Climate Change Financing at ADB
In 2015 ADB made a commitment to double climate financing from its own resources to $6 billion annually by 2020. This was the first of such announcements amongst the multilateral development banks in the lead up to the historic United Nations Climate Change Conference held in Paris. This ambitious target was based on approval of projects that integrated climate considerations and associated financing. ADB achieved this target a year ahead of time in 2019.
ADB delivered over $6.37 billion in climate finance from its own resources in 2019, in addition to raising a total of $704.9 million from external financing.*
Effective 1 January 2017, ADB introduced measurement of corporate performance based on commitments rather than approvals. In view of this, performance of ADB on climate finance beyond 2020 will be based on commitments. For 2020, the year of transition, reporting will be for both approved and committed projects.
Note: *- ADB administered donor trust funds, financing from multilateral climate funds such as Global Environment Facility, Climate Investment Fund, Green Climate Fund, and bilateral financing, among others.