In December 2024, the Asian Development Bank (ADB) Governing body approved the Framework to Enhance Social and Environmental Protections that effectively places a ban on the use of asbestos in its future funded projects from January 2026.
In 2022, the ADB published the Good Practice Guidance for the Management and Control of Asbestos: Protecting Workplaces and Communities from Asbestos Exposure Risks which provides guidance on the duties of employers and contractors in minimizing risks from asbestos; training requirements; and the identification, containment, safe removal, and management of asbestos waste.
To complement this, the Asian Infrastructure and Investment Bank (AIIB) issued their Environmental and Social framework policy where they state on the exclusion list that:
‘The Bank will not knowingly finance projects involving ….. (9) Production of, trade in, or use of asbestos fibers, whether or not bonded.’
The E&S Framework qualifies this by saying, in special circumstances, the Bank may agree with the Client on a reasonable transition period, provided that the asbestos content of the materials being used is less than 20 percent.