ADB's Focus on Climate Change and Disaster Risk Management
In the Spotlight
Build Back Better has been the foundation of ADB’s reconstruction support to Nepal after the devastating earthquake of 25 April 2015. The newly constructed schools are earthquake resilient with improved facilities and systems.
Now is the time to ramp up actions on resilience so that society can beat the COVID-19 crisis while reducing the impact of climate threats.
The pandemic demonstrates that disasters are triggered by multidimensional risks and hazards, and that a country’s approach to urban resilience needs to be multifaceted.
Guraidhoo Island in the Maldives is shrinking by the year, as soil erosion and rising oceans threaten its very survival. A high-level conference organized by ADB discussed the problem and what action needs to happen to save the atoll countries.
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 2019 ADB approved over $36 billion in climate financing. ADB's own resources provided $31.7 billion while external resources contributed almost $4.6 billion. Climate finance totaling $111 billion was mobilized for projects funded by the world’s six largest multilateral development banks (MDBs) in 2018.
Through mechanisms such as the Climate Investment Funds, multilateral development banks have mobilized $8 billion for climate action in developing countries, with $1.4 billion earmarked for Asia and the Pacific for ADB. ADB is an accredited entity of the Green Climate Fund and is accessing resources from the fund to support climate change actions in the Asia Pacific region.
- Operational Priority 3: Tackling Climate Change, Building Climate and Disaster Resilience, and Enhancing Environmental Sustainability
- Focused Action: Priorities for Addressing Climate Change in Asia and the Pacific
- Addressing Climate Change in Asia and the Pacific: Priorities for Action
- Operational Plan for Integrated Disaster Risk Management 2014-2020
- Climate Change Operational Framework 2017–2030: Enhanced Actions for Low Greenhouse Gas Emissions and Climate-Resilient Development