Accessing Climate Change Adaptation Funds for Asia and the Pacific

The people of Asia and the Pacific are highly vulnerable to impacts from climate change and climate variability due in part to the high concentration of people living in vulnerable coastal areas and river basins. Many countries in the region are experiencing frequent and intense flooding, drought and storm events. Key economic sectors, especially in developing economies in the region, are already feeling the negative effects.

Globally, the financing needs for climate change adaptation in developing countries to 2050 are estimated at $100 billion annually. Various climate change funds associated with the United Nations Framework Convention on Climate Change have been established, and a goal has been set to mobilize $100 billion per year by 2020 for both climate change adaptation and mitigation. Much of this is expected to come from the private sector as well as international and domestic sources.

Identifying and gaining access to these resources is essential to countries in the region if they are to successfully adapt to climate change. However, many developing countries face major capacity challenges in preparing high quality adaptation project proposals to access these funds. At present there is no adequate mechanism in Asia and the Pacific meeting this need.

Source: USAID
Year: 2014