ADB Green Bond: issue 4

Abstract

Asia and the Pacific is the fastest-growing region over the recent decades in economic terms and it is expected to account for more than half of global production by 2050. However, this exceptional development has come at steep environmental costs, undermining the prospects for sustained economic growth and social development within and beyond the region. In 2015, Asia and the Pacific accounted for 50% of global domestic material consumption and 55% of global material footprint, but only 32% of global gross domestic product. Troubling signs can be seen in findings that 100 of the world’s most polluted cities are in Asia and the Pacific. Climate change and disasters also threaten the long-term sustainability of development in the region. Of the 10 countries worldwide with the highest estimated disaster risk, seven are developing member countries (DMCs) of the Asian Development Bank (ADB).