ADB's Focus on Climate Change and Disaster Risk Management
In the Spotlight
ADB has secured $190 million in total funding—comprising of $85 million in grants and $105 million in concessional loans—from the Green Climate Fund for its climate change projects in Cambodia, Mongolia, and Tajikistan.
Securing a smooth transition to low-carbon and climate-smart development requires effective global partnerships that mobilize funding and track its impact around the world. That's where multilateral development institutions come in.
Countries in the Pacific should step up their efforts to adapt to more extreme weather conditions and mitigate disaster risks to improve the region’s economic growth prospects, according to ADB's latest Pacific Economic Monitor.
Asia and the Pacific are at the center of the battle for climate change. ADB is committed to supporting the shift toward a low GHG emissions and climate-resilient development path.
Meeting the growing global demand for energy and natural resources is destabilizing our climate, and threatening the development and security of Asia and the Pacific. The poor are particularly vulnerable to these changes and are already suffering from rising sea levels and increasingly devastating storms, droughts, and floods. The intensity and frequency of extreme climate events is expected to increase with climate change, potentially exacerbating this trend in the future.
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.
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. ADB is an implementing entity of the Green Climate Fund and is accessing resources from the fund to support climate change actions in the Asia Pacific region.