Australia Development Bank

ADB to provide climate financing

Its President, Masatsugu Asakawa, said "the battle against climate change will be won or lost in Asia and the Pacific."

He said the crisis is worsening daily, so the bank is elevating its ambition to $US100 billion in cumulative climate finance from its own resources by 2030.

The expanded climate finance ambition will channel money towards five key areas:

First, new avenues for climate mitigation, including energy storage, energy efficiency, and low-carbon transport.