ADB Ups Support For Projects Promoting Sustainable Development

 

The Asian Development Bank (ADB) has sharply increased support for projects promoting sustainable, inclusive, and environmentally sound growth in Asia and the Pacific, says a new report. "Asian Development Bank Sustainability Report: Investing in Asia and the Pacific’s Future" shows that in 2011–2012, ADB approved projects totaling $43 billion - up 10% from the previous two years - that helped create and expand economic opportunities in the region while taking into account economic, social, and environmental impacts. The projects promoted growth while at the same time enhancing access to basic services such as water supply, education, and health, and helping beneficiaries mitigate and adapt to climate change impacts, among others. "During the same period, ADB approved 112 projects with an environmental sustainability focus totaling more than $13 billion ― a 50% increase over the previous two years. It invested $4.4 billion in clean energy-related initiatives to provide an additional 2,125 megawatts of renewable energy generation capacity across the region over 2011 and 2012," informed the report. 

 

In response to the growing climate change threat, in 2012 alone, ADB approved climate-related finance of $3.4 billion while transport investments, including low-carbon projects, in 2012 totaled nearly $4 billion. According to the report, at the corporate level, ADB promoted sustainability by further reducing the per person use of water, electricity, and paper, and the waste generated at its headquarters, where 77% of its staff work. 

 

ADB is consistently run with the lowest overhead among multinational development banks, according to Standard and Poor’s. In 2012, ADB became the first multilateral development bank to attain ISO 50001 certification for energy management, with measures taken to “green” its headquarters building, including installing solar panels and collecting rainwater. To improve access to information, an updated Public Communications Policy was launched in 2012.