Organizers

• United Nations Framework Convention on Climate Change
• Ministry of Economic and Finance, Republic of Korea

Background

The Needs-based Finance (NBF) initiative, launched by the UNFCCC secretariat in response to a COP mandate in 2017 and reiterated in 2021, aims to assist developing countries in identifying and assessing their climate finance needs with the objective to facilitate access to and mobilize climate finance for priority mitigation and adaptation projects. The UNFCCC Secretariat implements this initiative through a regional approach leveraging existing regional frameworks and institutional bodies, in order to support countries with common climate finance needs and priorities.
Since its inception, the NBF initiative has made significant progress through collaborative efforts with country representatives and strategic partnerships with regional partners. One of the key achievements is the development of comprehensive technical assessments on climate finance for Asian regions, including LDC Asia and Southeast Asia. These assessments elucidate the dynamics of climate finance flows within the regions, serving as a foundational blueprint for optimizing resource allocation and maximizing impact.

Building on this foundation, the project has formulated regional climate finance strategies tailored to the unique needs and challenges of each Asian region. This holistic strategy encompasses policy frameworks, capacity-building initiatives, and innovative financing mechanisms aimed at bolstering resilience and adaptation efforts at the grassroots level. Dedicated training workshops have also been conducted to equip stakeholders with the knowledge and skills necessary for effective climate finance governance and implementation.

Through the initiative, country representatives have also conceptualized targeted interventions based on regional priorities identified during the training workshops. These project concepts, covering themes such as climate-resilient infrastructure, nature-based solutions, transport, agriculture, energy, food systems, and water security, reflect a paradigm shift towards needs-based financing. Several rounds of consultation with country representatives and potential implementing agencies have matured these concepts, aligning them with the specific challenges and opportunities of the regions.

The culmination of the NBF initiative is in facilitating countries in mobilizing the necessary financing for their climate ambitions. To achieve this, the initiative will establish platform where governments can showcase their priority climate change projects, originated from the NBF initiative and connect with relevant investors and partners. This effort is embodied in the NBF Investment Forums, which aims to bridge the gap between project ideas and the financial resources needed to bring them to fruition.
 

Objective

The primary objective of this forum is to facilitate direct engagement between government representatives from LDC Asia and ASEAN with implementing agencies and potential investors. The event aims to showcase a pipeline of climate change projects originated from the NBF initiative from both regions, fostering partnerships and investment opportunities that accelerate climate action and sustainable development in the region.

Expected Outcomes

• Enhanced Partnerships: Strengthened collaboration between government representatives, implementing agencies, and investors.
• Project Financing: Identification and preliminary agreement on funding for key climate change projects.
• Capacity Building: Improved understanding of project proposal development and investment strategies among participants.
• Knowledge Exchange: Sharing of best practices and innovative solutions for climate change mitigation and adaptation.

Documents

Presentation slides

Session 4:

Presentation by GIZ

Presentation by IFAD

Presentation by JICA

Presentation by SCENE

Presentation by EDCF

Session 5 :

Presentation by the Green Climate Fund

Presentation by the Global Environment Facility

Presentation by the Adaptation Fund

Presentation by the Asian Development Bank