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,"
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
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)