Pedestrians walk past a logo of the Asian Development Bank (ADB) displayed outside its headquarters in Manila, Philippines, on Sept 2, 2010. (PHOTO / AFP)

MANILA - The Asian Development Bank on Thursday said it committed $9.8 billion in climate finance from its resources in 2023, a more than 46 percent increase on its 2022 climate financing commitments.

As Asia and the Pacific's climate bank, the ADB said it aims to provide $100 billion in climate financing from its resources from 2019 to 2030

The ADB said its climate finance in 2023, which includes $5.5 billion for mitigation and $4.3 billion for adaptation, has helped its developing members in Asia and the Pacific cut greenhouse gas emissions and adapt to the impacts of a warming planet.

"Climate change threatens the future of all development. 2023 was the hottest year on record and saw a swath of extreme, deadly climate impacts in our region," said ADB President Masatsugu Asakawa, adding that the crisis threatens energy and food security and creates fiscal challenges.

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As Asia and the Pacific's climate bank, the ADB said it aims to provide $100 billion in climate financing from its resources from 2019 to 2030.

In 2022, the ADB committed $6.7 billion of climate finance from its resources, including $4 billion for mitigation and $2.7 billion for adaptation.