China
Africa
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Developing Asia’s response to climate change
Published in Subhes C. Bhattacharyya, Routledge Handbook of Energy in Asia, 2018
Nandakumar Janardhanan, Bijon Kumer Mitra
Addressing energy sector concerns requires multiple policy initiatives as well as efficient support from domestic as well as external sources. In this regard the international finance which forms a critical element in global climate mitigation has a major role in helping the developing world. Climate finance is a key financial instrument in this regard: ‘Climate finance refers to local, national or transnational financing, which may be drawn from public, private and alternative sources of financing and is critical to addressing climate change because large-scale investments are required to significantly reduce emissions, notably in sectors that emit large quantities of greenhouse gases’ (UNFCCC, 2016(a)). Improving energy efficiency can reduce energy demand and GHG emissions, and deliver a range of other benefits such as improved air quality, enhanced economic competitiveness and, at the national scale, a higher degree of energy security (IEA, 2012). Many of the economies in the region have been investing heavily in improving energy efficiency.
Financial Institutions
Published in Prasad Modak, Environmental Management towards Sustainability, 2018
Climate finance refers to the financing provided by public or private entities at a local, national or international level to significantly reduce emissions causing climate change. Climate finance includes investments needed for climate change mitigation and adaptation.
Water infrastructure in Asia: financing and policy options
Published in International Journal of Water Resources Development, 2022
Edoardo Borgomeo, Bill Kingdom, Judith Plummer-Braeckman, Winston Yu
Climate finance is acquiring importance as a key instrument for water infrastructure financing (Caldecott, 2018). A wide variety of sources, public and private, bilateral and multilateral, are considered under this generic term. These include new funds established with the explicit objective of financing climate change adaptation and mitigation projects, such as the Green Climate Fund and the UNFCCC’s Adaptation Fund, as well as the diversion of traditional development assistance to areas that count as climate finance, including adaptation and mitigation through water infrastructure. Green bonds are also emerging as tools for financing water infrastructure in Asia, particularly in China and Asia’s high-income countries (ADB, 2018). For example, the construction of Tuas Nexus, Singapore’s first integrated waste and water treatment facility, has been financed through green bonds. Private investors inspired by environmental, social and governance (ESG) objectives (so-called ‘impact investors’) have also become increasingly active in investments that are climate and development oriented. While it appears that climate and ‘impact’ finance is on the rise, the absence of clearly established accounting rules on what counts as climate finance (Roberts et al., 2021) means that is not possible to quantify its overall contribution to water infrastructure financing in Asia.