Recourse

2 years ago, AIIB committed to align with global climate goals

To support truly sustainable "infrastructure for tomorrow", it must close loopholes for #FossilGas and focus on supporting reliable, renewable energy systems for people🎐

Read more in our blog: bit.ly/AIIBi4t

#AIIB #ClimateFinance

🌏 Floating LNG pipelines, gas extraction sites & gas power plants across Asia have also been supported by AIIB-backed securities.

❌Gas is not clean or green❌

#FossilGas is a major cause of the climate crisis and a risky bet for developing economies. Yet the AIIB still backs it…

🇧🇷 E.g. oil & gas projects off the coast of Brazil, representing 💲💲💲 millions in investment ➕ causing vast amounts of emissions and local ecosystem damage

AIIB's investments in Bayfront & HKMC infrastructure debt securities enabled these projects to go ahead

#Brazil #COP30 #FossilFuels

We found that oil & gas projects dominate the portfolios of AIIB-supported infrastructure debt securities — much more than renewables projects.

Several of the fossil fuel projects in these portfolios are #CarbonBombs, set to wreak havoc on the climate if exploited 💣💥

AIIB's strategy is to use capital markets to "mobilise finance"

One way is by investing in infrastructure debt securities sponsored by private firms — Bayfront Infrastructure Management & Hong Kong Mortgage Corporation — which re-package and trade loans from other banks.

Explained in flowchart👇

The Asian Infrastructure Investment Bank boasts that its capital markets projects are supporting 'sustainable' infrastructure

But closer scrutiny finds support for fossil fuel projects that put our future at risk

How do these investments work?
How do they endanger people & planet?

An explainer🧵

We are #hiring!

Applications for our part-time Communications Officer position are open until the end of Monday 11th August. ⤵️

#NGOjobs #CommsJobs #ClimateJobs

Of carbon bombs and floating fossil gas pipelines Do the AIIB's capital markets projects really finance sustainable infrastructure? By Marjorie Pamintuan At the Asian Infrastructure Investment Bank (AIIB)'s recent Annual Meeting (24-26 June), much fa...

🟢 The AIIB boasts that its capital markets projects are innovative & sustainable.

🔴 But a closer look finds support for huge fossil fuel projects that put livelihoods, energy security & climate goals at risk.

Learn more in our data blog ⤵️ www.linkedin.com/pulse/carbon... #climate #FossilFuels

Event at the World Bank Group & IMF Spring Meetings 2025, titled: Jobs - The Path to Prosperity. Photo: Tolani Alli / World Bank.

#New in #ObserverSummer25: Banga’s 'new' World Bank vision recycles old myths. The private sector won’t fix development if it deepens debt, weakens states & fails to deliver jobs #BillionsToTrillions #DevelopmentFinance

tinyurl.com/BangaCascade...

🌟 Join our team 🌟

We're looking for a star communicator to work with us on a part-time basis. The role focuses on digital comms, content creation and strategy. It's fully remote and hours can be flexible.

Deadline to apply: Monday 11 August
Details: re-course.org/jobs-at-reco... #NGOjobs

Energy policy review by ADB ‘dangerously short,’ say Asian CSOs | Cai U. Ordinario CIVIL society organizations (CSOs) across Asia have raised concerns that the latest energy policy review of Manila-based multilateral, Asian Development Bank (ADB), may be “dangerously short” and coul...

Concerns raised over @adb.org's “dangerously short” energy policy review

Read 🗞️ bit.ly/3U3RxNK

📣 “This policy will determine the future of ADB’s energy investments for the next decade—yet the Bank is sidelining the very communities most impacted by its projects” —Rayyan Hassan, NGO Forum on ADB

🌟 Join our team 🌟

We're looking for a star communicator to work with us on a part-time basis. The role focuses on digital comms, content creation and strategy. It's fully remote and hours can be flexible.

Deadline to apply: Monday 11 August
Details: re-course.org/jobs-at-reco... #NGOjobs

The #JETPs are faltering. Development banks could help revive the #JustEnergyTransition Partnerships by increasing their share of grants, avoiding more privatisation, and working for and with communities.

Opinion by @freddiedaley.bsky.social @charlielawrie.bsky.social👇

Full research👉 bit.ly/JETP25

💔 Extreme weather is intensifying.

⚡ Food and energy costs are rising.

😞 Environmental and human rights defenders are facing crackdowns.

❌ While billionaires profit and prop up industries polluting our land, air and water.

📢 This September, join us to #DrawTheLine.

💚 Sign up: drawtheline.world

The #IMF 'core' mandate of macroeconomic stability cannot ignore #climate #gender #inequality

“The IMF must ensure its fiscal, financial, monetary and exchange rate policy advice allows countries to fulfil targets under the Paris Agreement,” argues @federicosibaja.bsky.social @re-course.org

The IMF’s upcoming surveillance review The Review takes place in a global context in which it is more pressing than ever to ensure that countries have the ability to take real action on climate change and rising social inequality.

