Resources

Summary

The Asian Development Bank introduced a Climate Change Action Plan (CCAP) to address the critical challenges posed by climate change in Asia and the Pacific. Recognizing the potential reversal of development gains, increased poverty, and threats to livelihoods, the ADB aims to play a lead role in fostering a low-carbon and climate-resilient future in line with the Paris Agreement. The CCAP outlines ambitious goals, including providing $100 billion for climate action by 2030, with a focus on adaptation and resilience. ADB plans to leverage partnerships, enhance its operational approach, engage strategically with countries and the private sector, and deliver comprehensive climate solutions across various sectors, including energy, transport, agriculture, and biodiversity. The plan emphasizes ADB's commitment to reducing its own carbon footprint, embedding climate action in corporate processes, and regular monitoring and updates to ensure effectiveness. The CCAP aligns with ADB's broader Strategy 2030 and reflects a holistic approach to addressing climate challenges in the region.