Climate Finance Fundamentals 8: Climate Finance Regional Briefing: Asia
11. May 2018
Climate Funds Update data shows that for 18 countries in Asia a total of USD 3.8 billion has been approved by 17 multilateral climate funds and initiatives for 422 projects and programmes. The diversity of active funds in the region is not matched in the distribution of finance. Considerable amounts of finance have flowed to fast-growing economies such as India and Indonesia, primarily for mitigation projects. On the other hand, a number of populous nations at considerable risk to climate change, such as Pakistan, have received relatively little. This year saw USD 263 million in new approvals, with two-thirds programmed for mitigation through the Clean Technology Fund and Scaling Up Renewable Energy Programme. The Green Climate Fund (GCF), however, approved one adaptation project for the region, one multi-foci and one mitigation project, totalling USD 69.7 million.