ADB urged to fund renewable energy

Saturday May 6 2006

HYDERABAD: Solar Generation, a wing of Greenpeace International, an international group of young adults campaigning to fight climate change through the adoption of renewable energy and launched Y-RED! an international Youth Renewable Energy Declaration in the City on Friday.

Y-RED is a declaration in which the reasons for climate change, the ways to fight climate change and how ADB is contributing to climate change and what ADB must do to fight climate change by supporting renewable energy has been presented.

“Our declaration calls for ADB delegates to choose renewable energy over obsolete fossil fuel (coal, oil and natural gas) technology.

We demand ADB stop funding coal projects, set concrete targets for renewable energy projects and lead our generation into a 100 per cent renewable future,” said Nakul Krishna, a Solar Generation India member.

The Y-RED declaration has been made coinciding with ongoing 39th Annual ADB meet to protest against the ADB’s funding for fossil fuel (coal, oil and natural gas) projects and for neglecting renewable energy. Manisha Bhanot, a degree student of Aurora College and a member of Solar Generation, said that ADB has made only cursory investments in renewable energy.

In 2003, for example only one out of eight energy projects funded by ADB utilised some form of renewable energy. In sharp contrast ADB has approved nine fossil fuel projects between 2000 and 2006, continuing to fund power at great cost to our environment.

The Y-RED declaration which held ADB responsible for climate change through its funding demanded the ADB to stop further funding for coal, oil and natural gas energy plants and fund at at least one iconic renewable energy project in the Asia-Pacific region.

A documentary film depicting the ill effects of climate change in Orissa was also screened at the launch of Y-Red at FAPCCI, Lakdikapul. The Greenpeace activists based at Bangalore made the film.

The film depicts how thermal plant in the Orissa region is bringing a climate change and affecting the lives of people there.