ADB's Work for Environmental Sustainability
ADB supports its developing member countries (DMCs) in improving environmental management, investing in natural capital conservation and restoration, and ensuring that ADB projects contribute to water, energy, and food security. Central to ADB’s Strategy 2030 Operational Priority 3 is enhancing environmental sustainability. ADB works across the region to help DMCs achieve the Sustainable Development Goals, which are all underpinned by natural resources and our environment. This work involves strengthening capacity, mobilizing resources, and developing better indicators to measure progress towards goals and targets.
Air Quality
ADB supports improved air quality through projects, technical assistance, and knowledge management. For example, ADB has invested more than $2.15 billion in the People’s Republic of China (PRC) to improve air quality, boost green financing, and the transition to cleaner fuel. Mongolia has worked with the bank on policy reforms and cleaner power generation. On a regional level, ADB has partnered with Kazakhstan, Mongolia, and the PRC on planning, capacity building, and data management to enhance low carbon growth. Work is ongoing to develop clean air action plans in major cities throughout developing Asia where vehicles, industry, and power generation cause serious pollution.
Green Business Development
ADB works to stimulate the development of green businesses in the region. These include companies involved in solid waste management, air quality, wastewater, sanitation, and natural capital. Market-based instruments, such as fuel taxes and green subsidies, can reduce pollution and improve resource efficiency through incentives, behavior change, and innovation. Environmental taxes and tradeable permit markets can also boost government revenue for environmental improvement.
Natural Capital and Biodiversity
ADB has long been committed to protecting natural capital and biodiversity to support economic growth and improve people’s lives throughout the region. This includes management of protected areas, safeguarding watersheds, restoring habitats, and conserving biodiversity. ADB also provides knowledge and technical support for the inclusion of environmental issues into infrastructure projects, such as roads and bridges. This approach is designed to maximize the economic and social impact of the projects while minimizing the environmental cost.
Ocean Health
ADB is committed to boosting investment in healthy oceans to $5 billion by 2024, focusing on coastal and marine ecosystem resilience, circular economy for plastic-free oceans, sustainable seafood, and ocean finance. The Ocean Finance Framework describes the types of projects that meet the criteria for investments under the Action Plan for Healthy Oceans and Sustainable Blue Economies. ADB issued its first blue bond for $300 million in September 2021, launched the Blue SEA (Southeast Asia) Finance Hub in November 2021, and is developing a technical assistance project for approval in 2022.
Water, Food and Energy
ADB’s Strategy 2030 recognizes the close link between water, energy, and food security for poverty reduction and development. Careful management is required to balance water use for food, energy, industry, and domestic consumption. ADB has been encouraging sustainable and equitable water use through its country water assessments and supporting integrated water resources management.
ADB Green and Blue Bonds
The Green Bond program enables ADB to support its developing member countries seeking to mitigate greenhouse gas (GHG) emissions and adapt to the consequences of climate change, whilst delivering environmentally sustainable growth to help reduce poverty and improve the quality of life of their people.
Related
- Operational Priority 3: Tackling Climate Change, Building Climate and Disaster Resilience, and Enhancing Environmental Sustainability
- Asia Pacific Disaster Response Fund
- Accelerating Climate and Disaster Resilience and Low-Carbon Development through the COVID-19 Recovery: Technical Note
- The Integrated Disaster Risk Management Fund: Sharing Lessons and Achievements
- Infographic: Funding the Fight Against Climate Change
Operational Priorities
Strategy 2030 sets seven operational priorities, each having its own operational plan. The operational plans contribute to ADB’s vision to achieve prosperity, inclusion, resilience, and sustainability, and are closely aligned with Strategy 2030 principles and approaches.
