Climate Change and Disaster Risk Management
In the Spotlight
ADB approved $3.7 billion in climate finance investments in 2016, a 42% increase over 2015.
To strengthen Pakistan’s disaster risk management, ADB has approved a $200 million loan which includes support to NDRMF to reduce the country’s vulnerability to disasters from natural hazards, and climate variability and change.
A newly completed wind farm in Gharo, Sindh Province, is one of a series under construction in Pakistan to reduce the country's serious energy deficit. Forty mammoth wind turbines generate 100 MW of electricity fed to the national grid. The country aims to achieve a 6% share of renewable energy in its total power mix by 2030. As a bonus, new roads servicing the coastal facility have proved a boon to local fishermen.
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.