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Summary from the 58th ADB Annual Meeting | Civil Society Program
At a session co-hosted by the Global Infrastructure Basel Foundation (GIB) and Green Finance 60 during the 58th Annual Meeting of the Asian Development Bank (ADB), stakeholders from civil society, government, and the private sector converged around a shared imperative: resilience must be central to how infrastructure is planned and financed. In an era of rising climate risks, infrastructure must go beyond emission reduction—it must be designed to adapt to evolving environmental conditions.
The Himalayas, particularly Nepal, were spotlighted as one of the most vulnerable regions to climate change due to accelerating glacier melt driven by black carbon emissions. Yet, the region also holds immense opportunity. Tim Gocher, Founder and CEO of Dolma Fund Management, emphasized that Nepal’s abundant renewable energy potential could enable it to become a clean energy exporter—if the right investments and risk-reduction finance models are in place.
The conversation also turned to the broader socio-economic impacts of climate change. Beibei Gu, Vice President of Green Finance Forum of 60, warned of the long-term disruptions that communities could face without resilient infrastructure. She cited projections that estimate trillions in global economic losses by 2050 if adaptation investments are not urgently accelerated.
In Central Asia, attention was drawn to the critical role of mountain ecosystems as water and biodiversity sources. Viktor Novikov, representing Zoi Environment Network in Tajikistan, highlighted the dual need to combat pollution and biodiversity loss. He advocated for nature-based solutions driven by local communities, who are often best positioned to deliver sustainable outcomes.
Tools to streamline resilient infrastructure investment were also discussed. Arshia Karki, Project Manager at GIB, introduced the FAST-Infra Label as a practical tool to align infrastructure projects with robust environmental, social, governance (ESG), and resilience criteria. The label not only simplifies due diligence but also builds investor confidence—encouraging private capital to flow into climate-resilient infrastructure.
Jeff Taylor, Deputy Director General of ADB’s Procurement, Portfolio, and Financial Management Department, described a paradigm shift in procurement policies—where environmental and social considerations are becoming embedded in standard procedures. He also emphasized the importance of social resilience, noting that engaging local communities in the development and maintenance of infrastructure assets can provide both a financial stake and employment opportunities.
The session concluded with a strong message: meeting the challenge of climate resilience in infrastructure demands more than good intentions. It requires innovative finance models, clear performance standards, and multi-stakeholder collaboration. Only then can infrastructure systems adapt to climate change and enable sustainable development at scale.