ADB is committed to helping its developing member countries reduce greenhouse gas (GHG) emissions and build climate resilience as part of our overall strategy to address climate change in Asia and the Pacific. In late 2015, we announced that we would double our climate financing to $6 billion per year by 2020. ADB was the first multilateral development bank to make such a promise, and created the momentum for others to follow.

Out of the $6 billion, $4 billion will be allocated to fund mitigation projects in sectors such as renewable energy, energy efficiency, sustainable transport, and $2 billion for adaptation in urban resilience, agriculture, and land use. The goal is to provide our developing member countries with the financial and technical support to curb GHG emissions and achieve the ambitions articulated in their respective Nationally Determined Contributions under the 2015 Paris Agreement. — blog.adb.org/blogs