On 8 to 11 August 2022, a regional training workshop on Climate Finance Access and Mobilization for Least Developed Countries in Asia was held in Bangkok, Thailand. Co-organized by RCC Bangkok and hosted by UNESCAP, the workshop convened government officials and climate funds in a bid to open climate finance opportunities in Asia.
Participants were senior officials from six countries – Bangladesh, Bhutan, Cambodia, Lao PDR, Nepal and Timor-Leste. Held as part of the COP-mandated Needs-Based Finance (NBF) Project, the training aimed to build their capacity and skills by providing tools to translate priority adaptation and mitigation needs into project concepts.
This holds the potential to open access to climate finance from a range of sources. A recent Regional Climate Finance Access and Mobilization Strategy finalized by these countries can also help mobilize climate finance in the region.
According to the Regional Technical Assessment, USD $105.3 billion by 2030 is required for climate action in the region. A large financing gap is yet to be bridged as climate finance from developed countries to all six countries amounted to just USD 13.9 billion between 2013 and 2018. These countries face common challenges to access and mobilize climate finance and have agreed to address these constraints through a common strategy. The workshop supports this strategy with:
- Discussions to operationalize the Regional Climate Finance Access and Mobilization Strategy for the Least Developed Countries in Asia across four pillars
- Five regional project ideas conceptualized by the workshop including expected outputs and possible financial arrangements and implementation partners
- Practical examples of how to strengthen specific elements of funding proposals prepared for the climate funds
- ‘Insiders’ knowledge’ from the representatives of the climate funds on the respective funding windows, project development processes and more
This training workshop featured the Adaptation Fund (AF), Global Environment Fund (GEF), Green Climate Fund (GCF), Global Green Growth Institute (GGGI), UNDP and UNESCAP presenting their combined efforts. Working together, these funds explained the multitude of financing options, instruments and sources available to fund priority adaptation and mitigation projects.
Participants particularly benefited from exchange sessions aimed at navigating different requirements between the funds, applying for funding, identifying commonalities and transforming ideas into bankable project proposals. Participants are encouraged to continue to work with GCF, GEF and AF to further develop the regional projects ideas from the workshop.
The workshop was delivered by a UN Climate Change team comprised of Yolando Velasco, Debapriya Roy, Astrid Rahardjo and Jens Radschinski of RCC Bangkok in collaboration with the UN Economic and Social Commission for Asia and the Pacific (UNESCAP), the event host. UNESCAP has published an Outcome Report with more information on the structure and results of the workshop.
Background
The NBF project aims to facilitate access to and mobilization of finance for the implementation of priority mitigation and adaptation projects that meet the needs identified by developing countries. The project follows a staged approach that consists of assessing climate finance flows and needs, developing a strategy and a project pipeline, and mobilizing climate finance to match the regional priorities with funds. More information is available on the NBF project website.
Contact
For more information on the Climate Finance Access and Mobilization for Least Developed Countries in Asia Strategy or its implementation, please contact rccbangkok@unfccc.int.
