Daily Journal masthead

Asian Development Bank to double financing to fight climate change to $6 billion by 2020


STOCKHOLM — The Asian Development Bank says it will double its funding to fight climate change to $6 billion by 2020.

The Manila, Philippines-based ADB says that means its spending on tackling global warming will rise to about 30 percent of its overall financing.

The bank said Friday it will dedicate $4 billion to lowering greenhouse gas emissions "through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities."

The remaining $2 billion will be spent on efforts to help vulnerable countries adapt to climate change, including "through more resilient infrastructure, climate-smart agriculture, and better preparation for climate-related disasters."

The announcement comes as the U.N. prepares to discuss sustainable development goals in New York and ahead of an envisioned global climate pact in Paris in December.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.