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ADB commits to full alignment with Paris Agreement

Press Releases
On 8 July, President Masa has announced ADB’s alignment with the Paris Agreement. ADB aims to align 100% of its sovereign operations and 85% of its nonsovereign operations by 1 July 2023. ADB’s nonsovereign operations will also have achieved 100% alignment two years later by 1 July 2025.President…

How Carbon Pricing Can Drive Green Recovery and Growth

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SDCD’s Virender Duggal shares his insights about the role of carbon pricing in the overall climate policy architecture. Carbon pricing can be a lever that can help alter behavior by serving as incentive for a more efficient and sustainable practices.

The response to COVID-19 should also be a response to the climate crisis

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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 last few weeks have taken all of us by surprise. We are confined to our homes. Weaknesses in health care systems have been exposed. Jobs are uncertain.…

CEFPF Supports Two New Technical Assistance

Press Releases
On 30 September 2021, the Climate Change Steering Committee authorized the allocation of $2.5 million in funding support from the Canadian Climate Fund to the Private Sector in Asia (CFPS) and the Carbon Capture and Storage Fund (CCSF) under the Clean Energy Financing Partnership Facility (CEFPF)…

External Evaluation of the Clean Energy Financing Partnership Facility

Press Releases
An external evaluation of the performance of the Clean Energy Financing Partnership Facility (CEFPF) will be conducted in 2022 as requested by the financing partners. The external evaluation will assess how effective CEFPF is in helping ADB achieve its clean energy goals, while also meeting…

$66 billion climate finance committed by MDBs in 2020

Press Releases
Major multilateral development banks including ADB committed $66 billion in 2020 from $61 billion in 2019. Around $38 billion (58% ) has been committed for low to middle-income countries. This is according to the 2020 Joint Report on Multilateral Development Banks’ Climate Finance …

ADB Raises 2019–2030 Climate Finance Ambition to $100 Billion

Press Releases
President Masa on 13 October announced the increase in ADB climate finance target from $80 billion to $100 billion from 2019 to 2030. About $17 billion in climate finance is expected to be registered for 2019 to 2021.The additional $20 billion will provide support for the climate agenda in five…

ADO 2021 emphasizes green and inclusive financing in building back better and sustainably

Press Releases
On 28 April, the Asian Development Outlook 2021 was released. The report stresses the importance of green and social finance in ensuring inclusive, resilient and sustainable recovery for Asia and the Pacific Region from the coronavirus pandemic.ADO 2021 outlined the role of different players in…

MDB climate finance reached $61 billion in 2019

Press Releases
Based on the 2019 Joint Report on Multilateral Development Banks’ Climate Finance, seven of the world’s largest multilateral development banks (MDBs) including ADB, were able to mobilize $61.6 billion in 2019, with $41.5 billion (67%) for low- and middle-income economies.Of the total amount,…

Build green to help fend off the next pandemic

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Colleagues from SERD asserts in the blog the need to integrate green financing principles and incentives into infrastructure investment instruments and structures to strike a balance between economic, social and environmental sustainability.