ADB Increases Financing of Environmental Sustainability Projects
24 December 2013: The Asian Development Bank (ADB) has increased its level of investment in development projects in the region, including investment in clean energy projects.
The 'Asian Development Bank Sustainability Report: Investing in Asia and the Pacific's Future' indicates that the Bank approved US$43 billion of project financing in the two-year period from 2011 to 2012, a 10% increase from the previous two-year period. ADB notes that US$13 billion was invested in projects with an environmental sustainability focus, with around one-third of this going toward renewable energy, and around one-quarter toward transport and low-carbon projects. The Bank also provided substantial support for sustainable cities and green infrastructure.
The ADB releases a sustainability report every two years, which describes the environmental and social sustainability of its operations and corporate footprint. The 2011-2012 report uses the Global Reporting Initiative's recommended indicators.
The sustainability report also highlights the ADB's achievements in greening its workplace and improving public access to information about its operations. The report notes that the Bank's 'Strategy 2020' aims to significantly increase its support for environmentally sustainable development, including projects to reduce carbon dioxide emissions and address climate change, and to increase assistance for regional cooperation and integration to at least 30% of its total activities. [Publication: Asian Development Bank Sustainability Report: Investing in Asia and the Pacific's Future] [ADB Press Release]