The Asian Development Bank (ADB) stated today that it is increasing its objective to deliver $100 billion in climate finance to its developing member countries (DMCs) between 2019 and 2030.
In 2018, ADB pledged to dedicate at least 75% of its total activities to climate change. Additionally, the ADB intended to increase its climate finance resources to at least $80 billion cumulatively by 2030.
Today’s announcement bolsters the financing’s ambition.
The ADB anticipates that its cumulative climate financing from its resources will total around $17 billion between 2019 and 2021.
Source: The Business Standard