Unaccountable Adaptation

This briefing paper examines the Asian Development Bank’s (ADB) climate adaptation finance within one of the world’s most vulnerable regions. Oxfam has assessed the ADB’s financial commitments for climate change adaptation, and the primary discovery is significant: the reported amounts are significantly inflated due to inconsistencies in reporting, which aim to justify the adaptation relevance of the project activities. Transparent and accurate reporting is pivotal for monitoring progress towards global climate finance objectives and informing international discussions and negotiations, such as those surrounding the New Collective Quantified Goal on Climate Finance (NCQG), scheduled to be addressed at the 29th Conference of the Parties (COP29) in Baku, Azerbaijan, in November 2024. Oxfam’s analysis seeks to ensure that climate finance reaches those most in need. To realize this objective, the briefing paper provides recommendations for strategic enhancements by the ADB and its shareholders.

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https://policy-practice.oxfam.org/resources/unaccountable-adaptation-the-asian-development-banks-overstated-claims-on-clima-621602