ADB Launches Just Transition Support Platform

SHARM EL-SHEIKH — The Asian Development Bank (ADB) today launched a Just Transition Support Platform, part of ADB’s commitment to ensuring that the benefits of the shift to low-carbon, resilient economies are shared equally and no individual, community, or region is left behind.

The technical assistance platform aims to build the capacity of ADB’s developing member countries (DMCs) to strategically plan, implement, and finance just transition, to manage any negative impacts, and increase benefits from the transition to net zero.

“This platform will help to build inclusive and equitable action toward achieving net zero in Asia and the Pacific, while maximizing the gender, social, and economic outcomes of climate action,” said the Director General of ADB’s Sustainable Development and Climate Change Department Bruno Carrasco. “The Just Transition Support Platform will help our DMCs implement practical just transition approaches to meet their goals under the Paris Agreement.”

Asia and the Pacific accounts for more than half of all global greenhouse gas emissions and is simultaneously highly vulnerable to the impacts of climate change. There is an urgent need for a rapid and just transition toward net zero. The region remains home to a large share of the world’s poor despite impressive economic growth in recent decades, with women particularly continuing to face persistent inequality and vulnerability. At the same time, the region is also home to innovation, talent, and resilient communities ready to take advantage of opportunities presented by the transition.

In 2019, multilateral development banks (MDBs), including ADB, committed to supporting countries as they transform their economies toward low-carbon and climate-resilient development. The MDBs also committed to supporting a just transition that promotes economic diversification and inclusion of women and marginalized groups. MDBs last year developed a set of MDB Just Transition High-Level Principles to articulate a common understanding of MDB support for just transition and guide MDB policies and activities.

Today’s launch of the Just Transition Support Platform showcased how ADB is translating these high-level principles into concrete support consistent with its priorities and mandates and the needs of its respective member countries and partners.

ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members—49 from the region.