26.3 C
Wednesday, August 4, 2021

Fossil Fuel-Free Asia Gets A Dragon Dance

The World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank invest in fossil fuel in the 10 Asian countries with belongs to the Climate Vulnerable Forum.

Must read

George Buid
George Buidhttp://www.georgebuid.com/
An independent photojournalist of the Philippines capturing life as it passes by. He contributes to different news outlet and press publications.

PHILIPPINES. Manila: Fossil fuel dominates the list of contributors to air pollution in the world. It powers our vehicles, cooks our food, and provides electricity, but it can cause health problems and the greenhouse effect. Yet, an enormous amount of investments poured into industries using fossil fuel.

The sun is about to set covered with thick dark clouds over factory area in 2018 at Laguna de Bay. Photo Credit: George Buid

Three of the world’s largest banks are responsible for investing around $5 billion in fossil fuel. In 2018, Oxfam reported that World Bank, Asian Development Bank, and Asian Infrastructure Investment Bank invest in the 10 Asian countries with fossil fuel belonging to the Climate Vulnerable Forum. In the Climate Home News report in November 2020, Asian Development Bank and Asian Infrastructure Investment Bank have opposed signing a commitment to phase out coal financing.

Advocates call for a clean environment in Asia this Lunar Year

- Advertisement -

Developed Asian countries have pledged to commit against fossil fuel finance. In November 2020, Greenpeace reported that China, Japan, and South Korea have pledged to net-zero fossil fuel activities overseas and locally. Therefore, the Asian Peoples’ Movement on Debt and Development (APMDD) calls for a firm commitment from other Asian countries to stop using them.

AMPDD and other advocates call out for the end of coal and fossil fuel financing. Photo Credit: George Buid

Lidy Nacpil, Coordinator of APMDD, shares her statement on why they held a protest on February 7. She said, “We now suffer from devastating effects of climate change, and will become much worse if the world does not take an urgent ambitious action far beyond the current pledges of the governments. Therefore, we call the Asian countries to commit to a swift and just transition from fossil fuels to 100 percent renewable energy for people and communities in celebrating the Lunar New Year this decade.”

- Advertisement -

Mayor Francisco ‘Isko Moreno’ Domagoso of Manila City has canceled all Chinese New Year activities from February 11 to February 17 along with other holidays and celebrations due to the COVID-19 pandemic. APMDD and other advocacy groups have gathered at the New Chinatown Arch to protest fossil fuel financing.

A dragon dance in front of the protesters at Chinatown Arch on February 7. Photo Credit: George Buid

Oriang and Sanlakas are among the environmental advocates gathered in the protest with Asian Peoples’ Movement on Debt and Development. A dragon dance leads the protesters, just before the Chinese New Year that is on February 12. The protestors have also asked China to take decisive steps and urged US President Joe Biden to fulfill his climate pledge to take action against fossil fuel.

Support our mission of Independent Journalism on Patreon!
- Advertisement -

More articles


  1. […] anticipate that the consumption of diesel in India will continue to grow and the door-to-door fuel market will be worth around 2,000 crores in the FY […]

- Advertisement -

Latest article

Support our mission of Independent Journalism on Patreon!