Asian Development Bank

Rockefeller Foundation Outlines 4 Ways to Scale JETPs

Retrieved on: 
Thursday, February 15, 2024

NEW YORK, Feb. 15, 2024 /PRNewswire/ -- The Rockefeller Foundation released a roadmap to make Just Energy Transition Partnerships (JETPs) a more effective vehicle for transforming energy systems in low- and middle-income countries. "Scaling the JETP model – prospects and pathways for action" details lessons learned from the first wave of JETPs, identifies roadblocks to the current model, and proposes pathways to scaling JETPs in ways that benefit vulnerable communities. Specifically, The Rockefeller Foundation recommends piloting a new approach to JETPs in a country such as the Philippines, developing a more effective on-ramp for the next wave of interested countries, elevating the role of Multilateral Development Banks (MDBs) in the process, and broadening and deepening support from donor countries.

Key Points: 
  • NEW YORK, Feb. 15, 2024 /PRNewswire/ -- The Rockefeller Foundation released a roadmap to make Just Energy Transition Partnerships (JETPs) a more effective vehicle for transforming energy systems in low- and middle-income countries. "
  • Scaling the JETP model – prospects and pathways for action " details lessons learned from the first wave of JETPs, identifies roadblocks to the current model, and proposes pathways to scaling JETPs in ways that benefit vulnerable communities.
  • While JETPs are a political and financial innovation, the process to date has been slow, and the financing has failed to flow as quickly or at the scale initially promised.
  • Since 2022, The Rockefeller Foundation has collaborated with Climate Smart Ventures (CSV) to assess a possible JETP in the country.

Indonesia Compact Construction Equipment Market Assessment & Forecast Report 2023-2029 - ResearchAndMarkets.com

Retrieved on: 
Wednesday, February 7, 2024

The "Indonesia Compact Construction Equipment Market - Strategic Assessment & Forecast 2023-2029" report has been added to ResearchAndMarkets.com's offering.

Key Points: 
  • The "Indonesia Compact Construction Equipment Market - Strategic Assessment & Forecast 2023-2029" report has been added to ResearchAndMarkets.com's offering.
  • The compact excavator accounted for the largest market share of the Indonesia compact construction equipment market in 2022.
  • The increasing government focus on carbon emission reduction in 2021 further supported the demand for electric construction equipment in the Indonesia compact construction equipment market.
  • In 2021, Volvo Construction Equipment launched EC55D compact excavators in the Indonesia compact construction equipment industry for innovative city projects.

BII and ADB Trade and Supply Chain Finance Program sign $100m risk sharing agreement to promote green trade in Asia, including Vietnam

Retrieved on: 
Thursday, January 18, 2024

Andrew Mitchell, UK Minister for Development and Africa, said: "This agreement between BII and the Asian Development Bank will unlock crucial green trade finance in Asia.

Key Points: 
  • Andrew Mitchell, UK Minister for Development and Africa, said: "This agreement between BII and the Asian Development Bank will unlock crucial green trade finance in Asia.
  • Green trade finance enables supply chain development of the renewable energy industry and tackles the bottleneck for much needed long tenor financing in the region.
  • The BII-ADB Green Trade Finance Facility supports SDG 7 on Affordable and Clean Energy and SDG 13 on Climate Action.
  • The transaction is led by Freddie Tucker, Investment Director, Trade and Supply Chain Finance at BII.

ReNew Signs MoU with Asian Development Bank for US$ 5.3 billion

Retrieved on: 
Monday, December 4, 2023

ReNew Energy Global Plc ("ReNew") (Nasdaq: RNW, RNWWW), India’s leading renewable energy company and a preferred decarbonization partner, on Sunday signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to collaborate on climate change mitigation and adaptation projects.

Key Points: 
  • ReNew Energy Global Plc ("ReNew") (Nasdaq: RNW, RNWWW), India’s leading renewable energy company and a preferred decarbonization partner, on Sunday signed a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB) to collaborate on climate change mitigation and adaptation projects.
  • The MoU covers projects with an investment value of more than US$ 5.3 billion between 2023 and 2028.
  • The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman & CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB.
  • The company has already invested around $8 billion in the clean energy space and the MoU will enable ReNew to raise further funding for renewable energy projects.

Impact Disclosure Taskforce Created to Scale Financing of the United Nations Sustainable Development Goals

Retrieved on: 
Tuesday, November 28, 2023

The Taskforce also intends to explore mechanisms for disseminating and analyzing this entity-level impact information to promote transparency and accountability.

Key Points: 
  • The Taskforce also intends to explore mechanisms for disseminating and analyzing this entity-level impact information to promote transparency and accountability.
  • The Taskforce also obtains input from public development banks including the Asian Development Bank (ADB), the French Agency for Development (AFD), and the United States International Development Finance Corporation (DFC), as well as from the Global Impact Investing Network (GIIN), members of the Global Investors for Sustainable Development Alliance (GISD), and Linklaters.
  • Collaborating to provide suggested guidance on standardized impact metrics for development finance will allow entities to more clearly communicate their contribution towards the SDGs.
  • We are working to support greater impact disclosures and ultimately attract more sustainable finance capital to emerging markets and developing countries.”

