In May, the Asian Development Bank (ADB) published the draft of its new energy policy, a big step, given its clout over energy systems in Asia and the Pacific. The document pledges a new era in the multilateral bank’s financing approach. But despite major improvements on coal, there remains a long way to go. Maria Pastukhova looks at the small print. The shift in ABD’s approach to financing is a major development for the future of energy systems in Asia and the Pacific, as the ADB is arguably one of the most influential development banks, both given its size and the traditional focus on the energy sector. It is the third-largest multilateral development bank (MDB) after the European Investment Bank and the World Bank Group’s International Bank for Reconstruction and Development, and the largest among regional MDBs with the annual disbursement of $16.4 billion in 2019. Energy is the second largest sector of ADB financing after transport, with $42.5 billion being  approved in 2009–2019. The bank’s largest recipients are countries whose energy transformation will, to … Continue reading The Asian Development Bank’s new energy policy: A work in progress