ADB pursues its strategic priorities for climate change through these modalities:
ADB can help mobilize and channel public funds to its developing member countries (DMCs), facilitating significantly increasing flows of private capital into low-carbon and climate-resilient investments. By 2030, estimated financing needs of the world’s developing countries for climate change mitigation will exceed $100 billion per year, with adaptation costs in the range of $75 billion to $100 billion per year.
Developed countries have pledged fast-track resources of $30 billion from 2010 to 2012, with a further target approaching $100 billion per year by 2020. ADB will scale up its own financing to promote low-carbon and climate-resilient growth, and will help DMCs to access concessional funds that in turn can be used to leverage finance from the private sector.
There is a need to improve region-specific knowledge of the challenges and opportunities that climate change presents. ADB has supported a number of landmark studies in the region, including studies on building climate resilience in the agriculture sector, improving security and reducing the carbon intensity of the energy sector, the economics of climate change, and the potential for climate-induced migration.
Development of operational guidelines for mitigation and adaptation actions will focus on project designs in transport and other key sectors that clearly show the benefits of incorporating climate change considerations into traditional sectors of ADB support.
ADB will continue to work closely with international and bilateral partners, government, the private sector, and civil society to expand their capacities and outreach in achieving their climate change objectives.
ADB's financing partnership facilities serve as platforms for cooperation, the exchange of ideas and information, exploration of new approaches and technologies, and alignment of common strategies toward achieving shared goals. The Clean Energy Financing Partnership Facility (CEFPF) in particular was established to help finance DMCs' transition to low-carbon economies through cost-effective investment in technologies and practices that result in GHG mitigation, without compromising energy security. Other existing financing partnership facilities in ADB that support climate change actions in specific sectors include the Water Financing Partnership Facility, the Urban Financing Partnership Facility, and the Poverty and Environment Fund.
Partnerships with other multilateral development banks, such as through the $6 billion Climate Investment Funds, are increasingly important, as is our growing work with the private sector. Our broadening relationships with civil society organizations provide us with indispensable perspectives from the ground.