Climate finance in the Asia-Pacific: trends and innovative approaches

There is a widening gap in the Asia and Pacific region between the amount of climate finance directed towards adaptation and mitigation of climate change, and the amount of finance necessary to address these and sustainable development issues. Despite concerted efforts at the international level, climate finance mobilized by international public sources will never reach the levels required to meet investment costs to transform economies in the region to resource efficient, low carbon models. However, countries in the region have at their disposal a number of tools that can be utilized in addition to international finance and capacity support delivered by the international community and United Nations organizations to meet this growing demand for climate finance.