The Asian Development Bank’s (ADB) private sector operations in 2022 saw project commitments reach $1.1 billion with the percentage of projects receiving climate finance double the level of 2021, according to ADB’s Private Sector Operations in 2022 – Report on Development Effectiveness.
The Private Sector Operations—Report on Development Effectiveness series reviews the development effectiveness of operations carried out by the Asian Development Bank Private Sector Operations Department.
ADB has announced the Innovative Finance Facility for Climate in Asia and the Pacific (IF-CAP), a landmark program which could significantly ramp up support for the region in the battle against climate change.
As Asia and the Pacific’s climate bank, ADB is taking a leading role in developing more innovative climate financing solutions to help the region combat climate change.
We work with governments and civil society to mobilize financing and implement cutting-edge knowledge.
ADB President Masatsugu Asakawa on:
"The climate crisis is worsening daily, prompting many to call for increased climate finance. We are taking action to meet this call by elevating our ambition to $100 billion in cumulative climate finance from our own resources by 2030."
"ADB is joining the Governments of Indonesia and the Philippines to formally launch a partnership to pilot ETM in Southeast Asia. Once it is scaled up, ETM has the potential to be the largest carbon reduction model in the world."
"The platform brings together partners to invest alongside ADB’s own financing. With pledges of $665 million from the UK government, the Green Climate Fund, the European Union, and Cassa Depositi e Prestiti, the Green Recovery Platform will de-risk investments and catalyze $7 billion in public and private capital for green infrastructure projects."
"ADB Ventures is promoting investment in innovative, venture-stage solutions, unlocking our region’s enormous potential to scale technology for climate impact."
ADB has approved a new energy policy to support universal access to reliable and affordable energy services, while promoting the low-carbon transition in Asia and the Pacific.
A market-based, equitable, and scalable way of accelerating the retirement of coal-fired power plants, while also jumpstarting the growth of renewable energy capacity.
ADB recognizes that investments in ocean health and blue economies are critical to strengthen resilience, improve food security, protect cultural heritage, and catalyze economic transformation in Asia and the Pacific.
ADB Ventures was launched in 2020 and since financed over 30 early-stage companies offering bold technology solutions that generate climate mitigation and adaptation impact. ADB will soon launch a new climate technology debt fund targeting market-rate returns to impact investors.
Special Senior Advisor (Climate Change)
Chief of Climate Change and Disaster Risk Management Thematic Group concurrently Director
Chief of Energy Sector Group