Global Banks Vow Billions in Sustainable Investments

Asian Development Bank Plans $100 Billion Climate Investment

The Asian Development Bank (ADB) has announced plans to lend an additional $100 billion over the next 10 years, with the aim of becoming the climate bank of Asia and the Pacific. The bank expects to lend around $36 billion per year, marking a 40 percent increase in lending. This funding will primarily support climate-related development projects, including the growth of renewable energy capacity, climate mitigation and adaptation, and the exploration of cleaner transportation and weather-resistant crops. In order to attract more private funding, the ADB also plans to support the creation of regulatory frameworks in countries across the region to reduce risk and make the investment environment more attractive.