ADB's Focus on Climate Change and Disaster Risk Management
In the Spotlight
ADB will more than double the level of climate financing it will mobilize for its Pacific developing member countries to over $500 million between 2017 and 2020.
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.
The world’s six largest multilateral development banks (MDBs), including ADB continued to make a strong contribution to the global climate challenge in 2016, increasing their climate financing in developing countries and emerging economies last year to $27.4 billion from $25 billion in 2015.
This framework provides direction for enhancing resilience and supporting climate adaptation and mitigation actions in ADB operations and business processes.
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.
ADB plays an important role in leading the region to a green growth path through financing and innovative technologies. From 2011 to 2015, ADB approved over $15.5 billion of climate financing. ADB's own resources provided $13.5 billion while external resources contributed over $2.0 billion. 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.