Asian cities search for ways to finance climate projects
Underdeveloped municipal bond markets hinder green action, experts say FRANCESCA REGALADO, Nikkei Asia staff writer | November 26, 2021 13:49 JST | READ THE STORY HERE TOKYO -- Closed since the onset of the pandemic, Commonwealth High School in Metro Manila has been making a contribution to the local community of Quezon City through its solar panels. Installed in May last year, the panels can produce around 100,000 kilowatt-hours per year -- enough to power the campus and some surrounding areas. The installation was the first in an ambitious plan by the government of Quezon City to shift all public [...]
Asian Development Bank to end coal, oil and gas financing
Published by Nikkei Asia | May 8, 2021 | READ THE STORY HERE Environmental groups welcome move, but criticize it as a decade overdue SINGAPORE (Reuters) -- The Asian Development Bank will no longer finance coal mining or oil and natural gas production and exploration, it announced in a draft policy statement on Friday, a move welcomed by environmental groups, which said it was a decade overdue. The multilateral development bank, which focuses on eradicating poverty in Asia, provided no timeline for its commitment. It also laid out conditions under which fossil fuel projects would continue to receive funding, [...]