Climate finance fundamentals 8: Asia (2017 update)

Publication series
December 2017
Charlene Watson, Neil Bird, Liane Schalatek, Katharina Keil

This series of short, introductory briefings are designed for readers new to the debate on global climate change financing. In light of the fast pace of developments in climate finance, the briefs provide a better understanding of the quantity and quality of financial flows going to developing countries.

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.

2017 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, however, approved one adaptation project for the region, one multi-foci and one mitigation project, totalling USD 69.7 million.