The Asian Development Bank (ADB) called access to climate finance a key priority for Asia and the Pacific as governments design and implement a green and resilient recovery from the coronavirus disease (COVID-19) pandemic.

Speaking at the United Kingdom Climate and Development Ministerial—one of the premier events leading up to the United Nations Climate Change Conference (COP 26) in November—ADB President Masatsugu Asakawa said expanding access to finance is critical if developing economies in Asia and the Pacific are to meet their Paris Agreement goals to reduce greenhouse gas emissions and help adapt to the adverse impacts of climate change.

“We can no longer take a business-as-usual approach to climate change. We need to put ambitious climate actions at the center of development,” Mr. Asakawa said. “ADB is committed to supporting its developing member countries through finance, knowledge, and collaboration with other development partners, as they scale up climate actions and push for an ambitious outcome at COP 26 and beyond.”

ADB is using a three-pronged strategy to expand access to finance for its developing members as they step up their response to the impacts of climate change.

First, ADB has an ambitious corporate target to ensure 75% of the total number of its committed operations support climate change mitigation and adaptation by the end of the decade, with climate finance from ADB’s own resources to reach $80 billion cumulatively between 2019 and 2030. ADB has also adopted explicit climate targets under its Asian Development Fund (ADF), which provides grant financing to its poorest members. ADF 13, which covers the period of 2021–2024, will support climate mitigation and adaption in 35% of its operations by volume and 65% of its total number of projects by 2024.

Second, ADB is enhancing support for adaptation and resilience that goes beyond climate proofing physical infrastructure to promote strong integration of ecological, social, institutional, and financial aspects of resilience into ADB’s investments.

Third, ADB is increasing its focus on supporting the poorest and most vulnerable communities in its developing member countries by working with the United Kingdom, the Nordic Development Fund, and the Green Climate Fund on a community resilience program to scale up the quantity and quality of climate adaptation finance in support of local climate adaptation actions.

Travel restrictions during the COVID pandemic have been particularly hard on refugees and migrants who move out of necessity, stranding millions from home, the UN migration agency, IOM, said on Thursday. 

According to the International Organization for Migration (IOM), the first year of the pandemic saw more than 111,000 travel restrictions and border closures around the world at their peak in December.  

These measures “have thwarted many people’s ability to pursue migration as a tool to escape conflict, economic collapse, environmental disaster and other crises”, IOM maintained. 

In mid-July, nearly three million people were stranded, sometimes without access to consular assistance, nor the means to meet their basic needs.  

In Panama, the UN agency said that thousands were cut off in the jungle while attempting to travel north to the United States; in Lebanon, migrant workers were affected significantly by the August 2020 explosion in Beirut and the subsequent surge of COVID-19 cases. 

Business as usual 

Border closures also prevented displaced people from seeking refuge, IOM maintained, but not business travellers, who “have continued to move fairly freely”, including through agreed ‘green lanes’, such as the one between Singapore and Malaysia.  

By contrast, those who moved out of necessity – such as migrant workers and refugees – have had to absorb expensive quarantine and self-isolation costs, IOM said, noting that in the first half of 2020, asylum applications fell by one-third, compared to the same period a year earlier.  

Unequal restrictions 

As the COVID crisis continues, this distinction between those who can move and those who cannot, will likely become even more pronounced, IOM said, “between those with the resources and opportunities to move freely, and those whose movement is severely restricted by COVID-19-related or pre-existing travel and visa restrictions and limited resources”. 

This inequality is even more likely if travel is allowed for anyone who has been vaccinated or tested negative for COVID-19, or for those with access to digital health records – an impossibility for many migrants. 

Health risks 

Frontier lockdowns also reduced options for those living in overcrowded camps with high coronavirus infection rates in Bangladesh and Greece, IOM’s report indicated.  

In South America, meanwhile, many displaced Venezuelans in Colombia, Peru, Chile, Ecuador and Brazil, lost their livelihoods and some have sought to return home – including by enlisting the services of smugglers. 

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