ADB raises climate finance ambition to USD 100 billion

The Asian Development Bank (ADB) announced it is elevating its ambition to deliver climate financing to its developing member countries (DMCs) to USD 100 billion from 2019–2030, said statement of the financial institution's headquarters in Manila.

"The battle against climate change will be won or lost in Asia and the Pacific," said ADB President Masatsugu Asakawa. "The climate crisis is worsening daily, prompting many to call for increased climate finance. We are taking action to meet this call by elevating our ambition to USD 100 billion in cumulative climate finance from our own resources by 2030."

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.