ADB Launches Climate Financing Database
MANILA, PHILIPPINES (10 April 2017) — The Asian Development Bank (ADB) has launched a new database presenting detailed figures and insights on projects supporting climate change mitigation and adaptation efforts as the institution moves closer to its $6 billion annual climate financing commitment by 2020.
“The launch of the Climate Change Financing Database is a testament not only to ADB’s objective to lead the climate efforts in Asia and the Pacific, but also to our commitment to remain transparent and accountable,” said ADB Vice-President for Knowledge Management and Sustainable Development Bambang Susantono. “We’re hoping that the database will serve as a tool to ensure that current and future climate efforts are effective, efficient, and sustainable.”
The database is presented in the information portal featuring ADB’s growing climate change projects and graphs that can be sorted and searched through keywords and filters. Available information includes infographics based on country, financing instrument, region, source, sectors, and other parameters. The database’s layout is also mobile-friendly, for better user accessibility. ADB is the first multilateral development bank to present a consolidated climate change portfolio with detailed information on financing.
ADB has been scaling up its investments in climate change projects and increasing access to climate finance for its developing member countries (DMCs) in the region. Last year, ADB approved a total of $3.7 billion in climate finance investments from internal sources, with $2.65 billion earmarked for climate mitigation projects and $1.08 billion for climate adaptation efforts. Including financing from external sources, ADB delivered over $4.4 billion in climate finance in 2016.
In response to climate action commitments made under the COP 21 Paris agreement by its DMCs, ADB is also developing a Climate Change Operational Framework. The framework outlines how ADB will deliver on its $6 billion goal by 2020 and the anticipated growth in DMC demand for ADB support for climate action to 2030.
The database is expected to facilitate greater interest and understanding of ADB’s significant and extensive work in the sector, while helping the bank provide better assistance to its member countries. The website will be developed and updated continuously. Data has been updated as of 31 March 2017.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region.
Source URL: https://www.adb.org/news/adb-launches-climate-financing-database