Adb'S Work On Climate Change And Disaster Risk Management

Climate Change and Disaster Risk Management
ADB's Work on Climate Change and Disaster Risk Management ADB is prioritizing climate and disaster resilience and low-carbon development in response to the growing threats facing Asia and the Pacific.
ADB aims to deliver $100 billion in climate finance from its own resources in ******** , as part of its operational priority to address climate change, enhance climate and disaster resilience, and improve environmental sustainability under its Strategy 2030. As of the end of 2023, ADB has already contributed over $30 billion towards this commitment by investing in its operations (covering regular and concessional ordinary capital resources or Asian Development Fund grant resources). ADB also aims to ensure that 75% of its operations (on a 3-year rolling average) will support climate change mitigation and/or adaptation by 2030. Across ******** , the share of ADB operations supporting climate action has already reached 79%, surpassing the target ahead of schedule.
ADB is promoting a just transition to a low-carbon and climate-resilient future in line with the Paris Agreement. To further embed climate action throughout its operations, ADB has released its Climate Change Action Plan (CCAP), ******** . The CCAP shows how ADB will deliver on its climate finance ambitions; guides its approach to partnerships, finance, and knowledge; outlines how it will engage with developing member countries; and details how it will deliver low-carbon and climate-resilient solutions across its operations. ADB will regularly monitor and evaluate its progress in pursuing the plan.
Recognizing the increasing impact of disasters and climate change on marginalized and vulnerable countries and populations, ADB approved a Revised Disaster and Emergency Assistance Policy (DEAP) in October 2021. The 2021 DEAP will increase the impact of ADB's support to its development member countries in strengthening resilience and responding to disasters and emergencies.
Clean Energy With Asia and the Pacific responsible for more than half of all global carbon emissions, the key to tackling climate change is transitioning the region to clean energy. ADB invested more than $25 billion in clean energy through sovereign and non-sovereign initiatives from 2008 to 2020. Mainstreaming affordable and reliable clean energy in developing Asia is critical for sustainable development and regional energy security, as well as addressing climate change. A sustainable and secure energy supply remains essential, as more than 350 million people still lack access to electricity in the region, with several countries still heavily dependent on imported fossil fuels.
Aerial view over the floating solar photovoltaic power generation at the Da Mi hydropower plant in Viet Nam. Photo: Gerhard Joren/ADB
In October 2021, ADB committed to elevating its ambition to $100 billion in cumulative climate financing from its own resources to its DMCs for the period ******** . Investment in all developing countries for climate mitigation is estimated to be between $140 billion to $175 billion per year by 2030. Climate adaptation cost estimates for Asia and the Pacific are in the order of $40 billion per year between now and 2050. Through mechanisms such as the Climate Investment Funds, multilateral development banks have mobilized $7.0 billion for climate action in developing countries, with more than $2.5 billion earmarked for Asia and the Pacific. For the massive financing required to combat climate change, the key will be using limited public sector funds to leverage significant amounts of private capital.
Investing in nature is more important than ever to safeguard economies, health, and wellbeing. Photo: Francesco Ricciardi/ADB
Green Cities Cities in Asia are growing at an unprecedented pace, with 44 million people added to urban populations every year. The resulting congestion, waste, pollution, and associated health impacts remain key challenges in sustaining urban development. ADB supports liveable, green cities through financing water supply, waste management, clean transport, urban planning, and clean energy projects. Transport is the fastest growing source of new GHG emissions in the region. Shifting transport and urban development to a greener, more sustainable model will significantly reduce climate change.
Rush hour traffic crawls in Jakarta, Indonesia. Photo: Lester Ledesma/ADB
Building Disaster Resilience ADB helps its member countries to become more resilient to disasters by financing disaster risk management in areas such as flood control, early warning systems, nature-based solutions, integrated water resource management, resilient infrastructure, and disaster risk financing. Between January 2017 and December 2021, ADB approved $2.08 billion for 32 projects that directly reduced disaster risks, improved institutional and community preparedness, and strengthened financial preparedness for disasters. A further 351 projects incorporated measures to strengthen disaster resilience in their design. Investment in disaster resilience can contribute to sustained economic growth, poverty reduction, and enhanced natural resource management. These investments have the most far-reaching effect if these are undertaken in the context of wider development and are carefully integrated into the development process. Successful investment in resilience also requires active cooperation between governments, the private sector, civil society, and the international community.
