ADB has establishing a new fund to slow the onset of climate change and to help the Asia-Pacific region adapt to the expected devastating impact of global warming. ADB will provide an initial $40 million to the Climate Change Fund, which will be open for further contributions from countries, other development organizations, foundations, the private sector and other sources.
”The purpose of the fund is to facilitate greater investments in developing countries in Asia and the Pacific to address the causes and consequences of global warming. Money from the fund will be used to provide grant financing for technical assistance, investment projects, research and other activities, and we welcome interested parties to participate in the fund,” said Mr. Werner Liepach, Principal Director of ADB’s Office of Cofinancing Operations. http://www.adb.org/Media/Articles/2008/12474-asian-climates-changes
Filed under: Development, Economy, Publications, Asia
So much needs to be done if we really want to act against climate change. We have a good track record for raising funds. We have actually managed to raise billions by various government and privates sources – which is pretty cool if you think about it.
However, what about the deployment of funds and the effectiveness???
Issues like carbon consumption, clean energy, and renewable energy all demand consideration immediately. Stakes are high. If we fail on these issues, we die.