“What the people of Asia need is a rapid, direct, equitable and just transition to 100% renewable energy systems. And the delivery of non debt creating climate finance to make this happen. Carbon capture usage and storage and hydrogen schemes, distract from real solutions to the climate crisis. Loan financing of these schemes also exacerbate debt burdens said Lidy Nacpil, coordinator of Asian Peoples’ Movement on Debt and Development (APMDD).
(Nacpil added that) building CCUS infrastructure alongside existing fossil fuel facilities runss counter to a swift phase out of dependency on coal, oil and gas. Efforts to blend a small amount of hydrogen into the gas grid or in power plants also doesn’t serve to reduce emissions. This will instead lock the region to fossil fuel energy for decades to come.