinciding with the first days the German Presidency of the European Council, on 3 July 2020 adelphi and the Institute for European Studies at the Vrije Universiteit Brussel launched a new report “The Geopolitics of Decarbonisation: Reshaping European Foreign Relations”. This summary highlights the event's key outcomes.

Gender
South America
Central America & Caribbean
Adriana Erthal Abdenur, Igarapé Institute

​Women in the region suffer disproportionately from climate impacts, but they also play an essential role in addressing climate change. With the right policy responses, it is possible to reduce security risks and empower women to better address the challenges they face.

The impact of climate change is posing a growing threat to peace and security. Germany is therefore putting climate and security on the Security Council’s agenda.