Manila, 29 June 2022 (TDI): Asian Development Bank (ADB) shared its commitment to work for sustainable agribusiness in the Asia-Pacific.
ADB is going to play an important role in unlocking investment to develop greener & more resilient agriculture practices. These greener agriculture practices can help reduce the negative impact of global warming.
As the region’s climate bank, ADB will play an important role in unlocking investment to develop greener & more resilient agriculture practices to address the climate crisis.
Here’s how agribusiness can reduce the impact of climate change ⤵️ pic.twitter.com/F5YdgGK4nx
— Asian Development Bank (@ADB_HQ) June 28, 2022
Asian Development Bank: An Overview
Established in 1966, ADB works to achieve prosperity in the Asia-Pacific. It has more than 60 members from the region.
Above all, the region is still home to a great portion of the planet’s poverty. The Asian Development Bank assists its members through technical assistance, loans, and other types of aid to promote development.
Furthermore, the bank is focused on 18 different sectors and themes. One of those themes is agriculture and food security.
ADB’s role in sustainable agribusiness
The bank is working hand in hand with its member nations to reinforce the efficiency and sustainability of agricultural value chains. It aims to reinvent agriculture in the region.
In order to do that, ADB is creating alliances throughout developing countries. Its goal is to fight food insecurity and the effect of global warming on food supply chains.
The bank believes in adaptation to climate change and the implementation of new technologies as solutions. Additionally, its work also focuses on the reduction of food price instability.
Nowadays, the international food chain is responsible for more than 30% of greenhouse emissions. Consequently, agriculture is the most affected sector by global warming.
Smallholder farmers dominate agriculture in the region. This signifies that farmers and their businesses are extremely vulnerable to climate risks and other events.
Billions of dollars are needed each year to reinvent the sector into a more sustainable space. As of 2022, less than half of ADB’s agribusiness projects have included climate finance components. Hence the bank is looking to increase this proportion in the following decades.
To sum up, the role of ADB in the fight against climate change is important. Especially in the Asia-Pacific where the number of smallholder farmers is high. Future generations will benefit from this kind of initiative.
