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THE GIST
NEWS AND FEATURES
Global Philippines Fine Living
INSIGHTS
INVESTMENT STRATEGY
Economy Stocks Bonds Currencies
THE BASICS
Investment Tips Explainers Retirement
WEBINARS
2024 Mid-Year Economi Briefing, economic growth in the Philippines
2024 Mid-Year Economic Briefing: Navigating the Easing Cycle
June 21, 2024
Investing with Love
Investing with Love: A Mother’s Guide to Putting Money to Work
May 15, 2024
retirement-ss-3
Investor Series: An Introduction to Estate Planning
September 1, 2023
View All Webinars
DOWNLOADS
equities-3may23-2
Consensus Pricing
Consensus Pricing – June 2025
June 25, 2025 DOWNLOAD
Two people discussing a chart on a tablet
Economic Updates
Policy Rate Update: Dovish BSP Narrows IRD 
June 19, 2025 DOWNLOAD
grocery-2-aa
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Inflation Update: Prices rise even slower in May 
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Rates & Bonds 1 MIN READ

Asian Development Bank boosts climate financing goal to $100 billion through 2030

October 12, 2021By Reuters
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WASHINGTON, Oct 12 (Reuters) – The Asian Development Bank’s chief said on Tuesday said the lender will boost its climate financing goals by $20 billion to a new target of $100 billion through 2030 and aims to launch its concept for retiring coal-fired power plants at the COP26 climate conference in Scotland next month.

The plans, disclosed by ADB President Masatsugu Asakawa in an interview with Reuters, increase a 2018 goal for $80 billion in climate financing for developing countries in Asia.

“The fight against climate change will be won or lost in Asia and the Pacific, and we are committed to serving as a climate bank and a long term climate partner for our region,” Asakawa said.

The additional $20 billion in financing support will provide support for climate mitigation efforts including low-carbon energy sources, climate adaptation projects and private sector projects.

Asakawa said ADB now plans for $66 billion in financing for climate mitigation financing through 2030, including for new energy storage, energy efficiency and low-carbon transportation investments. The Manila-based lender will plan for climate adaptation financing of $34 billion, including agriculture, urban and water adaptation projects.

(Reporting by David Lawder
Editing by Chizu Nomiyama)

((David.Lawder@tr.com; +1 202 354 5854; Reuters Messaging: david.lawder.thomsonreuters.com@reuters.net))

This article originally appeared on reuters.com

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