The Asian Development Bank today said it will double its funding to fight climate change to USD 6 billion by 2020.
The Manila, Philippines-based ADB said that means its spending on tackling global warming will rise to about 30 per cent of its overall financing.
The bank said it will dedicate USD 4 billion to lowering greenhouse gas emissions "through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities."
The remaining USD 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 UN prepares to discuss sustainable development goals in New York and ahead of an envisioned global climate pact in Paris in December.