01Fintech Invests US$20 Million in Validus to Drive SME Financing in the Southeast Asia Region

Retrieved on: 
Thursday, December 14, 2023

SINGAPORE, Dec. 13, 2023 /PRNewswire/ -- 01Fintech, a growth stage private equity firm founded by former Ant-Group executive and specialising in financial technology in Southeast Asia, today announced a significant US$20-million investment in Validus, a market-leading small-and-medium-enterprises (SME) supply-chain financing platform with operations in Indonesia, Singapore, Thailand and Vietnam.

Key Points: 
  • 01Fintech recognizes the tremendous potential of Validus' unique approach to SME financing which has led to its rapid growth and partnerships with the world's largest financial institutions such as Citibank and other major global banks.
  • Since its inception in 2015, Validus has disbursed more than US$3 billion[1] in loans to small businesses across Southeast Asia.
  • Southeast Asia represents a tremendous US$490 billion SME financing gap opportunity for specialized digital lenders with strong credit assessment capabilities.
  • With the support of 01Fintech, we aim to cement our leadership as the number one digital SME financing company in the region.

Habitat for Humanity helped more than 13.4 million people build or improve a place to call home during past year

Retrieved on: 
Wednesday, December 6, 2023

ATLANTA, Dec. 6, 2023 /PRNewswire/ -- A safe, affordable, and decent place to live often means improved health outcomes, employment and education, and in the face of a warming planet, housing can also be part of the fight against climate change. 

Key Points: 
  • Mayra Carolina and her mother, Maira, partnered with Habitat El Salvador to build their energy-efficient home in La Palma, which they moved into in February 2023.
  • Their story is highlighted in Habitat for Humanity International's fiscal year 2023 annual report , released today by the global housing nonprofit.
  • In 2023, Habitat for Humanity helped 13.4 million people build or improve a place to call home.
  • An additional 9.5 million people gained the potential to improve their housing conditions through training programs and advocacy work driven by Habitat in local communities.

10+ Countries Join First-of-Its-Kind Consortium to Deploy 5 GW of Battery Energy Storage Systems

Retrieved on: 
Saturday, December 2, 2023

Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.

Key Points: 
  • Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.
  • In order to achieve the estimated 400 GW of renewable energy needed to alleviate energy poverty by 2030 and save a gigaton of CO2, 90 GW of storage capacity must be developed.
  • Battery Storage Systems are a critical element to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development.
  • The BESS Consortium is a multi-stakeholder partnership set up to ensure these BESS benefits transform energy systems across low- and middle-income countries (LMICs).

10+ Countries Join First-of-Its-Kind Consortium to Deploy 5 GW of Battery Energy Storage Systems

Retrieved on: 
Saturday, December 2, 2023

Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.

Key Points: 
  • Through the BESS Consortium, these first-mover countries are part of a collaborative effort to secure 5 gigawatts (GW) of BESS commitments by the end of 2024.
  • In order to achieve the estimated 400 GW of renewable energy needed to alleviate energy poverty by 2030 and save a gigaton of CO2, 90 GW of storage capacity must be developed.
  • Battery Storage Systems are a critical element to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development.
  • The BESS Consortium is a multi-stakeholder partnership set up to ensure these BESS benefits transform energy systems across low- and middle-income countries (LMICs).

His Highness Sheikh Mohamed Bin Zayed Al Nahyan and His Majesty King Charles III Open Inaugural Business & Philanthropy Climate Forum

Retrieved on: 
Friday, December 1, 2023

DUBAI, United Arab Emirates, Dec. 1, 2023 /PRNewswire/ -- For the first time at the United Nations Framework Convention on Climate Change's (UNFCCC) Conference of the Parties (COP), the COP28 Presidency of the United Arab Emirates has launched the inaugural COP28 Business and Philanthropy Climate Forum, convening more than 1,000 CEOs and philanthropists from over 80 countries. The Forum is being held alongside the World Climate Action Summit.

Key Points: 
  • The Forum launched on November 30 with a high-level reception, which was hosted by the COP28 Presidency and the Sustainable Markets Initiative, in the presence of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and His Majesty King Charles III.
  • With the objective of moving beyond commitments, the COP28 Business and Philanthropy Climate Forum will showcase global industry-by-industry delivery together with opportunities to accelerate, replicate, and scale, particularly in the Global South.
  • Private sector actors will join heads of state and government to focus on showcasing private sector progress and joint delivery.
  • To deliver, the COP28 Business and Philanthropy Climate Forum commits to:
    Supporting an annual Business and Philanthropy Climate Forum alongside the world leaders' summit at every UNFCCC COP until at least 2030.