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The battle against climate change will be won in Asia and the Pacific – President Masa

“COP26 made several promising steps forward in uniting the world, and the Asia and the Pacific region, to take stronger action against climate change. I was personally encouraged by the spirit of collective determination and willpower I saw at COP26 to solve what is the critical issue of our lifetime,” said ADB President Masatsugu Asakawa on 15 November following the close of COP26. “At the same time, the detailed negotiations and final statement clearly highlight that more needs to be done—more financing, more innovation, and more collaboration are needed faster to meet this challenge. As the region’s climate bank, ADB is focused on working with our DMCs and other partners to ensure the battle against climate change is won in Asia and the Pacific.”

ADB signed join statement together with other leading multilateral development banks that committed to mainstream nature into its operations, raise climate action ambition, and prioritize a just transition that ensures communities, industries, and workers are protected from the move toward net-zero economies.

ADB had announced in October, that it will increase climate financing to its DMCs to $100 billion from 2019–2030. It also adopted a new energy policy which rules out new investments in coal production and commits to supporting universal access to reliable and affordable energy services. ADB has committed to aligning its operations with the goals of the Paris Agreement, and to ensuring that by 2030 at least 75% of the total number of its operations will support climate action.

ADB announced a range of high-level measures and partnerships at COP26 aimed at taking transformational action against climate change, including:


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  • Asian Development Bank