Asian Development Bank to launch key initiatives at COP27

Asian Development Bank to launch key initiatives at COP27

MANILA – As the global community will gather in Sharm el-Sheikh, Egypt, for the COP27 climate conference, on 6th November, the Asian Development Bank (ADB) announced that it will launch several flagship initiatives at the key decision-making forum of the United Nations Framework Convention on Climate Change (UNFCCC), which aims to reduce greenhouse gas emissions and address climate change and its impacts.

The ADB says COP27 comes at a critical juncture as Asia and the Pacific deals with the impacts of increasingly frequent and intense weather events caused by climate change and provides a chance for the global community to come together to decarbonize at scale and greatly expand concessional and grant resources to developing countries.

ADB will launch several flagship initiatives at COP27, including the Asia Pacific Water Resilience Initiative, which will promote resilient water management in the region, as well as the Blue Pacific Finance Hub, which aims to restore ocean health, build coastal resilience, and develop sustainable blue economies.

ADB will launch the Just Transition Support Platform to help strengthen ADB’s work in the just transition space, which seeks to ensure that the benefits of the shift to low-carbon, resilient economies are shared equally and no individual, community, or region