The Asian Development Bank and other foreign funding agencies contribute to climate change by funding outdated coal plants in Asia, Greenpeace said.
It said they must find clean sources of energy in countries where massive growth and development are expected to take place in the next 10 to 15 years.
The Asian Development Bank (ADB) and other funding agencies must commit 20 per cent of their funding projects to clean sources of power, said Athena Ronquillo of Greenpeace International.
The ADB, the World Bank (WB), the Japanese International Bank for International Cooperation (JBIC) and Export Credit Agencies (ECAs) are still supporting coal-led growths.
This indirectly supports Australia, a coal exporter, and Japan, a major ADB fund contributor, said Ronquillo.
Australia has refused to join the Kyoto Protocol where environmentalists have campaigned for an end to greenhouse emissions. Japan is a campaign signatory.
"Right now, the ADB diverts less than 0.1 per cent of its lending target to renewable energy. Of ADB's portfolio on energy from 1966-2004, only 1.82 per cent went to the funding of renewable energy and energy efficiency," said Red Constantino of Greenpeace Southeast Asia.
"This must change. The funding agencies must stop fuelling climate change. They must save the world and start financing cleaner sources of energy which are plenty in Asia where the next growth area is," said Ronquillo.
Wind-power potential in the Philippines can produce seven times over the country's current energy demand.
China's Guangdong province has wind-power potential that can meet the current energy supply of Hong Kong, Greenpeace said.
To dramatise the campaign, activists dressed as human smokestacks blocked ADB's exit gate in Metro Manila's suburban Mandaluyong last week.
With inputs from Jose Reinares, correspondent
