Tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability is a priority of in ADB's Strategy 2030. ADB has made a commitment to deliver $80 billion in climate finance cumulatively between 2019 and 2030, and will ensure that at least 75% of its projects will address climate change mitigation and adaptation by 2030. Despite the challenges posed by the COVID-19 pandemic in 2020 and ADB dedicating an overwhelming share of resources to the immediate response, ADB recorded $5,326 million in climate finance in 2020, of which $4,574 million (86%) is expected to contribute to mitigating climate change and $751 million (14%) to adaptation. ADB provided $ 4,568 million from its own resources and mobilized $ 758 million from external resources.*
In 2015, ADB made its initial climate finance commitment to double climate financing from its own resources to $6 billion annually by 2020, which it achieved a year ahead of its target in 2019. This ambitious target was based on approval of projects that integrated climate considerations. Starting in 2021, reporting of ADB’s climate finance mobilization will be based on commitments and not approvals. This is in accordance with the decision made in 2017 to measure and report corporate performance based on commitments. The climate finance targets in Strategy 2030 were made on this basis. See databases for 2020 climate finance based on both approvals and commitments.
*External resources refer to ADB administered donor trust funds, financing from multilateral climate funds such as Global Environment Facility, Climate Investment Fund, Green Climate Fund, and bilateral financing, among others.