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

Climate Change
Security
Global Issues
North America
Dana Nuccitelli, Yale Climate Connections

Intelligence analysts have agreed since the late 80s that climate change poses serious security risks. A series of authoritative governmental and non-governmental analyses over more than three decades lays a strong foundation for concern over climate change implications for national security.

Civil Society
Climate Change
Europe
Global Issues
Adrian Foong (adelphi)

Originally planned as a demonstration against fuel tax hikes, the Gilets Jaunes (Yellow Vests) revolts have sparked national and global debates. Some view the demonstrations as part of a rising anti-climate movement, while others draw parallels between the protests and demands for more climate action.

 
Climate Change
Climate Diplomacy
Global Issues
Dennis Tänzler, adelphi

2019 has only just begun, but it is already hard to imagine that there will be other extreme weather events with disastrous consequences such as cyclone Idai happening again this year. In all likelihood, such events will continue to occur as 2019 rolls on. Idai is, once more, proof of how devastating and toxic the mix of climate change, extreme weather events and poverty can be: Mozambique, Malawi and Zimbabwe – countries that rank low in human development but contribute very little to global greenhouse gas emissions – suffer from some of the worst impacts of climate change.

Climate Change
Climate Diplomacy
Energy
Environment & Migration
Land & Food
Water
Global Issues
Daria Ivleva and Pia van Ackern, adelphi

adelphi has relaunched its exhibition Environment, Conflict and Cooperation (ECC) Exhibition to illustrate how unprecedented environmental changes interact with social, political, and economic risks to exacerbate conflict. We invite you to explore our online exhibition and to learn more about urgent issues of our time: climate, energy, migration, extractives, food and water.