Climate, Energy, and Sustainability
Asia and the Pacific's
Climate Bank
ADB is scaling up climate finance and introducing innovative solutions to cut greenhouse gas emissions and invest in climate adaptation in the region.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.
Established in 1966, it is owned by 68 members—49 from the region.
ORGANIZATION
ACCOUNTABILITY
ADB supports projects in developing member countries that create economic and development impact, delivered through both public and private sector operations, advisory services, and knowledge support.
In the Spotlight
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ADB Commits Record Climate Finance of Almost $10 Billion in 2023
ADB committed a record amount of climate finance in 2023 to help its developing member countries in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet.
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Climate Change Action Plan, 2023–2030
This Climate Change Action Plan operationalizes ADB's commitment and ambition to support the transition to a low-carbon and climate-resilient future in line with the Paris Agreement.
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How Glacial Melt Affects Water Across Asia
Glaciers in the Hindu Kush Himalayas feed major rivers across Asia, but they are melting rapidly due to climate change. This could bring a future of water stress, frequent hazards, biodiversity loss, and food insecurity.
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IF-CAP: Innovative Finance Facility for Climate in Asia and the Pacific
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.
Asia and the Pacific is the Frontline in the Battle Against Climate Change
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Asia and the Pacific is currently responsible for over 50% of global carbon dioxide emissions.
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Global energy-related CO2 emissions are predicted to grow as demand for coal, oil, and gas rebounds. More than 80% of the projected growth in coal demand will be from Asia.
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The region is also facing the destructive effects of climate change, from extreme weather conditions and prolonged drought...
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...to severe urban flooding.
From 1991 to 2020, disasters in Asia and the Pacific, including from climate change impacts, affected over
5 billion people and incurred physical losses of over $1.5 trillion. -
Over 60% of Asia and the Pacific's population work in sectors most at-risk from climate change impacts.
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64 million Asians will be pushed into poverty for every 10% rise in food prices due to climate change.
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Climate-related risks will increase as global mean temperature rises. Limiting climate change requires limiting greenhouse gas emissions.
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The battle against climate change will be won or lost in Asia and the Pacific.
Key Figures in the Fight against Climate Change
1.5° Celsius
Paris Agreement Goal Is to Limit Global Warming to Well Below 2°C, Pursuing Efforts to Below 1.5°C,
Compared to Pre-Industrial Levels
55% of the World
Committed to Meet
Paris Agreement Target
$100 billion / year
Commitment by Developed Countries
for Climate Finance by 2020
$140-300 billion / year
Global Estimates for Adaptation
Financing by 2030
75% of ADB Operations
Supporting Climate Action
by 2030
Net 0
Global Greenhouse Gas Emissions
by 2050
ADB is Asia and the Pacific's Climate Bank
We work with governments and civil society to mobilize financing and implement cutting-edge knowledge.
ADB is the FIRST Multilateral Development Bank (MDB) to:
- Set clear climate investment targets for 2030: ADB first committed in 2015 to increase its climate investments up to $6 billion annually by 2020—a target it met in 2019.
- Implement a long-term climate change operational framework
- Establish a climate risk screening and management framework for its operations
- Disclose project-level data for all its climate projects
- Be accredited by the Green Climate Fund
New Ideas, New Resources
ADB President Masatsugu Asakawa on:
ADB's climate finance ambition
"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."
Energy Transition Mechanism (ETM) partnership
"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."
ASEAN Green Recovery Platform support
"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 climate technology funds
"ADB Ventures is promoting investment in innovative, venture-stage solutions, unlocking our region’s enormous potential to scale technology for climate impact."
ADB is Bringing New Ideas and Significant Solutions
- We invest in building resilient and empowered communities, cleaner technology, and smart infrastructure.
- We enable access to new and innovative cofinancing opportunities with public and private partners and mobilize concessional financing from global funds, including through carbon markets.
- We are strengthening the capacities of our developing member countries to achieve their Nationally Determined Contributions (NDCs) and address climate change by establishing platforms such as NDC Advance and the Article 6 Support Facility.
- We are expanding partnerships by promoting dialogue and collaboration among diverse partners and stakeholders.
ADB Projects with Climate Financing, 2023
In 2023, ADB committed $10,746.56 million in climate finance. Of this total, $6,168.50 million is expected to contribute to climate change mitigation and $4,578.06 million to climate change adaptation.
Strategy 2030 and Climate Change
ADB's Strategy 2030 sets seven operational priorities (OP), each having its own operational plan. The operational plans contribute to ADB’s vision to achieve prosperity, inclusion, resilience, and sustainability, and are closely aligned with Strategy 2030 principles and approaches.
OP 3: Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability
Thirteen of the seventeen Sustainable Development Goals are relevant to or will be impacted by actions on climate change, climate and disaster resilience, and the environment.
