ADB Support for Climate Change
From 2011 to 2017 ADB approved over $25 billion in climate financing. ADB's own resources provided $21.7 billion while external resources contributed almost $3.5 billion. Climate finance totaling $65 billion was mobilized for projects funded by the world’s six largest multilateral development banks (MDBs) in 2016. ADB is committing $80 billion from 2019 to 2030 to combat climate change.
ADB seeks to help its member countries become more resilient to the effects of disasters. Between August 1987 and December 2013, ADB approved $19.5 billion for 631 disaster risk management-related projects. This has included flood control and integrated water resource management projects, as well as the development of innovative ways of financing disaster risk management. ADB’s quick response was seen in the aftermath of Typhoon Haiyan/Yolanda in the Philippines in 2013.
ADB supports green growth in Asia and the Pacific through financing and innovative technologies. Through mechanisms such as the Climate Investment Funds, multilateral development banks have mobilized $8.4 billion for climate action in developing countries, with $1.6 billion earmarked for Asia and the Pacific for ADB. As an implementing entity of the Green Climate Fund, ADB has access to a potential $100 billion annually for climate change action in the Asia Pacific region.