Climate change

Last week, representatives of the world’s multilateral development institutions and member institutions of the International Development Finance Club reconvened in Paris for the One Planet Summit to reaffirm their commitment to the 2015 Paris Agreement on climate change.

With development finance institutions increasingly focused on supporting the international climate agenda, it is a good time to reflect on the COP 23 climate conference in Bonn that I attended last month, and to analyze how ADB is contributing to some of the areas highlighted during the event.

ADB provided financial and advisory support for Fiji’s successful presidency of COP 23—a significant achievement for the country and one which has helped to raise awareness about climate threats faced by Pacific island nations.

The crucial issue of finance was hotly debated in Bonn, with developing countries insisting on more clarity and ambition from developed countries. —