Asian Development Bank to double financing to fight climate change to 6

by The Associated Press Posted Sep 25, 2015 2:52 am MDT Last Updated Sep 25, 2015 at 3:20 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Asian Development Bank to double financing to fight climate change to $6 billion by 2020 STOCKHOLM – The Asian Development Bank says it will double its funding to fight climate change to $6 billion by 2020.The Manila, Philippines-based ADB says that means its spending on tackling global warming will rise to about 30 per cent of its overall financing.The bank said Friday it will dedicate $4 billion to lowering greenhouse gas emissions “through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities.”The remaining $2 billion will be spent on efforts to help vulnerable countries adapt to climate change, including “through more resilient infrastructure, climate-smart agriculture, and better preparation for climate-related disasters.”The announcement comes as the U.N. prepares to discuss sustainable development goals in New York and ahead of an envisioned global climate pact in Paris in December.

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