The Asian Development Bank has officially informed Pakistan that it would purchase coal-powered energy projects and in return provide clean energy under Energy Transition Mechanism (ETM).
ADB informed the climate change ministry that it will start preparing a feasibility report at the end of this month and it would be completed in the next three months.
The Asian Development Bank has granted funds for a feasibility study to identify coal-powered project that will be purchased in the following months. Pakistan’s efforts to protect wildlife have been recognized at the international level, which is a tremendous success.
Pakistan is one of three countries in the world where the ADB will buy coal-fired power plants and replace them with clean energy to help safeguard the environment. The Philippines and Indonesia are the other two.
The Asian Development Bank believes that Asia and the Pacific can only achieve its climate goals if it undertakes a rapid transition away from coal-based energy.