To better understand and prepare for disaster risks and climate change impacts, ADB supported the Multi Hazard Climate and Disaster Risk Assessment of Tongatapu Island in Tonga, which analyzed thousands of buildings, roads, power and water assets. Photo: Screen grab from How ADB is Supporting Tonga's Climate and Disaster Risk Management
Resilient Development ADB is promoting disaster risk reduction and climate change adaptation in the region by investing in water supply, sanitation, irrigation, flood control, transport and energy infrastructure that withstands and builds resilience to disasters and climate change. Climate adaptation cost estimates for Asia and the Pacific are in the order of $40 billion per year between now and 2050. Investment in health and education will also improve countries' capacity to adapt. Helping vulnerable communities and sectors cope with disasters and climate change strengthens their resilience and facilitates sustainable development. ADB is working with partners to roll out an ambitious community resilience partnership program across the region.
The Hahake Coastal Protection consists of several infrastructure interventions in select sites of Tonga's Eastern Tongatapu coastline. Photo: Eric Sales/ADB
Ensuring Rapid Response and Resilient Recovery Through technical assistance, grants and emergency assistance loans, ADB provides timely support to help its developing member countries respond to urgent life-saving requirements, rebuild high-priority infrastructure and physical assets, and restore governance and economies following disasters and emergencies. Between January 2017 and December 2021, ADB approved $818.35 million in financing for 15 post-disaster assistance projects following disasters triggered by natural hazards. ADB's recent response to disasters in the region have included the Sulawesi earthquake and tsunami in Indonesia, an earthquake in Papua New Guinea, volcanic activities in Vanuatu and Tonga, and tropical cyclones in the Pacific. See Asia Pacific Disaster Response Fund (APDRF) .
A new building at the Baiteshwori school was reconstructed with ADB support following the 2015 Nepal earthquake, opening 4 years after the disaster. Photo: Narendra Shrestha/ADB
ADB works to assist member countries to formulate and mainstream climate adaption and resilience policies. The bank produces regular Climate Risk Country Profiles that outline changes in key climate parameters, as well as the impact of these changes on communities, livelihoods, and economies. The aim of the series is to provide user friendly technical resources to facilitate country diagnostics, policy dialogue, and strategic planning. ADB's Climate Change Operational Framework ******** provides a framework for DMCs to enable the implementation of their international commitments to address climate change, while pursuing sustainable development.
The Mbalasuna Bridge, constructed under the ADF-assisted Solomon Islands Transport Sector Flood Recovery Project. Photo: ADB
Carbon Pricing and Carbon Markets ADB remains steadfast in supporting its developing member countries (DMCs) utilize carbon pricing instruments as an integral part of the broader policy architecture to help achieve their nationally determined contribution (NDC) and net-zero targets. ADB has a long-standing engagement with carbon markets, mobilizing carbon finance and providing technical and capacity-building support through the Asia Pacific Carbon Fund, Future Carbon Fund, and the Japan Fund for the Joint Crediting Mechanism. ADB has been providing technical support to enhance the capacity of its DMCs through its Technical Support Facility as well as the Article 6 Support Facility. ADB will continue to take a holistic approach to carbon pricing and markets by mobilizing carbon finance, incentivizing investments in low carbon technologies, and providing technical and capacity building support to its DMCs.
Anaerobic digesters capture methane from the Kinoya Sewerage Treatment Plant in Fiji.
Land and Forests ADB is working across Asia and the Pacific to support sustainable forest management and conservation efforts, as well as agricultural land use improvements, to promote carbon conservation. Land and forests need to be conserved to provide proper livelihoods for local populations and a safe and sustainable haven for thousands of animal and plant species. ADB's approach to land and forest management helps support local livelihoods, strengthens resilience to climate change, maintains clean water, and protects biodiversity.
View from Ha Tinh langur and limestone mountain in Viet Nam's Quang Binh Province. Photo: Tran Viet Tuan/ADB
ADB strengthens disaster risk management assistance to its developing member countries On 5 October 2021, the Asian Development Bank (ADB) approved the new Disaster and Emergency Assistance Policy, the Emergency Assistance Loan Policy, and the Establishment of a Second Window of Assistance under the Asia Pacific Disaster Response Fund. These three policies are intended to increase the impact of ADB's support to its developing member countries in strengthening their resilience and responding to disasters and emergencies affecting them.
Strategy 2030 sets seven operational priorities, each having its own operational plan. The operational plans contribute to ADB's vision to achieve prosperity, inclusion, resilience, and sustainability, and are closely aligned with Strategy 2030 principles and approaches.
ADB Projects on Climate Change and Disaster Risk Management #J-18808-Ljbffr