Strategic Operational Priorities
- Mitigation of climate change increased
- Climate and disaster resilience built
- Environmental sustainability enhanced
OP Results Delivered in 2023 Source: 2023 Development Effectiveness Review
3.1: Total annual greenhouse gas emissions reduction (tCO2e/year)
27.23 Million
93% Achievement Rate
3.2: People with strengthened climate and disaster resilience (number)
3.71 Million
96+% Achievement Rate
3.3: People benefiting from strengthened environmental sustainability (number)
14.18 Million
100+% Achievement Rate
3.1: Total annual greenhouse gas emissions reduction (tCO2e/year)
29.6 Million
87% Achievement Rate
3.2: People with strengthened climate and disaster resilience (number)
270,000
100+% Achievement Rate
3.3: People benefiting from strengthened environmental sustainability (number)
4.3 Million
100+% Achievement Rate
3.1: Total annual greenhouse gas emissions reduction (tCO2e/year)
17.807 Million
100+% Achievement Rate
3.2: People with strengthened climate and disaster resilience (number)
763,000
100% Achievement Rate
3.3: People benefiting from strengthened environmental sustainability (number)
3.597 Million
100+% Achievement Rate
3.1: Total annual greenhouse gas emissions reduction (tCO2e/year)
19.325 Million
100+% Achievement Rate
3.1.1: Additional climate finance mobilized ($)
1.526 Billion
3.1.2: People with increased capacity in implementing mitigation and low-carbon development actions (number)
1,300
3.1.3: Low-carbon infrastructure assets established or improved (number)
100
3.1.4: Installed renewable energy capacity (megawatts)
5,000
3.1.5: Low-carbon solutions promoted and implemented (number)
13
3.2: People with strengthened climate and disaster resilience (number)
561,000
100+% Achievement Rate
3.2.1: Area with reduced flood-risk (hectares)
244,000
3.2.2: Gender-inclusive climate and disaster resilience capacity development initiatives implemented (number)
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3.2.3: Financial preparedness instruments provided (number)
1
3.2.4: National and subnational disaster risk reduction and/or managment plans supported in implementation (number)
11
3.2.5: New and existing infrastructure assets made climate and disaster resillient (number)
86
3.3: People benefiting from strengthened environmental sustainability (number)
3.127 Million
88% Achievement Rate
3.3.1: Pollution control-enhancing infrastructure assets established or improved (number)
16
3.3.2: Solutions to enhance pollution control and resource efficiency implemented (number)
9
3.3.3: Terrestrial, coastal, and marine areas conserved, restored, and/or enhanced (hecates)
54,000
3.3.4: Solutions to conserve, restore, andor enhance terrestrial, coastal, and marine areas implemented (number)
8
3.3.5: Sustainable water-food-energy security nexus solutions implemented (number)
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3.1: Total annual greenhouse gas emissions reduction (tCO2e/year)
12.8 Million
3.2: People with strengthened climate and disaster resilience (number)
3.2 million
3.3: People benefiting from strengthened environmental sustainability (number)
5.1 Million
Policies and Initiatives
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Energy Policy
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.
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Energy Transition Mechanism (ETM)
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.
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Healthy Oceans and Sustainable Blue Economies
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.
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ADB Ventures Climate Technology Funds
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.
Key ADB Resources on Climate Change
Echoes of Success: Case Studies in the Replication of Asian Development Bank Projects in the People's Republic of China
This publication looks at five projects in the People's Republic of China (PRC) to illustrate how effective solutions to environmental and social problems can be applied in different contexts.
Proposed Life Cycle Approach for Promoting Climate Resilience and Carbon Neutrality: Case of the Road Subsector in Tajikistan
This paper explores the possibility of promoting climate resilience and carbon neutrality throughout the life cycle of road infrastructure in Tajikistan.
Preparing Outer Islands for Sustainable Energy Development: Maldives’ Experience in Deploying Advanced Hybrid Renewable Energy Systems
This report shows how Maldives can switch to hybrid renewable mini-grid energy systems to reduce its heavy dependency on imported fossil fuel, slice emissions, and support sustainable and inclusive growth.
Exploring the Economic and Noneconomic Determinants of Investments in Renewable Energy
This paper explores the determinants of renewable energy investments along with other economic and noneconomic variables in both developed and developing economies.
Climate Risk Country Profiles
Published jointly by ADB and the World Bank Group, this series aims to provide development practitioners with easy-to-use technical resources to facilitate upstream country diagnostics, policy dialogue, and strategic planning.
The reports outline rapid onset and long-term changes in key climate parameters, as well as the impact of these changes on communities, livelihoods, and economies—many of which are already underway.
Perspectives on Climate Change and Clean Energy
Development Asia | 18 Sep 2024Using Data to Safeguard Vulnerable Communities from Climate Risks
Asian Development Blog | 13 Sep 2024Freezing the Impact: Tackling Glacial Melt with Resilient Solutions
Development Asia | 12 Sep 2024Pivoting Toward Sustainable Urbanization in Pakistan
Asian Development Blog | 16 Aug 2024Four Ways to Align National Trade Strategies with Climate Actions
Experts
News and Multimedia
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| News Releases, News Release
Climate Finance by Multilateral Development Banks Hits Record in 2023
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| News from Country Offices
ADB Supports Climate and Disaster Resilience in Vanuatu
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| News Releases, News Release
Climate Change Response in Asia and Pacific Held Back by Insufficient Data
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| News from Country Offices
ADB Invests $100 Million in Fourth Partner Energy to Support Decarbonization of India’s Commercial and Industrial Sector
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| News Releases, News from Country Offices
ADB, University of Chicago to Promote Innovations to Reduce Climate Change Impacts
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| News Releases, News from Country Offices
$50 Million ADB Grant to Support Climate-Friendly Business Environment in Tajikistan
Video | 25 Sep 2024Asian Impact Webinar 79: Key Indicators for Asia and the Pacific 2024 Launch
Video | 13 Sep 2024How Water is Powering Communities in the Hindu Kush Himalayas
Video | 22 Aug 2024Key Indicators for Asia and the Pacific 2024
Video | 13 Aug 2024Shifting to Sustainable Heating in Kazakhstan