ADB approves a record $3.7b in 2016 for climate operations

The Asian Development Bank (ADB) has approved a record $3.7 billion in climate operations in 2016, a 42% increase from $2.6 billion it approved in 2015. This comprised $2.65 billion for climate mitigation and $1.08 billion for climate adaptation. In the Pacific, climate operations include the ADB’s proposed Pacific Islands Renewable Energy Investment Program with the support of the Green Climate Fund.