Japan pledges $100 mn to ADB to combat climate change

Kyoto: Japan has pledged $100 million in grants to the Asian Development Bank (ADB) to combat global climate change and promote greener investment in the region, and promote international agreement to cut greenhouse gas emissions as part of the new initiative by Tokyo to support sustainable development amid increasing concerns that Asia''s breakneck economic growth is having negative effect on environment.

Japan''s will also provide up to $2 billion (Dh7.3 billion) in loans to the Asian Development Bank over the next five years to promote environmentally friendly investment in the region.

Over the last three decades, Asia''s energy consumption has grown by 230 per cent, and it is expected to double again by 2030, ADB President Haruhiko Kuroda said yesterday.

Asia already accounts for one fourth of the world''s greenhouse gas emissions - a leading cause of global warming.