#IMF surveillance—the annual macro-economic health check required of its member countries—is under review this year

Civil society groups call on the IMF to learn lessons from its past failures

Read the article @brettonwoodsproject.org #ObserverSummer25 ➡️ www.brettonwoodsproject.org/2025/07/the-...

Without an accountability mechanism that is fit for purpose, the AIIB will simply continue evading accountability for harming frontline communities.

🗞️ Details + more reactions from civil society groups 👇
re-course.org/newsupdates/...

@rightsindevt.bsky.social #AIIBAccountabilityNow #AIIBandCSOs

“The policy may not be reviewed again for a long time. This would mean that its major accessibility and effectiveness gaps may be locked in and the ability to hold #AIIB accountable for harms caused by its financing will remain a pipe dream.”

📣 Radhika Goyal, Accountability Counsel

#AIIBandCSOs

“The AIIB is shooting itself in the foot by blocking its option of triggering an investigation by the
PPM.
Self-initiating complaints can be a valuable tool, which many other mechanisms use. What is the AIIB so scared of hearing?”

📣Kate Geary @re-course.org

#AIIBPeopleOverProjects

“The overall scope of the PPM remains woefully narrow with billions of dollars still outside its purview.
This signals the lack of real commitment from the #AIIB for an accountability mechanism which is pro-people and planet.”

📣 Rayyan Hassan, NGO Forum on ADB

#AIIBAccountabilityNow

“Although the PPM review process is to be commended and has resulted in several positive changes, some important recommendations have not been considered. It is hoped that they will be taken into account in the next consultations.”

📣 Dr. Zeinab Bashir El Bakri, external reviewer
#AIIBandCSOs

After 6 years of operating, the bank's accountability mechanism—the PPM, where communities harmed by AIIB projects can file complaints and seek redress—has yet to accept a complaint.

An external reviewer and several experts recommended sweeping changes, many of which go ignored in the latest draft.

🗞️ NEWS: Experts in rights and public accountability have hit out at the Asian Infrastructure Investment Bank for failing to meet international standards in its latest accountability policy.

Read: re-course.org/newsupdates/... #AIIBAccountabilityNow

Reactions from experts and organisations👇🧵

US Treasury sued for gaps in IFC’s climate disclosure International Finance Corp does not release assessments of whether lower-carbon alternative projects would be viable

🌍 BREAKING: US Treasury sued over the World Bank Group's climate disclosure failures

📄 Legal organisation Bank Climate Advocates demands the release of key climate due diligence documents used by the International Finance Corporation (IFC)

READ: www.globalcapital.com/article/2f1s... #ClimateCase

Summer 2025 - Bretton Woods Project This edition covers the Jubilee Year 2025 and calls at FfD4 to break the cycle of debt, IMF's Surveillance review, IDA21 package, Argentina, Sri Lanka and the IMF, and more.

Our new #ObserverSummer25 is out now🚀

This edition covers civil society demands of unconditional debt relief in #Jubilee2025, IMF's upcoming surveillance review, World Bank's billions to trillions 'fantasy', Sri Lanka, Argentina & the IMF, #FFD4, and more 🔥👇

tinyurl.com/ObserverSumm...

TODAY ⏰

Don't miss our webinar on the #IMF and #climate ⤵️

LAUNCH EVENT: A Civil Society Guide to the #IMF and #ClimateJustice

Join us to learn more about the IMF's role in the debt-climate nexus and what you can do to influence it

📅 Monday 21st July
🕒 15:00–16:30 CEST

🔗 Register here: events.teams.microsoft.com/event/13a766... #debtjustice #IMF #climate

Bankwatch magazine latest edition, out now!

Published by NGO Forum on ADB, this magazine takes a critical look at Asia-based development banks.

This edition covers
👩🏾gender justice & the AIIB
⚡fossil gas & the ADB
🌊impacts in Philippines, Bangladesh, and more

Read it here: forum-adb.org/bankwatch

Seizing the Jubilee moment: Cancel the debt to unlock Africa's clean energy future Africa has the resources and the vision for a just energy transition, but it is trapped in a financial system structured to take more than it gives. In this blog, we outline how debt burdens and clima...

As the World Bank, the IMF & other MDBs and governments meet in Seville for #FFD4Sevilla, @re-course.org urges them to heed people's calls for reform: cancel the debt, redistribute the wealth and fund the just transition.

#CancelTheDebt #JustTransition

www.linkedin.com/pulse/seizin...

Photo of an oil pump in Vaca Muerta Argentina with Andes mountains in the background. White text overlaid "World Bank Group guarantees — not the solution for sustainable development."

World Bank Group guarantees — not the solution for #SustainableDevelopment ⚠️

Loopholes in the Group's policies allow its guarantee clients to finance #FossilFuels in climate-vulnerable countries

Public money should be spent for people, not handed to private banks ✋

bit.ly/MIGA25 #FfD4 #WorldBank