Washington ¨C The Asian Development Bank (ADB) will boost its climate financing goals by $20 billion to a new target of $100 billion for the 2019-30 period and aims to launch its concept for retiring coal-fired power plants at the COP26 climate conference in Scotland next month, the lender¡¯s chief said on Tuesday.
The plans, disclosed by ADB President Masatsugu Asakawa in an interview, increase a previous $80 billion goal for climate financing for developing countries in Asia for the decade announced in 2018.
¡°The fight against climate change will be won or lost in Asia and the Pacific, and we are committed to serving as a climate bank and a long-term climate partner for our region,¡± Asakawa said.
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