BAKU, Azerbaijan, April 6. The Asian
Development Bank (ADB) aims to deliver $100 billion in climate
finance from its own resources by 2030, as part of its strategic
priority to combat climate change and enhance resilience, Trend
reports via the Bank.
With an operational focus on climate action, disaster
resilience, and environmental sustainability under its Strategy
2030, ADB has already made significant strides towards this
goal.
Currently, ADB has allocated over $30 billion towards climate
finance, with $9.8 billion reported in 2023 alone. Moreover, ADB
aims to ensure that 75 percent of its operations will support
climate change mitigation and/or adaptation by 2030. Notably,
between 2021 and 2023, the share of ADB operations dedicated to
climate action has already exceeded expectations, reaching 79
percent.
ADB has elevated the combat against climate change and its
repercussions to the forefront of its development agenda.
Accordingly, the bank is intensifying its support to mitigate
climate change impacts, tackle disaster risks, and combat
environmental degradation.
Through advocacy and action, ADB champions policies, practices,
and technologies aimed at reducing greenhouse gas emissions.
Furthermore, it is implementing a holistic approach to integrate
climate and disaster resilience across its operations. Emphasizing
the critical nexus between water, food, and energy, ADB’s
initiatives also prioritize the promotion of environmental
sustainability.
