Asian Development Bank (ADB) and Global Environment Facility (GEF) launch Natural Capital Fund to promote environmental protection

The Asian Development Bank (ADB) and the Global Environment Facility (GEF) have announced the establishment of the Natural Capital Fund (NCF), a concessional fund designed to protect and restore natural capital in development as well as enhance food security. Will support ADB's efforts. The announcement was made at the Asia-Pacific Natural Capital Forum held 7-9 November 2023, co-hosted by ADB and Stanford University's Natural Capital Project. ADB and Stanford University are collaborating on introducing natural capital accounting and the Gross Ecosystem Product (GEP) in DMCs. Discussed the nature financing gap and noted ADB's broader initiative, the Nature Solutions Finance Hub, which aims to develop financing models for nature-based solutions by proactively developing scalable and bankable demonstration projects centered around persistent poverty. ADB's goal is to achieve a prosperous, inclusive, resilient, and sustainable Asia and the Pacific region while continuing its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members – 49 of which are from the region.