COVID-19 has triggered interest in swapping national debt for action on climate change adaptation.
Preety is responsible for providing policy and strategic direction to ADB’s climate change program. Prior to joining ADB, she headed the Finance, Technology and Capacity Building Program of the secretariat of the UN Framework Convention on Climate Change and has also worked as the Director of the Policy Analysis Division at The Energy and Resources Institute in India.
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Now is the time to ramp up actions on resilience so that society can beat the COVID-19 crisis while reducing the impact of climate threats.
After a disappointing 2019 United Nations Climate Change Conference, there is a need to restore confidence that the intergovernmental process can deliver on mitigation, adaptation, and finance.
With little over a year to go, there is no margin for delay in setting the rules to implement the Paris Agreement on climate change.
There are only eleven months left for countries to finalize the implementation framework for the 2015 Paris Agreement on climate change.
The Philippines' pledge to address climate change is ambitious, but the question is whether or not it will translate into an actual investment plan.
In Paris, ministers have been given all of the ingredients for forging a global climate deal. It is now up to them to deliver a balanced and equitable agreement that protects the future of the planet.
We were delighted last month to learn that the CIFs have decided to extend support to an additional 16 countries, among them several in Asia and the Pacific.
The recent formal pledging session for the Green Climate Fund (GCF)—more than $9 billion in just 5 months—is by far the most successful resource mobilization ever seen for a multilateral climate fund. The US has pledged $3 billion, followed by Japan ($1.5 billion), UK ($1.13 billion), and Germany and France (with $1 billion each). Four developing countries—Indonesia, Mexico, Mongolia, and Panama—have made pledges, breaking the traditional donor boundaries.